Phathom Pharmaceuticals Announces Leadership Succession
Phathom Pharmaceuticals (NASDAQ: PHAT) has announced a significant leadership change with the appointment of Steven Basta as President, CEO, and Board member, effective immediately. Basta replaces Terrie Curran, who is stepping down from her positions for personal reasons after five years of leadership.
The company, which focuses on developing and commercializing novel treatments for gastrointestinal (GI) diseases, views this transition as an opportunity to accelerate commercial growth. Chairman Michael Cola expressed confidence in Basta's extensive commercial expertise and track record in developing novel treatments.
Under this transition, Phathom aims to expand opportunities for their product VOQUEZNA® and enhance shareholder value. The new CEO emphasized his commitment to unlocking VOQUEZNA's full potential in addressing unmet needs in GI disease treatment.
Phathom Pharmaceuticals (NASDAQ: PHAT) ha annunciato un importante cambiamento nella leadership con la nomina di Steven Basta come Presidente, CEO e membro del Consiglio, con effetto immediato. Basta sostituisce Terrie Curran, che si dimette dalle sue posizioni per motivi personali dopo cinque anni di leadership.
L'azienda, che si concentra sullo sviluppo e la commercializzazione di nuovi trattamenti per le malattie gastrointestinali (GI), considera questa transizione come un'opportunità per accelerare la crescita commerciale. Il presidente Michael Cola ha espresso fiducia nell'ampia esperienza commerciale di Basta e nel suo curriculum nella sviluppo di nuovi trattamenti.
Con questa transizione, Phathom mira ad ampliare le opportunità per il loro prodotto VOQUEZNA® e a migliorare il valore per gli azionisti. Il nuovo CEO ha sottolineato il suo impegno a sbloccare il pieno potenziale di VOQUEZNA nell'affrontare le esigenze insoddisfatte nel trattamento delle malattie GI.
Phathom Pharmaceuticals (NASDAQ: PHAT) ha anunciado un cambio significativo en la dirección con el nombramiento de Steven Basta como Presidente, CEO y miembro de la Junta, con efecto inmediato. Basta reemplaza a Terrie Curran, quien renuncia a sus cargos por razones personales después de cinco años de liderazgo.
La compañía, que se centra en desarrollar y comercializar nuevos tratamientos para enfermedades gastrointestinales (GI), ve esta transición como una oportunidad para acelerar el crecimiento comercial. El presidente Michael Cola expresó confianza en la amplia experiencia comercial de Basta y su trayectoria en el desarrollo de nuevos tratamientos.
Con esta transición, Phathom tiene como objetivo expandir las oportunidades para su producto VOQUEZNA® y mejorar el valor para los accionistas. El nuevo CEO enfatizó su compromiso de desbloquear el pleno potencial de VOQUEZNA en la atención a las necesidades no satisfechas en el tratamiento de enfermedades GI.
Phathom Pharmaceuticals (NASDAQ: PHAT)는 Steven Basta를 사장, CEO 및 이사로 즉시 임명하는 중요한 리더십 변화를 발표했습니다. Basta는 5년간의 리더십을 마치고 개인적인 이유로 자리에서 물러나는 Terrie Curran을 대체합니다.
이 회사는 위장관(GI) 질환에 대한 새로운 치료법을 개발하고 상용화하는 데 중점을 두고 있으며, 이번 전환을 상업적 성장을 가속화할 기회로 보고 있습니다. 회장인 Michael Cola는 Basta의 폭넓은 상업적 전문성과 새로운 치료법 개발에 대한 실적에 대한 신뢰를 표명했습니다.
이번 전환을 통해 Phathom은 제품 VOQUEZNA®의 기회를 확대하고 주주 가치를 향상시키는 것을 목표로 하고 있습니다. 새로운 CEO는 GI 질환 치료에서 충족되지 않은 요구를 해결하기 위해 VOQUEZNA의 잠재력을 최대한 발휘하겠다는 의지를 강조했습니다.
Phathom Pharmaceuticals (NASDAQ: PHAT) a annoncé un changement significatif de direction avec la nomination de Steven Basta en tant que Président, CEO et membre du Conseil, prenant effet immédiatement. Basta remplace Terrie Curran, qui démissionne de ses fonctions pour des raisons personnelles après cinq ans de leadership.
L'entreprise, qui se concentre sur le développement et la commercialisation de nouveaux traitements pour les maladies gastro-intestinales (GI), considère cette transition comme une opportunité d'accélérer la croissance commerciale. Le président Michael Cola a exprimé sa confiance dans l'expertise commerciale étendue de Basta et son parcours dans le développement de nouveaux traitements.
