Phathom Pharmaceuticals Announces Appointment of Todd Branning as Chief Financial Officer

Rhea-AI Summary

Phathom Pharmaceuticals (NASDAQ: PHAT) has appointed Todd Branning as Chief Financial Officer, transitioning from Interim CFO David Socks, who will remain a strategic advisor and Board member. Branning brings over 25 years of experience in finance from companies like Amneal Pharmaceuticals and Teva Pharmaceuticals, enhancing Phathom's leadership amid the potential commercialization of vonoprazan. This oral potassium-competitive acid blocker has received FDA's Fast Track status for treating H. pylori infection, supporting its promising market position.

Positive

• Appointment of Todd Branning as CFO expected to strengthen financial leadership.
• Branning’s extensive experience, particularly in pharmaceuticals, may enhance business strategy.
• Vonoprazan's FDA Fast Track designation indicates strong potential for market success.

Negative

• Transition in leadership might raise concerns regarding continuity within financial management.

FLORHAM PARK, N.J., July 13, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that it has appointed Todd Branning as Chief Financial Officer.  Interim CFO, David Socks, will continue with the company as a strategic advisor and remain a member of the Board of Directors.

Mr. Branning was most recently with Amneal Pharmaceuticals, Inc. (NYSE: AMRX) where he served as Senior Vice President and Chief Financial Officer.  He brings a diverse global finance background consisting of over 25 years of experience in corporate finance and accounting, tax, financial planning and analysis, and investor relations.

“I am delighted to welcome Todd to Phathom and to have him join our executive leadership team.  As we continue to grow our organization and prepare for the potential commercialization of vonoprazan, Todd’s expertise in finance and accounting will add great value to our company,” said Terrie Curran, President and Chief Executive Officer of Phathom.  “I would also like to thank David for his many contributions to Phathom and am excited that we will continue to benefit from his expertise in business development and his involvement in other key strategic areas.”

Mr. Branning has extensive finance experience in the pharmaceutical industry.  As SVP, CFO at Amneal Pharmaceuticals, he helped to build, leverage, and optimize infrastructure following the completion of a transformational merger in May 2018.  Prior to Amneal Pharmaceuticals, he served as Senior Vice President, Chief Financial Officer for Teva Pharmaceuticals' (NYSE: TEVA) Global Generic Medicines division.  Mr. Branning led the finance function and served on the leadership team responsible for managing the day-to-day operations of Teva's largest multi-billion dollar commercial unit.  Prior to joining Teva in 2016, he served as Vice President, Finance, for Allergan plc.  Mr. Branning has also served in financial leadership roles at PricewaterhouseCoopers, PPG Industries, Inc. and Merck & Co., Inc.

Mr. Branning holds an MBA degree from Carnegie Mellon University and a BBA from the University of Miami.  He is a Certified Public Accountant and has completed a CFO certification program from The Wharton School at the University of Pennsylvania.  

About Vonoprazan
Vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The U.S. Food and Drug Administration (FDA) has designated vonoprazan as a qualified infectious disease product (QIDP) and awarded Fast Track status for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 18 Phase 3 trials for vonoprazan and received marketing approval in 13 countries in Asia and Latin America.

About Phathom
Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company’s website at www.phathompharma.com or follow the Company on LinkedIn at www.linkedin.com/company/phathompharma.

CONTACTS
Joe Hand
1-877-742-8466
info@phathompharma.com

Media Contact:
Nick Benedetto
1-877-742-8466
media@phathompharma.com

Investor Contact:
Patti Bank
Westwicke Partners
415-513-1284
patti.bank@westwicke.com

FAQ

Who is the new Chief Financial Officer of Phathom Pharmaceuticals?

Todd Branning has been appointed as the new Chief Financial Officer of Phathom Pharmaceuticals.

What is Todd Branning's experience before joining Phathom?

Todd Branning has over 25 years of experience in finance, previously serving as CFO at Amneal Pharmaceuticals and Teva Pharmaceuticals.

What does the FDA designation for vonoprazan mean?

The FDA's Fast Track status for vonoprazan indicates it may expedite the development and review process for treating H. pylori infections.

What role will David Socks retain at Phathom Pharmaceuticals?

David Socks will continue as a strategic advisor and remain a member of the Board of Directors.

How might the leadership change affect Phathom Pharmaceuticals?

The leadership change could impact financial strategy and continuity, with potential implications for the company's growth trajectory.