Phathom Pharmaceuticals (PHAT) presented at the 12th Annual Cantor Fitzgerald Global Healthcare Conference on September 9, 2026, sharing updates on its growth, market access, and new therapeutic uses for VOQUEZNA, a potassium-competitive acid blocker (PCAB).
The company reported a trading price of $8.9, down 5.62% from $9.43. The 52-week range for PHAT stock is $8.21 to $18.31. Last twelve months (LTM) revenue growth was 110%, with gross profit margins at 83%. Analysts forecast earnings of $0.04 per share for fiscal 2026.
Phathom provided full-year 2024 revenue guidance of $310 million to $325 million, up from $175 million in 2023. First-half (H1) 2024 revenue grew by 90% compared to H1 2023, and second-quarter (Q2) 2024 revenue increased by 88% year-over-year, with sequential growth of 27% from Q1 to Q2, adding $16 million quarter-over-quarter. The company expects second-half (H2) 2024 growth to be about 70% at the midpoint of guidance.
VOQUEZNA is positioned to address the 30% to 40% of GERD patients who do not achieve adequate relief from traditional PPIs. Surveyed gastroenterologists believe VOQUEZNA is more effective than PPIs, with 97% of them agreeing. The drug has a 93% healing rate for erosive esophagitis within 8 weeks, compared to an 85% rate noted for a competing PCAB candidate. Top GI prescribers are writing VOQUEZNA for more than 30% of their new acid-suppression prescriptions.
Phathom's peak revenue potential framework is north of $2 billion, with over $1 billion expected from gastroenterology practices and another $1 billion from primary care physicians. The company also noted a pediatric exclusivity extension value of about $1 billion in additional revenue on a drug with $2 billion peak sales potential.
Steve Basta, President and CEO, stated, "We are the leaders in introducing a new class of therapy for gastroesophageal reflux." He added, "We are very pleased with the fact that we're growing 70% year-over-year this year."
Phathom's VOQUEZNA is expected to transition to the over-the-counter market around 2033 or 2034, with the earliest generic approval expected in 2033. The earliest a generic filing can be made is 2032, with scenarios potentially extending protection into 2034 or 2035.
Phathom Pharmaceuticals partners with BlinkRx, a prescription facilitation platform, and CVS for market access. The company is also developing new products with timelines aiming to support product launches by 2031, 2032, or 2033.
