Loading...
•
Mar 31, 2022
Phathom Q1 2022 Earnings Report
Phathom reported first quarter 2022 results, highlighted by FDA approval for VOQUEZNA TRIPLE and DUAL PAKs and a revenue interest financing agreement.
Key Takeaways
Phathom Pharmaceuticals reported a net loss of $40.7 million for the first quarter of 2022. The company received FDA approval for VOQUEZNA TRIPLE PAK and VOQUEZNA DUAL PAK and strengthened its balance sheet with a revenue interest financing agreement.
Received FDA approval for VOQUEZNA TRIPLE PAK and VOQUEZNA DUAL PAK for H. pylori infection treatment.
Signed a revenue interest financing agreement for up to $260 million in non-dilutive financing.
Commenced a Phase 3 NERD development program with the initiation of a pivotal Phase 3 vonoprazan daily dosing trial.
Appointed Molly Henderson as Chief Financial and Business Officer and Frank Karbe to its Board of Directors.
Phathom
Phathom
Forward Guidance
Phathom expects to launch vonoprazan-based therapies for H. pylori in Q3 2022 and believes it has sufficient capital to fund operations through 2024.
Positive Outlook
- Planned launch of vonoprazan-based therapies for the treatment of H. pylori infection in the third quarter of 2022.
- Initiation of a Phase 3 on-demand dosing trial for NERD.
- Availability of additional funds under revenue interest financing agreement.
- Availability of additional funds under the loan agreement with Hercules Capital.
- Sufficiency of capital to fund the Company’s operations through 2024.
Challenges Ahead
- Inherent risks of clinical development of vonoprazan.
- Dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing.
- Regulatory developments in the United States and foreign countries.
- Ability to successfully launch and commercialize vonoprazan.
- Unexpected adverse side effects or inadequate efficacy of vonoprazan.