Phathom Pharmaceuticals Q3 revenue rises 71%

Overview

• US biopharma firm's Q3 revenue rose 71% yr/yr, slightly missing analyst expectations

• Company posted non-GAAP adjusted net income of $3.0 mln, up from a loss last year

• Phathom reaffirmed full-year 2026 financial guidance and saw positive operating cash flow

Outlook

• Phathom reaffirms full-year 2026 net revenue guidance of $310–325 mln

• Company expects full-year 2026 gross margin of about 80%

• Phathom anticipates full-year 2026 non-GAAP operating expenses of $235–245 mln

Result Drivers

• VOQUEZNA PRESCRIPTION GROWTH - Co said revenue increase was driven by continued growth in VOQUEZNA prescriptions, with 380,000 filled in Q3 and covered prescriptions rising 19% sequentially

• ACCESS INITIATIVES - Co implemented new copay offering and promotional materials to improve VOQUEZNA access for patients and providers

• EXPENSE MANAGEMENT - Co attributed improved operating profitability and positive cash flow to disciplined expense management while investing in commercial and clinical priorities

Company press release:

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Phathom Pharmaceuticals, Inc. is $21.00, about 234.4% above its October 28 closing price of $6.28

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 42 three months ago

Reuters Recommended Reads

• Oct 27 - Wave Life Sciences Q3 revenue jumps, beats estimates

• Oct 27 - Kiniksa Pharmaceuticals Q3 ARCALYST revenue jumps 58%; raises guidance

• Oct 26 - Acumen Pharmaceuticals posts smaller than expected Q3 loss

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)