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Phathom Pharmaceuticals — Third Quarter 2026 Earnings Summary

  • Q3 2026 net revenues rose 71% year-over-year to $84.7 million, while the net loss narrowed to $13.9 million from $30.0 million in Q3 2025, resulting in a non-GAAP adjusted net income of $3.0 million.
  • The company reaffirmed full-year 2026 guidance for net revenue of $310–325 million and non-GAAP operating expenses of $235–245 million, supported by positive operating cash flow for the second consecutive quarter.
  • VOQUEZNA prescription volume reached over 2 million total since launch, with Q3 2026 seeing 380,000 prescriptions filled, including a 19% sequential increase in covered prescriptions.
  • Topline data for the Phase 2 pHalcon-EoE-201 trial is expected in Q4 2026, while Phase 3 pHalcon-NERD-302 results are projected for Q1 2028.
  • Management maintains confidence in meeting financial obligations without additional financing, though litigation regarding VOQUEZNA's regulatory exclusivity remains an ongoing risk.
Company
PHATHOM PHARMACEUTICALS INC
Sector
Healthcare
Industry
Biotechnology