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Mar 31, 2024
Phathom Q1 2024 Earnings Report
Phathom reported promising strides in the first full quarter post-launch of VOQUEZNA with increased prescriptions and revenue.
Key Takeaways
Phathom Pharmaceuticals reported $1.9 million in net revenues for the first quarter of 2024, marking the first full quarter of VOQUEZNA launch. The company saw over 17,500 total prescriptions dispensed, a 361% increase since the last quarterly report. Cigna Healthcare added VOQUEZNA tablets to its formularies, broadening coverage to approximately 48% of U.S. commercial lives.
Total prescriptions for VOQUEZNA products reached over 17,500, a 361% increase since last quarter.
Net revenues for Q1 2024 were $1.9 million, the first full quarter of launch.
VOQUEZNA tablets were added to Cigna Healthcare formularies, covering approximately 48% of U.S. commercial lives.
A national direct-to-consumer campaign, “VOQUEZNA Can Kick Some Acid,” was launched across broadcast and streaming TV.
Revenue by Segment
Forward Guidance
Phathom anticipates increased overall demand and total dispensed prescriptions in the coming months as the launch progresses, formulary coverage broadens, and, if approved, VOQUEZNA’s label expands to include the treatment associated with symptomatic heartburn for Non-Erosive GERD.
Positive Outlook
- Expected increase in overall demand for VOQUEZNA.
- Anticipated rise in total dispensed prescriptions.
- Broadening formulary coverage for VOQUEZNA.
- Potential label expansion to include treatment for symptomatic heartburn associated with Non-Erosive GERD.
- Planned robust presence at Digestive Disease Week® (DDW) 2024 to highlight VOQUEZNA tablets.
Challenges Ahead
- Reliance on successful commercialization of VOQUEZNA, VOQUEZNA TRIPLE PAK, and VOQUEZNA DUAL PAK.
- Potential for using capital resources sooner than expected.
- Risks associated with the clinical development of vonoprazan.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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