Phathom Pharmaceuticals, Inc. ( (PHAT) ) has released its Q3 earnings. Here is a breakdown of the information Phathom Pharmaceuticals, Inc. presented to its investors.
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Phathom Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the development and commercialization of innovative treatments for gastrointestinal diseases, with a notable product being VOQUEZNA for GERD treatment. In its third-quarter earnings report for 2024, Phathom Pharmaceuticals highlighted a significant increase in net revenues to $16.4 million and over a 138% rise in prescriptions for its VOQUEZNA products since the last quarter. The company also reported expanded commercial access for VOQUEZNA, now covering over 80% of U.S. commercial lives. Key financial metrics showcased a robust commercial launch for VOQUEZNA, with over 143,000 prescriptions filled to date, reflecting strong market adoption. However, the company recorded a net loss of $85.6 million, attributed to increased SG&A expenses for commercial infrastructure and marketing. Looking ahead, Phathom Pharmaceuticals is optimistic about VOQUEZNA’s potential to capture a significant market share in GERD treatment, bolstered by recent equity raises and strategic expansions in coverage.
