Phathom Pharmaceuticals, Inc. · NASDAQ:PHAT
Phathom Pharmaceuticals — Q1 2024 Earnings Presentation
22 slides from Phathom Pharmaceuticals's earnings presentation, May 13, 2024
Slide 1: First Quarter 2024 Earnings Conference Call
FIRST QUARTER 2024 EARNINGS CONFERENCE CALL MAY 2024 NASDAQ: PHAT
Slide 2: Today's Agenda
Today’s Business Update Terrie Curran, President & Chief Executive Officer Agenda US Commercial Launch Progress Martin Gilligan, Chief Commercial Officer First Quarter 2024 Results Molly Henderson, Chief Financial & Business Officer Closing Remarks Terrie Curran, President & Chief Executive Officer
Slide 3: Safe harbor
Safe harbor This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, anticipated milestones, anticipated cash runway, expecta
Slide 4: Business Update
Business Update Terrie Curran, President & Chief Executive Officer 4
Slide 5: Focused on three core goals during the early stages of launch
Focused on three core goals during the early stages of launch Communicate clinical superiority vs. a PPI Drive brand awareness and demand Build access for ® patients 5
Slide 6: Great progress made executing on VOQUEZNA launch goals
Great progress made executing on VOQUEZNA launch goals Clinical Superiority Brand Awareness Patient Access Express Scripts National Formularies Cigna Healthcare Formularies This medication and my [GI] saved my life. I suffered for months and had given up. Could 43K + ~ 72M not eat or lie down. Was i
Slide 7: Approaching potential Non-Erosive GERD launch and planned development
Approaching potential Non-Erosive GERD launch and planned development Prepared for an immediate launch into Non-Erosive GERD Daily Dosing July 19, 2024 ~15M Similar Patient Same Target Action Date Dx & Tx Adults1 Journey Writers As Needed treatment of heartburn Treatment of Eosinophilic Esophagitis
Slide 8: VOQUEZNA: Rapid, Potent, Durable
(vonoprazan) tablets zon Bee QUEZNA. RAPID | POTENT | DURABLE Phathom
Slide 9: US Commercial Launch Progress
US Commercial Launch Progress Martin Gilligan, Chief Commercial Officer 9
Slide 10: The commercial launch of VOQUEZNA continues to build momentum
The commercial launch of VOQUEZNA continues to build momentum 43,000 + 17,500 + 3,800 + Total Filled Unique VOQUEZNA VOQUEZNA VOQUEZNA Demand1 Prescriptions2 Writers3 Previously: 14,000+ (as of 3/3/24) Previously: 3,800+ (as of 2/23/24) Previously: 1,200+ (as of 2/16/24) 1 Unique prescriptions writt
Slide 11: Demonstrating consistent monthly growth in key launch metrics
Demonstrating consistent monthly growth in key launch metrics Monthly Filled Prescriptions1 Cumulative Unique Writers2 Partial Month of April ~7,520 Partial Month of April ~5,560 ~3,800 ~2,880 ~2,690 ~1,630 ~1,250 ~750 ~480 ~260 Nov/Dec Jan Feb Mar As of Nov/Dec Jan Feb Mar As of 2023 2024 2024 2024
Slide 12: Building expanded commercial coverage with large payers
Building expanded commercial coverage with large payers 48% ~72M commercial commercial coverage1 lives covered1 Cigna Healthcare As of May 1, 2024: VOQUEZNA added to formularies • 9M+ lives covered1 • Single step edit Additional coverage anticipated throughout 2024 12 1 Per MMIT formulary lookup too
Slide 13: 1 Erosive GERD (Erosive Esophagitis) indication. 2 On 81% of days over 6 months.
1 Erosive GERD (Erosive Esophagitis) indication. 13 2 On 81% of days over 6 months.
Slide 14: VOQUEZNA: Rapid, Potent, Durable
(vonoprazan) tablets zon Bee QUEZNA. RAPID | POTENT | DURABLE Phathom
Slide 15: First Quarter 2024 Results
First Quarter 2024 Results Molly Henderson, Chief Financial & Business Officer 15
Slide 16: Key financial measures: Net Revenues
Key financial measures: Net Revenues Sequential Comparison Year Over Year Comparison $3.0M $3.0M $2.5M $2.5M $2.0M $1.9 $2.0M $1.9 $1.5M $1.5M $1.0M $1.0M $0.7 $0.5M $0.5M $0.0 $0.0M $0.0M Q1 2024 Q4 2023 Q1 2024 Q1 2023 16
Slide 17: Key financial measures: Operating Expenses
Key financial measures: Operating Expenses Sequential Comparison Year Over Year Comparison =13.393-C3=13.393-C3 Non-GAAP SG&A Non-GAAP R&D Stock-based compensation $80M $80M $71.4 $70.4 $71.4 $70M $70M $8.2 $8.2 $60M $60M $50M $50M $6.1 $40M $40M $30.1 $30M $57.6 $30M $57.6 $20M $39.7 $20M $9.7 $10M
Slide 18: Key financial measures: Adjusted Net Loss and Cash
Key financial measures: Adjusted Net Loss and Cash Reconciliation of GAAP to Non-GAAP Adjusted Net Loss $322.2M (in thousands, except per share amounts) in cash and Q1 2024 Q4 2023 cash equivalents as of March 31, 2024 GAAP net loss ($82,852) ($79,569) Stock-based compensation $5,626 $24,583 expense
Slide 19: VOQUEZNA: Rapid, Potent, Durable
(vonoprazan) tablets zon Bee QUEZNA. RAPID | POTENT | DURABLE Phathom
Slide 20: Closing Remarks
Closing Remarks Terrie Curran, President & Chief Executive Officer 20
Slide 21: Delivering on the VOQUEZNA launch strategy according to plan
Delivering on the VOQUEZNA launch strategy according to plan 2H ‘24 Non-Erosive Daily PDUFA 2Q ‘24 target date July 19, 2024 Accelerating prescription Initiate broader DTC volume due to broader 1Q ‘24 campaign addressable population Growth in commercial Full sales force in field access/coverage 4Q ‘
Slide 22: Question & Answer
Question & Answer Terrie Curran, President & Chief Executive Officer Martin Gilligan, Chief Commercial Officer Molly Henderson, Chief Financial & Business Officer Azmi Nabulsi, Chief Operating Officer 22
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