Phathom Pharmaceuticals, Inc. (PHAT) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of a loss of $0.09. This compares to a loss of $0.79 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +11.11%. A quarter ago, it was expected that this company would post a loss of $0.3 per share when it actually produced a loss of $0.15, delivering a surprise of +50%.Over the last four quarters, the compan ...

Phathom Pharmaceuticals (NasdaqGS:PHAT) Q4 2025 Earnings call February 26, 2026 08:00 AM ET Company ParticipantsAnnabel Samimy - Managing Director of BioPharma and BiotechnologyAnthea Li - Senior Associate in Biotechnology Equity ResearchEric Sciorilli - Head of Investor RelationsMartin Auster - Managing DirectorMin Lee - Biotech Equity Research AssociateSanjeev Narula - Chief Financial and Business OfficerSteven Basta - President and CEOConference Call ParticipantsChase Knickerbocker - Senior Equity Resear ...

Phathom Pharmaceuticals (NasdaqGS:PHAT) Q4 2025 Earnings call February 26, 2026 08:00 AM ET Company ParticipantsAnnabel Samimy - Managing Director of BioPharma and BiotechnologyAnthea Li - Senior Associate in Biotechnology Equity ResearchEric Sciorilli - Head of Investor RelationsLouise Chen - Managing DirectorMartin Auster - Managing DirectorMin Lee - Biotech Equity Research AssociateSanjeev Narula - Chief Financial and Business OfficerSteven Basta - President and CEOConference Call ParticipantsChase Knick ...

Phathom Pharmaceuticals (NasdaqGS:PHAT) Q4 2025 Earnings call February 26, 2026 08:00 AM ET Speaker8Hello, and welcome to Phathom Pharmaceuticals' fourth quarter and full year 2025 earnings results call. At this time, all participants are in a listen-only mode. After the presentation, there will be a question-and-answer session. To ask a question, please press star one one on your telephone keypad. Please be advised that today's call is being recorded. With that, I would like to turn the call over to Eric S ...

NASDAQ: PHAT Today's Agenda Business Update FOURTH QUARTER & FULL YEAR 2025 EARNINGS CONFERENCE CALL FEBRUARY 2026 Steven Basta, President & Chief Executive Officer Financial Update Sanjeev Narula, Chief Financial and Business Officer Closing Remarks Steven Basta, President & Chief Executive Officer Question & Answer Steven Basta, President & Chief Executive Officer Sanjeev Narula, Chief Financial and Business Officer 2 Safe harbor This presentation contains forward-looking statements. All statements other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39094 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) Name of each exchange on ...

Over 1.1 million total VOQUEZNA® prescriptions filled to date $57.6 million in Q4 net revenues; $175.1 million in FY 2025 net revenues, a 217% increase from FY 2024 Q4 operating expenses of $55.9 million; non-GAAP operating expenses of $50.3 million and net cash usage of approximately $5.2 million, reflecting continued expense discipline Strengthened financial position through $130 million equity offering and modification of term debt Providing FY 2026 guidance; operating profitability expected beginning in ...

Core Viewpoint - Phathom Pharmaceuticals, Inc. will host a live webcast on February 26, 2026, to report its fourth quarter and full year 2025 financial results and provide a business update [1]. Company Overview - Phathom Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases [3]. - The company has in-licensed exclusive rights to vonoprazan, a first-in-class potassium-competitive acid blocker (PCAB), for the U.S., Europe, and Canada [3]. - Phathom markets vonoprazan in the U.S. as VOQUEZNA® for various gastrointestinal conditions, including heartburn associated with Non-Erosive GERD and treatment of H. pylori infection [3].

Core Insights - The company is shifting its sales focus towards gastroenterologists, who are seen as early adopters for treating patients with gastroesophageal reflux disease (GERD) [1][5] - Phathom Pharmaceuticals expects to achieve operating profitability in the second half of 2026 [2] - The company generated $55 million in revenue in 2024 and anticipates $175 million for 2025 [3] Business Strategy - The strategic pivot towards gastroenterology aims to target patients who remain symptomatic despite existing therapies, with approximately 40% of reflux patients still experiencing pain [4][5] - The company plans to maintain tighter operating expense discipline while continuing revenue growth through this focused approach [5][6] - Phathom is refilling open territories and aims to have around 300 sales representatives by the end of March [6] Market Dynamics - A seasonal dip in January prescriptions is attributed to typical market dynamics, including insurance plan resets and prior authorization requirements [8] - The company believes it can convert 20% to 30% of gastroenterology PPI script volume to its product VOQUEZNA, potentially generating $1 billion in revenue from this segment [12][13] Pipeline and Development - Phathom is developing an eosinophilic esophagitis (EoE) program, which could provide significant economic benefits and potential exclusivity extensions [14][15] - The company is exploring longer-term business development opportunities that align with its gastroenterology focus [17] Financial Position - A recent capital raise was aimed at addressing a significant debt overhang and improving the company's capital structure [10] - The company has a new chemical entity (NCE) exclusivity that extends through May 2032, with potential for further extensions [16]

Summary of Phathom Pharmaceuticals Conference Call Company Overview - **Company**: Phathom Pharmaceuticals (NasdaqGS:PHAT) - **Product**: VOQUEZNA, the first PCAB (Potassium-Competitive Acid Blocker) in the U.S. for gastroesophageal reflux disease (GERD) treatment - **Market Size**: 65 million patients in the U.S. suffer from gastroesophageal reflux, with a historical PPI market exceeding $10 billion in revenue [2][3][9] Core Insights - **Market Opportunity**: 40% of GERD patients on standard therapy (PPIs) are still in pain, representing a significant opportunity for VOQUEZNA to convert these patients to a more effective treatment [3][4] - **Sales Growth**: - 2024 revenue: $55 million - 2025 revenue: Estimated $175 million, indicating a growth of $120 million year-over-year [9] - Expected transition to operating profitability in the second half of 2026 [10] - **Sales Strategy Shift**: Focus has shifted from primary care to gastroenterologists, who are identified as early adopters and the primary prescribers for patients in pain [10][11][14] Financial Performance - **Revenue Growth**: Consistent growth observed each quarter in 2025 despite sales force transitions and territory realignments [27][31] - **Sales Force Realignment**: - Target lists were updated to focus on gastroenterologists, removing unproductive primary care targets [20][22] - Full-strength sales organization expected by March 2026, with approximately 300 sales reps [22] Market Penetration Goals - **PPI Market Penetration**: Current penetration at 3% of the PPI script volume within gastroenterology, with a goal to convert 20%-30% of the 20 million PPI prescriptions written by gastroenterologists, potentially leading to $1 billion in revenue [78][84] Future Outlook - **2026 Strategy**: Focus on executing the current strategy without major shifts, emphasizing sales execution and customer engagement [41][42] - **EoE Market Potential**: Ongoing trials for eosinophilic esophagitis (EoE) could extend exclusivity and provide additional revenue opportunities [96][108] - **Pipeline Development**: Plans to explore additional products for launch through existing gastroenterology relationships, focusing on assets with clear human efficacy data [123][126] Additional Considerations - **Debt Management**: Recent capital raise aimed at improving the balance sheet and renegotiating debt terms to alleviate investor concerns [73] - **Seasonal Fluctuations**: January script declines attributed to seasonal factors and insurance plan resets, not indicative of underlying demand [46][50] This summary encapsulates the key points discussed during the conference call, highlighting Phathom Pharmaceuticals' strategic focus, financial performance, and future growth opportunities in the gastroenterology market.