Phathom Pharmaceuticals Appoints Frank Karbe to its Board of Directors

Rhea-AI Summary

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.

Positive

• Frank Karbe's extensive experience in finance and life sciences may enhance strategic decision-making.
• Karbe's history of guiding companies towards commercialization could aid Phathom in successfully launching its products.

Negative

• Concerns about continuity in leadership given the recent management change.

FLORHAM PARK, N.J., April 26, 2022 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced the appointment of Frank Karbe to its Board of Directors. Mr. Karbe, who most recently served as President and Chief Financial Officer of Myovant Sciences, Inc. (NYSE:MYOV), brings over twenty-five years of financial and life-sciences expertise to Phathom.   

“We are thrilled to welcome Frank to our Board as we approach a critical inflection point for Phathom,” said Terrie Curran, President and Chief Executive Officer of Phathom. “Frank’s financial, business development, and corporate strategy expertise and strong record of readying organizations for commercialization will help guide the execution of our strategic vision.”

As President and Chief Financial Officer of Myovant, Mr. Karbe led the company’s efforts to raise approximately $2 billion in capital and its evolution from a private start-up organization to a publicly listed commercial-stage company with two approved and marketed products. Prior to Myovant, Mr. Karbe served as Executive Vice President and Chief Financial Officer at Exelixis, Inc. (Nasdaq: EXEL), where he drove the biopharma company’s transformation from discovery to commercialization. Earlier in his career, he worked as an investment banker for Goldman Sachs & Co. focusing on corporate finance and mergers and acquisitions in the life sciences industry. Mr. Karbe has previously served on the Board of Directors of Aduro Biotech, Arbutus Biopharma Corporation, and Kolltan Pharmaceuticals, Inc. Mr. Karbe holds a Diplom-Kaufmann (MBA) from the WHU Otto Beisheim School of Management in Koblenz, Germany.

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 and follow the Company on LinkedIn and Twitter.

CONTACTS

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

FAQ

Who is Frank Karbe and what is his role at Phathom Pharmaceuticals?

Frank Karbe has been appointed to the Board of Directors of Phathom Pharmaceuticals, bringing over 25 years of financial and life-sciences expertise.

What is the significance of Frank Karbe's appointment for Phathom Pharmaceuticals?

Karbe's appointment is seen as vital as Phathom approaches a critical stage in executing its strategic vision and commercializing its products.

What experience does Frank Karbe bring to Phathom Pharmaceuticals?

Karbe has previously served as CFO of Myovant Sciences, where he raised approximately $2 billion and led the company from a start-up to a commercial-stage entity.

How might Frank Karbe's appointment impact PHAT's stock performance?

His expertise in commercialization and corporate strategy may improve investor confidence and potentially positively influence PHAT's stock performance.