Business
Phathom Pharmaceuticals Reports Third Quarter 2020 Results and Provides Update on Phase 3 Trials
Pivotal Phase 3 PHALCON-EE trial enrollment expected to complete before year-end 2020; top-line results expected in the second half of 2021Pivotal Phase 3
About this update from Phathom Pharmaceuticals, Inc.
[{"type":"text","content":"Pivotal Phase 3 PHALCON-EE trial enrollment expected to complete before year-end 2020; top-line results expected in the second half of 2021Pivotal Phase 3 PHALCON-HP trial enrollment expected to complete in Q1 2021; top-line results expected in Q2 2021 FLORHAM PARK, N.J., Nov. 10, 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 reported financial results for the third quarter of 2020 and provided an update of its ongoing pivotal Phase 3 trials for vonoprazan.\n “We are very pleased with the progress made in the third quarter, especially the robust activity across our trial sites. We expect to complete patient enrollment in both of our Phase 3 trials in the coming months despite the ongoing COVID-19 pandemic,” said Terrie Curran, President and Chief Executive Officer of Phathom Pharmaceuticals. “We continue to build an impressive commercial and medical organization to lay the foundation for the potential launch of vonoprazan. With topline data for both the PHALCON-EE and PHALCON-HP pivotal Phase 3 studies expected in 2021, our teams are executing on our key strategic imperatives to advance the treatment of acid-related disorders.” PHALCON-EE and PHALCON-HP Clinical Trial Updates: During the third quarter of 2020, patient enrollment across Phathom’s U.S. and European clinical trial sites accelerated. Based on the current enrollment rates, the Company believes full enrollment in the PHALCON-EE Phase 3 trial will be achieved before year-end. Additionally, based on current enrollment rates, Phathom expects to achieve full enrollment in the PHALCON-HP Phase 3 trial in the first quarter of 2021.Phathom believes top-line results from PHALCON-HP, studying vonoprazan in H. pylori, will be available in the second quarter of 2021. Top-line results from PHALCON-EE, studying patients with erosive esophagitis, are expected in the second half of 2021. Third Quarter 2020 Financial Results: Third quarter 2020 net loss was $34.1 million compared to $68.1 million for third quarter 2019.Third quarter 2020 net loss included a non-cash charge related to stock-based compensation of $2.1 million compared to the third quarter 2019 non-cash charges of $60.3 million. Third quarter 2019 non-ca...