Earnings summaries and quarterly performance for Phathom Pharmaceuticals.
Executive leadership at Phathom Pharmaceuticals.
Board of directors at Phathom Pharmaceuticals.
Research analysts who have asked questions during Phathom Pharmaceuticals earnings calls.
Annabel Samimy
Stifel Financial Corp.
4 questions for PHAT
Also covers: ALT, APLS, CARA +14 more
Joseph Stringer
Needham & Company
4 questions for PHAT
Also covers: APLS, CDTX, LXRX +3 more
Yatin Suneja
Guggenheim Partners
4 questions for PHAT
Also covers: ACAD, ARGX, AXSM +10 more
Kristen Kluska
Cantor Fitzgerald
3 questions for PHAT
Also covers: ABEO, ADMA, AQST +24 more
MC
Matthew Caufield
H.C. Wainwright & Co., LLC
3 questions for PHAT
Also covers: DMAC, MLYS, OPTN +1 more
Chase Knickerbocker
Craig-Hallum Capital Group
2 questions for PHAT
Also covers: AVDL, BFLY, BVS +17 more
Chengxiang Liu
Evercore ISI
2 questions for PHAT
KC
Kyuwon Choi
Goldman Sachs
2 questions for PHAT
Also covers: AMRN, ASND, BHVN +9 more
PC
Paul Choi
Goldman Sachs
2 questions for PHAT
Also covers: AMRN, ARVN, ASND +12 more
JL
Jyhhaw Liu
Evercore ISI
1 question for PHAT
Also covers: DLR, HPQ
UR
Umer Raffat
Evercore ISI
1 question for PHAT
Also covers: ALKS, AMGN, BHC +15 more
Recent press releases and 8-K filings for PHAT.
Phathom Pharmaceuticals Announces Pricing of Public Offering
PHAT
- Phathom Pharmaceuticals priced an underwritten public offering of 6,875,000 shares of common stock at $16.00 per share and 1,250,078 pre-funded warrants at $15.999 per pre-funded warrant.
- The offering is expected to generate approximately $130 million in gross proceeds.
- The net proceeds, estimated at approximately $130 million (or up to $150 million if the underwriters' option to purchase additional shares is fully exercised), will be used for general corporate purposes, including working capital, commercialization, and research and development expenses.
- The offering is anticipated to close on or about January 9, 2026.
Jan 8, 2026, 9:03 PM
Phathom Pharmaceuticals Prices Public Offering
PHAT
- Phathom Pharmaceuticals, Inc. announced the pricing of an underwritten public offering of 6,875,000 shares of common stock at $16.00 per share and 1,250,078 pre-funded warrants at $15.999 per warrant.
- The offering is expected to generate approximately $130 million in gross proceeds for Phathom.
- The company intends to use the net proceeds for general corporate purposes, including working capital, commercialization, and research and development expenses.
- The offering is anticipated to close on or about January 9, 2026.
Jan 8, 2026, 3:33 AM
Phathom Pharmaceuticals Announces Proposed Public Offering
PHAT
New Projects/Investments
- Phathom Pharmaceuticals, Inc. announced its intent to offer and sell shares of its common stock or pre-funded warrants in an underwritten public offering.
- The company plans to grant the underwriters a 30-day option to purchase up to an additional 15% of the total number of securities offered.
- Net proceeds from the offering are intended for general corporate purposes, including working capital, commercialization, and research and development expenses.
Jan 7, 2026, 9:05 PM
Phathom Pharmaceuticals Announces Preliminary Q4 and Full Year 2025 Financial Results
PHAT
Earnings
Guidance Update
- Phathom Pharmaceuticals expects preliminary net revenues of approximately $57 million to $58 million for Q4 2025 and $174.5 million to $175.5 million for the full year 2025.
- Preliminary non-GAAP operating expenses are estimated at $51 million to $53 million for Q4 2025 and $284.5 million to $286.5 million for the full year 2025.
- The company reported net cash usage of approximately $6 million in Q4 2025, with cash and cash equivalents of approximately $130 million as of December 31, 2025.
- Phathom Pharmaceuticals anticipates achieving operating profitability in the second half of 2026, excluding stock-based compensation.
- During Q4 2025, VOQUEZNA products surpassed one million prescriptions dispensed in the United States since launch.
Jan 7, 2026, 9:02 PM
Phathom Pharmaceuticals Announces Preliminary Q4 and Full Year 2025 Financial Results
PHAT
Earnings
Guidance Update
- Phathom Pharmaceuticals announced preliminary unaudited financial results for the fourth quarter of 2025, expecting net revenues of approximately $57 million to $58 million and GAAP operating expenses of approximately $59 million to $61 million.
- For the full year 2025, the company anticipates net revenues of approximately $174.5 million to $175.5 million and GAAP operating expenses of approximately $315.5 million to $317.5 million.
- As of December 31, 2025, cash and cash equivalents were approximately $130 million, with a net cash usage of approximately $6 million in Q4 2025.
- During the fourth quarter of 2025, Phathom surpassed one million prescriptions dispensed for its VOQUEZNA products in the United States since launch.
- The company expects to achieve operating profitability in the second half of 2026, excluding stock-based compensation.