Dans le cadre de cette transition, Phathom vise à élargir les opportunités pour son produit VOQUEZNA® et à améliorer la valeur pour les actionnaires. Le nouveau CEO a souligné son engagement à libérer le plein potentiel de VOQUEZNA pour répondre aux besoins non satisfaits dans le traitement des maladies GI.
Phathom Pharmaceuticals (NASDAQ: PHAT) hat einen bedeutenden Führungswechsel mit der Ernennung von Steven Basta zum Präsidenten, CEO und Vorstandsmitglied, der sofort wirksam wird, angekündigt. Basta ersetzt Terrie Curran, die aus persönlichen Gründen nach fünf Jahren Führung zurücktritt.
Das Unternehmen, das sich auf die Entwicklung und Vermarktung neuartiger Behandlungen für gastrointestinale (GI) Erkrankungen konzentriert, sieht diesen Übergang als Gelegenheit, das kommerzielle Wachstum zu beschleunigen. Vorsitzender Michael Cola äußerte Vertrauen in Bastas umfangreiche kommerzielle Expertise und Erfolgsbilanz bei der Entwicklung neuer Behandlungen.
Im Rahmen dieses Übergangs strebt Phathom an, die Möglichkeiten für ihr Produkt VOQUEZNA® zu erweitern und den Aktionärswert zu steigern. Der neue CEO betonte sein Engagement, das volle Potenzial von VOQUEZNA zur Behebung unerfüllter Bedürfnisse bei der Behandlung von GI-Erkrankungen zu erschließen.
- Strategic leadership transition with experienced biopharmaceutical executive appointment
- Focused strategy on commercial acceleration and market expansion for VOQUEZNA
- Successfully transformed from clinical-stage to commercial company under previous leadership
- Unexpected CEO departure could create temporary leadership transition uncertainty
Insights
Phathom Pharmaceuticals' CEO transition signals a strategic pivot toward commercial acceleration at a pivotal moment in the company's evolution. The appointment of Steven Basta to replace outgoing CEO Terrie Curran comes as Phathom transitions from clinical-stage to commercial operations for VOQUEZNA, their treatment for gastrointestinal diseases.
This leadership change appears deliberately timed to capitalize on VOQUEZNA's market potential. The board's statements emphasize Basta's commercial expertise rather than clinical development skills, indicating a clear shift in corporate priorities. Curran successfully navigated the regulatory pathway over her five-year tenure, but Basta's background in "commercial strategy, sales and operations" suggests the board seeks different capabilities to maximize revenue potential.
The gastrointestinal therapeutics market represents a significant commercial opportunity with substantial unmet needs. The company's focused approach on VOQUEZNA commercialization rather than pipeline expansion indicates a near-term strategy prioritizing market penetration and revenue generation over diversification.
While leadership transitions inherently create short-term uncertainty, this change appears strategically sound given Phathom's current lifecycle stage. The critical question for investors is whether Basta can effectively accelerate commercial adoption in the highly competitive GI therapeutic space while maintaining the organizational momentum established under Curran's leadership.
FLORHAM PARK, N.J., April 01, 2025 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases, today announced that Steven Basta has been appointed President and Chief Executive Officer and a member of the Board of Directors, effective immediately. Mr. Basta succeeds Terrie Curran, who is stepping down as President and CEO and as a member of the Board of Directors for personal reasons.
“We are excited to welcome Steve to Phathom during this important growth period for our Company,” said Michael Cola, Chairman of Phathom. “Steve is an accomplished biopharmaceutical leader with a strong track record of developing and commercializing novel treatments and building growth-oriented organizations. To expand upon Phathom’s strong foundation, the Board seeks to further accelerate our commercial growth and believes Steve’s breadth of experience, extensive commercial expertise and passion for bringing novel therapies to patients will be extremely valuable as we continue getting VOQUEZNA® in the hands of patients in need. We are confident Steve is the right leader to take Phathom to the next level and look forward to working with him to expand opportunities for VOQUEZNA, deliver critical treatments for patients and drive enhanced shareholder value.”
“I am thrilled to lead Phathom through this next phase of the Company’s commercial journey,” Mr. Basta said. “The Phathom team has only just begun to unlock the full potential of VOQUEZNA to treat the significant unmet needs of patients with GI diseases. This market needs innovative treatment options, and I believe Phathom is uniquely positioned to capture the significant opportunities that lie ahead. I look forward to leveraging my experience in new product development, commercial strategy, sales and operations to accelerate growth and positively impact patients’ lives.”
