FLORHAM PARK, N.J., March 31, 2025 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases, announced today a partnership with actor, comedian, and author Kenan Thompson, best known as the longest-running cast member on Saturday Night Live. For the first time ever, Thompson is publicly speaking out about his experience with GERD as part of the GERD IS NO JOKE campaign to raise ...

Phathom Pharmaceuticals (PHAT) Q4 2024 Earnings Call March 06, 2025 06:02 PM ET Company Participants Eric Ciarelli - Head Of Investor RelationsTerrie Curran - President & CEOMartin Gilligan - Chief Commercial OfficerMolly Henderson - Chief Financial & Business OfficerJoseph Stringer - Managing Director, Equity ResearchAnnabel Samimy - Managing DirectorChengxiang Liu - Vice President - Equity ResearchAzmi Nabulsi - Co-Founder & COO Conference Call Participants Yatin Suneja - Senior Managing Director, Biotech ...

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Q4 2024 Earnings Conference Call March 6, 2025 8:30 AM ET Company Participants Eric Sciorilli - Head, Investor Relations Terrie Curran - President & Chief Executive Officer Martin Gilligan - Chief Commercial Officer Molly Henderson - Chief Financial Officer Conference Call Participants Yatin Suneja - Guggenheim Joseph Stringer - Needham Annabel Samimy - Stifel Kristen Kluska - Cantor Fitzgerald Paul Choi - Goldman Sachs Matthew Caufield - H.C. Wainwright Operator ...

Phathom Pharmaceuticals, Inc. (PHAT) came out with a quarterly loss of $0.79 per share versus the Zacks Consensus Estimate of a loss of $0.98. This compares to loss of $0.80 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 19.39%. A quarter ago, it was expected that this company would post a loss of $1.57 per share when it actually produced a loss of $1.32, delivering a surprise of 15.92%.Over the last four quarters, the compan ...

Financial Performance - VOQUEZNA generated $55.3 million in net revenues for 2024, with $29.7 million in Q4, representing an 81% increase from Q3[4] - Product revenue for Q4 2024 reached $29.664 million, a significant increase from $682 thousand in Q4 2023[22] - Gross profit for the year ended December 31, 2024, was $47.279 million, compared to $515 thousand in 2023[22] - Non-GAAP adjusted net loss for the full year 2024 was $262.3 million, compared to $129.7 million for 2023[9] - The net loss for Q4 2024 was $74.451 million, compared to a net loss of $79.569 million in Q4 2023[22] - The company reported a total stockholders' deficit of $253.580 million as of December 31, 2024, compared to $72.759 million in 2023[20] - Non-GAAP adjusted net loss for the year ended December 31, 2024, was $262.316 million, compared to $129.713 million in 2023[24] Expenses - SG&A expenses for Q4 2024 were $76.7 million, an increase of $19.7 million compared to Q4 2023[9] - R&D expenses for Q4 2024 were $8.6 million, a decrease of $4.8 million compared to Q4 2023[9] - Total operating expenses for the year ended December 31, 2024, were $324.746 million, up from $167.827 million in 2023[22] - Research and development expenses for the year ended December 31, 2024, were $34.082 million, down from $49.899 million in 2023[22] - Selling, general and administrative expenses for the year ended December 31, 2024, were $290.664 million, significantly higher than $117.928 million in 2023[22] Market Engagement - Over 300,000 filled prescriptions for VOQUEZNA products, a 110% increase since the last earnings report[5] - The number of VOQUEZNA prescribers grew to over 20,000, an increase of over 47% since the last quarterly earnings report[7] - The direct-to-consumer campaign "VOQUEZNA Can Kick Some Acid" has reached millions of GERD sufferers, driving strong patient engagement[7] Research and Development - Phase 2 EoE trial for VOQUEZNA is nearing initiation, with first patient enrollment planned for Q2 2025[4] Cash Position - Cash and cash equivalents as of December 31, 2024, were $297.3 million, with an additional $100 million available under the term loan[15] Risks - The company faces risks related to the commercialization of its products, including potential delays in regulatory approvals and competition[16]

