Welcome to our dedicated page for Phathom Pharmaceuticals news (Ticker: PHAT), a resource for investors and traders seeking the latest updates and insights on Phathom Pharmaceuticals stock.
Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing innovative treatments for gastrointestinal diseases. Founded in 2018 and headquartered in Buffalo Grove, Illinois, Phathom Pharmaceuticals possesses exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium-competitive acid blocker (PCAB). This groundbreaking medication inhibits acid secretion in the stomach and has shown significant clinical benefits, providing rapid, potent, and sustained acid suppression.
Phathom's flagship product, VOQUEZNA® (vonoprazan), is now FDA-approved and available in the U.S. for treating Erosive Esophagitis (Erosive GERD) and relieving associated heartburn in adults. VOQUEZNA is the first new class of acid suppression medication approved in the U.S. in over 30 years, offering a novel mechanism of action distinct from other treatments. Its efficacy, demonstrated in clinical trials, surpasses that of traditional proton pump inhibitors (PPIs), showcasing strong healing rates and durable results.
In addition to treating GERD, Phathom is developing vonoprazan for use in combination with antibiotics to treat Helicobacter pylori (H. pylori) infection. VOQUEZNA® TRIPLE PAK® and VOQUEZNA® DUAL PAK® are expected to be commercially available soon, providing comprehensive treatment regimens co-packaged with antibiotics.
Phathom Pharmaceuticals is actively engaged in several key initiatives and collaborations. Recent milestones include the U.S. commercial availability of VOQUEZNA, the completion of Phase 3 trials for Non-Erosive GERD, and the amendment of a term loan facility enhancing financial flexibility. Their innovative approach and dedicated national sales force have driven significant market penetration, with VOQUEZNA now estimated to cover 60 million lives through partnerships with major pharmacy benefit managers.
Phathom is committed to addressing unmet medical needs by offering co-pay assistance programs to ensure accessibility and affordability for patients. They continue to explore new treatment options and expand the indications for vonoprazan through ongoing research and development efforts.
For more information, visit the company’s website at www.phathompharma.com, and follow them on LinkedIn and X (formerly Twitter).
Phathom Pharmaceuticals (Nasdaq: PHAT) has secured a revenue interest financing agreement of up to $260 million, including a $100 million upfront payment and $160 million contingent upon FDA approval of vonoprazan for erosive esophagitis (EE). This financing will support the launch of vonoprazan for H. pylori and EE and fund ongoing Phase 3 trials. Investors will receive a 10% royalty on net sales, capped at 2.0x the total payments. Phathom anticipates sufficient capital to fund operations through 2024.
Phathom Pharmaceuticals (NASDAQ: PHAT) has received FDA approval for VOQUEZNA TRIPLE PAK and VOQUEZNA DUAL PAK, innovative treatment regimens for Helicobacter pylori infection in adults. These regimens, which include vonoprazan, a first-in-class potassium-competitive acid blocker (PCAB), show superior eradication rates compared to traditional lansoprazole-based therapies. The launch is anticipated in Q3 2022, providing two options, including a clarithromycin-free regimen, addressing declining eradication rates among the 115 million affected U.S. patients.
Phathom Pharmaceuticals (Nasdaq: PHAT) has appointed Frank Karbe to its Board of Directors. With over 25 years of experience in finance and the life sciences sector, Karbe previously served as President and CFO of Myovant Sciences, where he raised $2 billion and transitioned the company to a publicly traded entity. Phathom's CEO, Terrie Curran, emphasized that Karbe's expertise will be crucial as the company approaches a pivotal moment in its strategy and commercialization plans, particularly regarding its late-stage development of vonoprazan for gastrointestinal disorders.
Phathom Pharmaceuticals (Nasdaq: PHAT) announced its management team's participation in the 21st Annual Needham Virtual Healthcare Conference on April 12, 2022, at 9:30 a.m. ET. The conference runs from April 11-14, 2022, during which the company will also hold one-on-one meetings. Investors can access the live webcast and recordings for 90 days via the Phathom website. The company focuses on developing treatments for gastrointestinal diseases, particularly vonoprazan, a potassium competitive acid blocker in late-stage development for acid-related disorders.
Phathom Pharmaceuticals (Nasdaq: PHAT) announced the appointment of Molly Henderson as Chief Financial and Business Officer, effective April 5, 2022. Henderson, formerly CFO at UroGen Pharma, brings over 20 years of financial expertise, including roles at Advaxis and Iovance Biotherapeutics. Her appointment aims to enhance Phathom's corporate finance and business strategies as the company evolves into a commercial stage entity. Phathom focuses on developing innovative treatments for gastrointestinal diseases, particularly the potassium competitive acid blocker vonoprazan.
Frazier Life Sciences has successfully closed Frazier Life Sciences XI, L.P. (FLS XI), raising over $987 million, surpassing its target of $800 million. This fourth venture fund will continue focusing on biopharmaceuticals and innovative therapeutics through company creation and early-stage investments. Under the leadership of experienced partners, FLS XI follows the $617 million FLS X from 2020, adding to the firm’s total capital raised to over $3.1 billion. Frazier Life Sciences has supported numerous companies, including Phathom Pharmaceuticals (NASDAQ: PHAT) and Arcutis Biotherapeutics (NASDAQ: ARQT).
Phathom Pharmaceuticals (Nasdaq: PHAT) has submitted a new drug application (NDA) to the FDA for vonoprazan, aimed at treating erosive esophagitis (EE) and alleviating heartburn in adults. This condition affects around 20 million U.S. residents. The NDA is based on promising results from the Phase 3 PHALCON-EE trial, which demonstrated significant efficacy compared to the standard PPI treatment, lansoprazole. If approved, vonoprazan could redefine treatment for EE. Phathom has exclusive rights to vonoprazan in the U.S., Europe, and Canada, following its acquisition from Takeda.
Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT) reported financial results for Q4 and full year 2021, revealing a net loss of $35.8 million in Q4, down from $53.7 million in Q4 2020. Annual net loss increased to $143.9 million from $129.1 million in 2020. Key milestones include submission of a New Drug Application (NDA) for erosive esophagitis set for March 2022 and expected FDA approval of vonoprazan for H. pylori by May 3, 2022. The company anticipates the launch of vonoprazan-based therapies in the U.S. in late 2022, marking significant advancements in gastrointestinal treatments.
Phathom Pharmaceuticals (Nasdaq: PHAT) announced positive results from the Phase 2 PHALCON-NERD study for vonoprazan, demonstrating significant efficacy in relieving episodic heartburn associated with non-erosive gastroesophageal reflux disease (NERD). All dose levels (10 mg, 20 mg, 40 mg) achieved the primary endpoint, with relief rates of 56.0%, 60.6%, and 70.0% respectively compared to 27.3% for placebo (p<0.0001). Following these results, Phathom has launched a Phase 3 study (NERD-301) and plans discussions with the FDA regarding a pivotal Phase 3 trial for on-demand dosing. The company aims to address NERD, affecting approximately 70% of 65 million GERD patients in the U.S.
Phathom Pharmaceuticals (Nasdaq: PHAT) announced its participation in the 4th Annual Evercore ISI HealthCONx Conference on November 30, 2021, at 9:15 a.m. EST. The management team will also engage in one-on-one meetings during the event, which runs from November 30 to December 2, 2021. A live webcast and an archived recording will be available on their website for 90 days post-event. Phathom focuses on developing treatments for gastrointestinal diseases, notably with vonoprazan, a potassium competitive acid blocker.
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