Stifel analyst Annabel Samimy initiated coverage of Phathom Pharmaceuticals with a Buy rating and $24 price target. Phathom has successfully developed and is launching Voquezna in erosive GERD and H. pylori infection with the goal of displacing entrenched PPIs as the new standard-of-care, says the analyst, who notes that “market-expanding” non-erosive GERD and differentiating “as-needed” GERD dosing and eosinophilic esophagitis studies are underway.
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