Financial Performance - The company incurred a net loss of $334.3 million and $201.6 million for the years ended December 31, 2024 and 2023, respectively, with an accumulated deficit of $1.3 billion as of December 31, 2024[289]. - The company expects to continue incurring significant operating losses for the foreseeable future, with no assurance of achieving profitability[289]. - The company anticipates that existing cash and cash equivalents, along with a $100 million drawdown under its Loan Agreement, will fund operations for at least the next 12 months[295]. - The company must generate sufficient cash flow from operations to service its current and future indebtedness, which may be impacted by its ability to execute its business strategy[409]. Product Development and Commercialization - The company launched VOQUEZNA, VOQUEZNA TRIPLE PAK, and VOQUEZNA DUAL PAK in the fourth quarter of 2023, which are critical for its future revenue generation[286]. - The company relies on the success of its new products and may require additional financing to support commercialization efforts, which could limit operational capabilities if not secured[294]. - The company has limited experience in commercializing products and may face challenges in successfully marketing VOQUEZNA and its future candidates[286]. - The commercialization success of VOQUEZNA and its future products will depend on effective marketing, sales, and distribution capabilities, which require significant investment and time[305]. - The company faces significant competition from larger pharmaceutical firms and research institutions, which may hinder its ability to develop and commercialize products[326]. - The company is aware of multiple PCABs in development that may compete with vonoprazan, including fexuprazan and tegoprazan, with various stages of approval in different regions[329][330]. - The company is focusing on specific indications for vonoprazan due to limited resources, which may result in missed opportunities for more profitable product candidates[374]. Regulatory and Compliance Risks - The company is subject to various regulatory and compliance obligations that could delay or prevent the commercialization of its products[286]. - The FDA and other regulatory authorities may impose significant restrictions on the indicated uses or marketing of VOQUEZNA and future products, leading to additional expenses[306]. - The company faces uncertainty regarding third-party payer coverage and reimbursement for newly approved products, which is crucial for patient affordability[312]. - The company must comply with the Medicaid Drug Rebate Program, which imposes extensive drug price reporting and payment obligations, with penalties for non-compliance[319]. - The company is subject to various healthcare laws and regulations, and failure to comply could adversely affect its financial condition and operations[419]. - The lengthy and unpredictable approval process for drugs means that only a small percentage of candidates successfully complete the regulatory approval process, posing a risk to the company's financial condition[372]. Clinical Trials and Development Challenges - Clinical drug development is lengthy and expensive, with uncertain outcomes, and may take many years to complete[344]. - The Phase 3 clinical trial for H. pylori infection faced challenges due to the inability to double-blind the dual therapy arm, which may affect regulatory interpretations[345]. - The company may face difficulties in enrolling patients for clinical trials, which could delay or adversely affect clinical development activities[358]. - Any delays in clinical trials could increase costs and jeopardize the ability to generate product revenues[356]. - The company may need to conduct additional costly clinical trials as a condition for regulatory approval, which could delay commercialization[373]. Intellectual Property and Patent Risks - The company currently owns a pending patent application but does not own any issued patents at this time[454]. - There is uncertainty regarding the protection of intellectual property rights, which could adversely affect the company's competitive position[456]. - The company may face challenges in patent validity and enforceability, which could allow competitors to commercialize similar products[469]. - The potential loss of patent rights or exclusivity could materially and adversely impact the company's business and competitive position[471]. - The company faces risks related to potential patent infringement claims from third parties, which could delay or prevent commercialization efforts[482]. Financial and Operational Dependencies - Three major customers accounted for approximately 69% of product sales for the year ended December 31, 2024, with individual contributions ranging from 22% to 25%[400]. - As of December 31, 2024, three customers represented 81% of accounts receivable, with individual contributions between 25% and 31%, exposing the company to significant credit risk[400]. - The company is dependent on third parties for clinical trials and manufacturing, which increases the risk of delays and regulatory compliance issues[389][393]. - The company has no plans to build its own manufacturing facilities and relies on third-party manufacturers, increasing the risk of supply chain disruptions[393]. Competition and Market Dynamics - VOQUEZNA will compete with generic PPIs and other therapies for H. pylori infection and erosive esophagitis, including Talicia launched in March 2020[328]. - The company faces significant competition in establishing collaborations for product development and commercialization, which may impact the success of future product candidates[401]. - Future growth may depend on successful entry into foreign markets, subject to additional regulatory burdens and risks[337]. Financial Agreements and Funding - The company has entered into a Loan Agreement with Hercules, borrowing a total of $100 million initially, with additional borrowings of $40 million in December 2023, $10 million in March 2024, $25 million in June 2024, and $25 million in December 2024, potentially eligible for an additional $100 million[408]. - Under the Revenue Interest Financing Agreement, the company can receive up to $300 million in funding, with $100 million received at the initial closing and an additional $175 million following FDA approval of vonoprazan in November 2023[412][413]. - Investors under the Revenue Interest Financing Agreement are entitled to a 10% royalty on net sales of products containing vonoprazan, with a step-down on net sales exceeding certain thresholds[414]. Cybersecurity and Data Protection - Cybersecurity risks are increasing due to reliance on internet technology and remote work, potentially disrupting product development programs[448]. - The company may incur significant costs related to cybersecurity breaches, including legal expenses and remediation costs[449]. - The company faces challenges in maintaining compliance with evolving data protection laws, which could impact operations and financial results[442].

