NASDAQ$PHAT
Phathom Pharmaceuticals Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Phathom reported first quarter 2023 results, highlighting progress in advancing vonoprazan and preparing for commercial launch.
Phathom Pharmaceuticals reported a net loss of $37.8 million for Q1 2023, with operating expenses decreasing due to cost control measures. The company is on track to resubmit its Erosive GERD NDA and anticipates a potential commercial launch in Q4 2023. They believe they have sufficient capital to fund operations through the end of 2024.
- Phathom remains on track to resubmit its Erosive GERD NDA this quarter, with potential FDA approval and commercial launch anticipated in Q4 2023.
- Positive topline results were shared from the Phase 3 PHALCON-NERD-301 trial for Non-Erosive GERD, with a regulatory submission expected in the second half of 2023.
- Phathom has secured coverage for 60% of commercial lives for its H. pylori infection treatments VOQUEZNA® TRIPLE PAK® and VOQUEZNA® DUAL PAK®.
- Cash and cash equivalents were reported at $129.6 million as of March 31, 2023.
Headline financials
Revenue & EPS history
Phathom · Revenue · Quarterly
$58.3M
Forward guidance
Phathom anticipates potential approval of its Erosive GERD NDA and subsequent launch in Q4 2023, as well as continued progress in its Non-Erosive GERD program. They expect to have sufficient capital to fund operations through the end of 2024.
Tailwinds
- On track to resubmit Erosive GERD NDA this quarter.
- Potential FDA approval and commercial launch in Q4 2023.
- Positive topline results from Phase 3 PHALCON-NERD-301 trial for Non-Erosive GERD.
- Regulatory submission expected in the second half of 2023 for Non-Erosive GERD.
- Sufficient capital to fund operations through the end of 2024.
Headwinds
- Potential inability to generate required data to meet acceptable nitrosamine impurity intake.
- Risk of the FDA not accepting the Erosive GERD NDA for review.
- Risks associated with product manufacturing or formulation changes.
- The FDA may disagree that existing data is sufficient to approve the erosive esophagitis NDA
- Dependence on third parties for manufacturing, research, and testing.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-2.2%
Avg return
Earnings day
-5.3%
Avg return
5 days after
-0.4%
Avg return
30 days after
42%
11 / 26 earnings
Positive
+10.0%
Q1 2023
Best reaction
-22.8%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.9% | +6.9% | -18.6% | |
| Q4 2025 | +9.9% | -10.3% | -14.1% | |
| Q3 2025 | -1.8% | +8.1% | +9.8% | |
| Q1 2025 | -21.7% | -44.1% | -0.9% | |
| Q4 2024 | -3.0% | -21.2% | -19.7% | |
| Q3 2024 | -6.3% | -47.1% | -50.0% | |
| Q2 2024 | +8.7% | +12.6% | +63.9% | |
| Q1 2024 | -5.6% | +2.9% | +5.0% | |
| Q4 2023 | -8.7% | -16.0% | +13.4% | |
| Q3 2023 | -4.0% | -9.2% | +7.8% | |
| Q2 2023 | +3.0% | +2.0% | -15.8% | |
| Q1 2023 | +10.0% | +5.0% | +8.3% | |
| Q4 2022 | -7.1% | -10.0% | -29.9% | |
| Q3 2022 | -9.8% | +4.0% | +5.3% | |
| Q2 2022 | -22.8% | -20.1% | -3.6% | |
| Q1 2022 | -6.3% | -10.5% | -19.7% | |
| Q4 2021 | +2.0% | -4.2% | -24.9% | |
| Q3 2021 | +1.7% | -2.4% | -13.7% | |
| Q2 2021 | +1.5% | -0.1% | +6.6% | |
| Q1 2021 | +6.4% | +0.9% | +5.9% | |
| Q4 2020 | +3.6% | +1.9% | +9.8% | |
| Q3 2020 | -8.6% | -3.0% | +12.6% | |
| Q2 2020 | +5.1% | +12.2% | +5.3% | |
| Q1 2020 | -0.9% | -1.4% | +24.1% | |
| Q4 2019 | -3.2% | -3.2% | +13.5% | |
| Q3 2019 | +6.5% | +9.1% | +9.0% | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro