Business
Phathom Pharmaceuticals Reports First Quarter 2026 Financial Results and Provides Business Update
~1.35 million total VOQUEZNA® prescriptions filled to date$58.3 million in Q1 net revenues, a 104% increase year-over-yearQ1 operating expenses of $61.8 million; non-GAAP operating expenses of $56.2 million and net cash usage of ~$15 million, reflecting continued expense discipline and significant year-over-year cost reductionFY 2026 guidance maintained; operating profitability expected beginning in Q3 2026 and for FY 2026Conference call and webcast today, April 30, 2026, at 8:00 a.m. EDT FLORHA
About this update from Phathom Pharmaceuticals, Inc.
FLORHAM PARK, N.J., April 30, 2026 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on commercializing and developing novel treatments for gastrointestinal (GI) diseases, today reported financial results for the first quarter ended March 31, 2026, and provided a business update. “In the first quarter, we more than doubled revenue compared to the prior year Q1. We have implemented our pivot to GI and the associated sales force expansion,” said Steven Basta, President and Chief Executive Officer of Phathom. “We believe there is a path to $1 billion annual revenue in gastroenterology prescriptions, and we are encouraged by the strength of our new-to-brand prescription momentum. Among our top 3,000 GI prescribers as a group, approximately 30% of their new-to-brand prescriptions were for VOQUEZNA, compared to PPIs. While the first quarter reflected seasonal health plan access dynamics and was a bit light to internal expectations, we have seen a return to growth in late March and early April. Two of the first three weeks of April reached all-time weekly highs for covered prescriptions. We believe we are well positioned to strengthen revenue growth and drive continued momentum.” “Our first quarter results demonstrate strong year-over-year revenue growth and continued execution against our plan, with net revenues of $58.3 million and net cash usage of approximately $15 million,” said Sanjeev Narula, Chief Financial and Business Officer of Phathom. “We maintained disciplined operations, reducing year-over-year cash operating expenses by more than 40%, while continuing to invest in our commercial organization and clinical pipeline. With a strong balance sheet, an improved capital structure, and prescription trends strengthening as we enter the second quarter, we are maintaining our full year 2026 guidance and we believe we are on track to achieve operating profitability beginning in the third quarter and for the full year 2026 and reach cash flow positivity in 2027.” Recent Business Highlights and First Quarter 2026 Results VOQUEZNA Commercial Progress: EoE Clinical Trial Update: First Quarter 2026 Financial Results: 2026 Financial Guidance Conference Call and WebcastPhathom will host a conference call and webcast to discuss its first quarter 2026 financial results and business highlights today, April 30, 2026, a...
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