Core Insights - Phathom Pharmaceuticals reported strong financial results for 2024, with net revenues of $55.3 million, primarily driven by the successful launch of VOQUEZNA [4][8] - The company is experiencing significant commercial momentum, with over 300,000 filled prescriptions for VOQUEZNA, reflecting a 110% increase since the last earnings report [5][4] - Phathom plans to expand its direct-to-consumer marketing efforts to further increase brand awareness and consumer demand for VOQUEZNA [6][5] Business Updates - VOQUEZNA generated $55.3 million in net revenues for 2024, with $29.7 million in Q4 alone, marking an 81% increase from Q3 [4][8] - The number of prescribers for VOQUEZNA has grown to over 20,000, a 47% increase since the last quarterly earnings report [5][4] - A Phase 2 trial for VOQUEZNA as a treatment for eosinophilic esophagitis (EoE) is set to begin in Q2 2025 [9][4] Financial Performance - Q4 2024 net revenues were $29.7 million, a significant increase from $0.7 million in Q4 2023 [8][10] - R&D expenses decreased to $8.6 million in Q4 2024 from $13.4 million in Q4 2023, while SG&A expenses increased to $76.7 million from $57.0 million [10][8] - The net loss for Q4 2024 was $74.5 million, compared to $79.6 million in Q4 2023, with a full-year net loss of $334.3 million [10][8] Market Strategy - The "VOQUEZNA Can Kick Some Acid" direct-to-consumer campaign has been launched to enhance patient engagement and drive prescription requests [6][5] - The campaign is being promoted across various platforms, including streaming services and social media, reaching millions of potential GERD sufferers [5][6] - Phathom aims to further invest in DTC efforts with a new campaign set to launch by the end of March 2025 [6][5] Regulatory and Development Updates - Phathom submitted a Citizen Petition to the FDA to correct the Orange Book listings for VOQUEZNA, seeking a full 10-year NCE exclusivity period through May 3, 2032 [9][4] - The company is also working on developing an orally disintegrating tablet (ODT) formulation for VOQUEZNA, which could extend its intellectual property protection [9][4] - Data from multiple studies presented in 2024 highlighted VOQUEZNA's effectiveness in providing rapid symptom relief for GERD patients [9][4]

Core Viewpoint - Phathom Pharmaceuticals, Inc. will host a conference call on March 6, 2025, to discuss its fourth quarter and full year 2024 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) [3]. - Vonoprazan is marketed in the U.S. as VOQUEZNA® for treating heartburn associated with Non-Erosive GERD and for the healing and maintenance of Erosive GERD [3]. - The company also offers VOQUEZNA® TRIPLE PAK® and VOQUEZNA® DUAL PAK® for the treatment of H. pylori infection in adults [3]. Event Information - A live webcast of the conference call will be available on the Phathom website, with a recording accessible for 90 days post-meeting [2].

FLORHAM PARK, N.J., Jan. 29, 2025 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases, announced today that members of the management team will participate in a fireside chat at the Guggenheim Securities SMID Cap Biotech Conference on Thursday, February 6, 2025, at 10:00 am ET. Company management will also participate in one-on-one meetings during the conference, which will ...

Core Viewpoint - Phathom Pharmaceuticals, Inc. (PHAT) has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Ratings - The Zacks rating system is primarily based on a company's changing earnings picture, specifically tracking the Zacks Consensus Estimate for EPS from sell-side analysts [2]. - The Zacks rating upgrade for Phathom Pharmaceuticals indicates a positive outlook on its earnings, which could positively affect its stock price [4][6]. Impact of Earnings Estimates on Stock Prices - Changes in a company's future earnings potential, reflected in earnings estimate revisions, are strongly correlated with near-term stock price movements, influenced by institutional investors [5]. - Rising earnings estimates for Phathom Pharmaceuticals suggest an improvement in the company's underlying business, likely leading to an increase in stock price as investors respond to this trend [6]. Importance of Earnings Estimate Revisions - Empirical research shows a strong correlation between earnings estimate revisions and near-term stock movements, making tracking these revisions beneficial for investment decisions [7]. - The Zacks Rank stock-rating system effectively utilizes earnings estimate revisions to classify stocks, with a proven track record of performance [8]. Current Earnings Estimates for Phathom Pharmaceuticals - For the fiscal year ending December 2024, Phathom Pharmaceuticals is expected to earn -$4.34 per share, reflecting a year-over-year change of -71.5% [9]. - Over the past three months, the Zacks Consensus Estimate for Phathom Pharmaceuticals has increased by 21.5%, indicating a positive trend in earnings estimates [9]. Zacks Rating System Overview - The Zacks rating system maintains a balanced distribution of 'buy' and 'sell' ratings across its universe of over 4000 stocks, with only the top 5% receiving a 'Strong Buy' rating [10]. - Phathom Pharmaceuticals' upgrade to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [12].