Ms. Curran commented, “It has been an honor to serve as Phathom’s CEO over the past five years. I am proud of what our team has achieved to change the treatment landscape for patients suffering from GI diseases. It has been a remarkable journey, and I am grateful for the team’s dedication and support for our mission. I’m confident the Company is well positioned for growth and many more accomplishments in the years ahead.”
Mr. Cola continued, “We are grateful for Terrie’s leadership, and the role she has played in advancing Phathom from clinical stage to a commercial company. We wish her all the best in the future.”
About Steven Basta
Mr. Basta has more than 25 years of leadership experience in the biopharmaceutical and medical device industry. Mr. Basta served as CEO of SaNOtize, a company that develops and commercializes anti-infective therapies since 2023. SaNOtize has recently launched novel nitric oxide-based topical infection products in the US. Prior to this role, he served as CEO of Mahana Therapeutics, a prescription digital therapeutic company which launched the first FDA-approved digital app treatment for irritable bowel syndrome and developed a novel digital therapy for tinnitus. He previously served as CEO of Menlo Therapeutics (now VYNE Therapeutics), AlterG, BioForm Medical and its successor Merz Aesthetics. During his tenure at BioForm Medical and later Merz Aesthetics Mr. Basta built a leading worldwide medical aesthetics business with industry-leading innovations in product design, new applications, and commercial strategies.
He currently serves on the board of directors of DermBiont, Inc. and VYNE Therapeutics.
Mr. Basta holds an MBA from the Kellogg Graduate School of Management at Northwestern University and a BA in Biomedical Engineering from Johns Hopkins University.
About Phathom Pharmaceuticals, Inc.
Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases. Phathom has in-licensed the exclusive rights to vonoprazan, a first-in-class potassium-competitive acid blocker (PCAB) that is currently marketed in the United States as VOQUEZNA® (vonoprazan) tablets for the relief of heartburn associated with Non-Erosive GERD in adults, the healing and maintenance of healing of Erosive GERD in adults and relief of associated heartburn, in addition to VOQUEZNA® TRIPLE PAK® (vonoprazan tablets, amoxicillin capsules, clarithromycin tablets) and VOQUEZNA® DUAL PAK® (vonoprazan tablets, amoxicillin capsules) for the treatment of H. pylori infection in adults. For more information about Phathom, visit the company’s website at www.phathompharma.com follow on LinkedIn and X.
Forward-Looking Statements
This press release contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about expanding opportunities for VOQUEZNA, driving enhanced shareholder value and future commercial growth. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom’s business, including, without limitation: risks and uncertainties related to management and key personnel changes; we may not be able to successfully commercialize VOQUEZNA, VOQUEZNA TRIPLE PAK and VOQUEZNA DUAL PAK, which will depend on a number of factors including coverage and reimbursement levels from governmental authorities and health insurers as well as market acceptance by healthcare providers; Phathom’s dependence on third parties in connection with product manufacturing; regulatory developments in the United States and foreign countries; unexpected adverse side effects or inadequate efficacy of vonoprazan that may limit its development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; the FDA may reject Phathom’s request to correct the Orange Book listings identifying the expiration date for the NCE exclusivity period on the VOQUEZNA tablets Orange Book listings; the FDA may take longer than Phathom expects to act on its CP, if at all; members of the public may comment on the CP which may influence the FDA’s decision; Phathom’s ability to obtain and maintain intellectual property protection, including patent term extensions, and non-patent regulatory exclusivity for vonoprazan; Phathom may face competition earlier than expected if it loses or fails to obtain any of its patent protection or non-patent regulatory exclusivity for VOQUEZNA tablets; and other risks described in the Company’s prior press releases and the Company’s filings with the Securities and Exchange Commission (SEC), including under the heading “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
MEDIA CONTACT
Nick Benedetto
1-877-742-8466
media@phathompharma.com
INVESTOR CONTACT
Eric Sciorilli
1-877-742-8466
ir@phathompharma.com
© 2025 Phathom Pharmaceuticals. All rights reserved.
VOQUEZNA, VOQUEZNA DUAL PAK, VOQUEZNA TRIPLE PAK, Phathom Pharmaceuticals, and their respective logos are registered trademarks of Phathom Pharmaceuticals, Inc.
FAQ
Who is the new CEO of Phathom Pharmaceuticals (PHAT) and when does the appointment take effect?
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