Jan 7, 2026, 9:01 PM
Phathom outlines strategic pivot and path to profitability
PHAT
Management Change
Revenue Acceleration/Inflection
New Projects/Investments
- Phathom (PHAT) has implemented a strategic pivot focusing on gastroenterologists, resulting in a nearly 50% reduction in cash operating expenses.
- This strategic shift included significant savings from cutting direct-to-consumer (DTC) promotion, reducing SG&A from $360 million to $180 million as of Q1, while maintaining sales force size.
- The company is observing positive momentum in IQVIA script trends, noting that most revenue growth typically occurs in Q2, Q3, and Q4, with Q1 being relatively flat due to seasonality.
- Management expects to achieve positive operating profit at some point during 2026 and is evaluating an OTC conversion opportunity for future life cycle management.
Dec 2, 2025, 8:25 PM
Phathom Pharmaceuticals Details Strategic Shift and Path to Profitability
PHAT
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Phathom Pharmaceuticals has implemented a strategic pivot focusing on sales calls and gastroenterologists, which has led to a nearly 50% reduction in cash operating expenses.
- The company's annual SG&A spend has decreased from $360 million as of Q1 to $180 million, primarily due to cuts in direct-to-consumer marketing, while maintaining the sales force size and compensation.
- Q3 revenue was approximately $49.5 million, and IQVIA total prescriptions (TRX) are up 17%, suggesting potential for Q4 revenue in the high $50s.
- Phathom expects to achieve positive operating profit at some point during 2026, with expenses committed to be below $55 million for Q4.
- Analysts project $3-$5 in earnings power for the company in the future, and an OTC conversion opportunity is currently being evaluated.
Dec 2, 2025, 8:25 PM
Phathom Pharmaceuticals Provides VOQUEZNA Launch Update and Strategic Outlook
PHAT
Guidance Update
Product Launch
Revenue Acceleration/Inflection
- Phathom Pharmaceuticals' VOQUEZNA, a next-generation gastroesophageal reflux treatment, targets patients who are still symptomatic despite prior PPI therapy.
- The company reported $55 million in revenue for 2024 and guided to $170-$175 million for 2025.
- Phathom has strategically shifted its sales focus to gastroenterology, reallocating sales force time to spend 70% in GI due to 4x higher script productivity compared to primary care.
- VOQUEZNA's exclusivity is confirmed through May 2032, with potential for generic launch extending into 2033 or 2034.
- Management projects VOQUEZNA to achieve $1 billion+ in revenue within the next two to three years, primarily from the GI market.
Nov 18, 2025, 2:30 PM
Phathom Pharmaceuticals Discusses VOQUEZNA Launch and Strategic Shift
PHAT
Revenue Acceleration/Inflection
Guidance Update
New Projects/Investments
- Phathom Pharmaceuticals' product, VOQUEZNA, generated $55 million in revenue in 2024, its first full year of launch, and the company has guided to $170 million-$175 million in revenue for 2025.
- The company has strategically pivoted its sales focus over the past six months to concentrate 70% of sales force time on the gastroenterology (GI) market, moving away from primary care due to 4x higher productivity in GI.
- VOQUEZNA targets the 30-40% of patients with gastroesophageal reflux who are still experiencing symptoms despite being on proton pump inhibitors (PPIs), with a potential to reach over $1 billion in revenue from the GI market alone.
- The FDA has clarified that VOQUEZNA has exclusivity through May 2032 for all indications, with potential extensions into 2033 or 2034 due to generic review timelines and possible pediatric exclusivity.
- Phathom's CFO anticipates VOQUEZNA will achieve $1 billion in revenue within a near-term horizon of two to three years.
Nov 18, 2025, 2:30 PM
Phathom Pharmaceuticals Discusses VOQUEZNA Growth and Strategic Shift
PHAT
Guidance Update
Revenue Acceleration/Inflection
Product Launch
- Phathom Pharmaceuticals reported $55 million in revenue for 2024 and provided 2025 revenue guidance of $170-$175 million for VOQUEZNA. The company aims to reach $1 billion or more in revenue in the GI market, with the CFO expecting to hit this target in the near-term horizon (2-3 years).
- The company pivoted its strategy in May 2025 to focus more intensely on the gastroenterology (GI) opportunity, reallocating salesforce time to spend 70% in GI due to 4x higher productivity compared to primary care. The sales force realignment was completed in October 2025, with full force expected by Q1 2026.
- VOQUEZNA targets the 30%-40% of patients with gastroesophageal reflux who are on a PPI and still experiencing symptoms. The GI market represents 20 million PPI prescriptions annually, with VOQUEZNA currently at an annualized run rate of 600,000 scripts (3%) in Q3 2025. Over 80% of commercial lives are covered, with a single-step prior PPI failure requirement for over 50% of coverage.
- The FDA confirmed in June 2025 that VOQUEZNA has exclusivity through May 2032 for all indications, with potential generic launch extending into 2033 or 2034 and an additional six months of pediatric exclusivity possible.
Nov 18, 2025, 2:30 PM
Quarterly earnings call transcripts for Phathom Pharmaceuticals.
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