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    Chengxiang Liu • Evercore ISI

    Chengxiang Liu is a Vice President - Equity Research Analyst at Evercore ISI, specializing in biotechnology and healthcare sector analysis with a focus on innovative pharmaceutical and biotech companies. He covers a range of high-growth firms in the sector, including names like Phathom Pharmaceuticals, where his analytic performance is noted for deep fundamental research and actionable investment recommendations. Liu began his career in equity research after completing advanced academic training, with professional experience at Evercore ISI dating to the early 2020s and prior analytical roles at institutions such as Cantor Fitzgerald. He holds recognized securities licenses under FINRA and is known for contributions to earnings forecasts and company coverage notes referenced by the financial media.

    Chengxiang Liu's questions to Phathom Pharmaceuticals Inc (PHAT) leadership

    Chengxiang Liu's questions to Phathom Pharmaceuticals Inc (PHAT) leadership • Q4 2024

    Question

    Chengxiang Liu, on behalf of Umer Raffat, asked about the trend in new patient starts (NBRx), expectations for 2025 with the new DTC campaign, and the current importance of the BlinkRx patient assistance program.

    Answer

    CCO Martin Gilligan confirmed that new patient starts are increasing, driven by new PCP adoption and consumer requests from the DTC campaign. He affirmed that the BlinkRx program remains very important for patient support and has been shown to lead to increased refills, serving as a key tool to get commercial patients on therapy.

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    Chengxiang Liu's questions to Phathom Pharmaceuticals Inc (PHAT) leadership • Q3 2024

    Question

    Chengxiang Liu, on for Umer Raffat, asked about the trend in the prescription fill rate, the current volume contribution from the NERD indication, and sought confirmation that a new QIDP indication does not extend exclusivity.

    Answer

    CCO Martin Gilligan explained that the company no longer reports the fill rate metric now that access exceeds 80%, but prescribing continues to grow strongly. He noted a clear inflection in the 10mg dose post-NERD approval, which constitutes the majority of the new growth. CEO Terrie Curran confirmed the existing 10-year exclusivity period (to 2032) is based on the combination of NCE and QIDP status for the molecule itself.

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