Phathom Pharmaceuticals, Inc. (PHAT) Reports Q2 Loss, Tops Revenue Estimates

Company Performance - Phathom Pharmaceuticals reported a quarterly loss of $1.25 per share, which was worse than the Zacks Consensus Estimate of a loss of$1.20, and compared to a loss of $0.84 per share a year ago, indicating a significant decline in performance [1] - The company posted revenues of$7.32 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 29.72%, compared to zero revenues a year ago [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times [2] Stock Movement and Outlook - Phathom Pharmaceuticals shares have increased by approximately 18.4% since the beginning of the year, outperforming the S&P 500's gain of 9% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is -$1.30 on revenues of$10.94 million, and for the current fiscal year, it is -$4.80 on revenues of$40.48 million [7] Industry Context - The Medical - Biomedical and Genetics industry, to which Phathom Pharmaceuticals belongs, is currently ranked in the top 37% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact the stock's performance [5]