NASDAQ$PHAT
Phathom Pharmaceuticals Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Phathom reported promising strides in the first full quarter post-launch of VOQUEZNA with increased prescriptions and revenue.
Phathom Pharmaceuticals reported $1.9 million in net revenues for the first quarter of 2024, marking the first full quarter of VOQUEZNA launch. The company saw over 17,500 total prescriptions dispensed, a 361% increase since the last quarterly report. Cigna Healthcare added VOQUEZNA tablets to its formularies, broadening coverage to approximately 48% of U.S. commercial lives.
- Total prescriptions for VOQUEZNA products reached over 17,500, a 361% increase since last quarter.
- Net revenues for Q1 2024 were $1.9 million, the first full quarter of launch.
- VOQUEZNA tablets were added to Cigna Healthcare formularies, covering approximately 48% of U.S. commercial lives.
- A national direct-to-consumer campaign, “VOQUEZNA Can Kick Some Acid,” was launched across broadcast and streaming TV.
Headline financials
Revenue & EPS history
Phathom · Revenue · Quarterly
$1.91M
Forward guidance
Phathom anticipates increased overall demand and total dispensed prescriptions in the coming months as the launch progresses, formulary coverage broadens, and, if approved, VOQUEZNA’s label expands to include the treatment associated with symptomatic heartburn for Non-Erosive GERD.
Tailwinds
- Expected increase in overall demand for VOQUEZNA.
- Anticipated rise in total dispensed prescriptions.
- Broadening formulary coverage for VOQUEZNA.
- Potential label expansion to include treatment for symptomatic heartburn associated with Non-Erosive GERD.
- Planned robust presence at Digestive Disease Week® (DDW) 2024 to highlight VOQUEZNA tablets.
Headwinds
- Reliance on successful commercialization of VOQUEZNA, VOQUEZNA TRIPLE PAK, and VOQUEZNA DUAL PAK.
- Potential for using capital resources sooner than expected.
- Risks associated with the clinical development of vonoprazan.
- Dependence on third parties for product manufacturing and testing.
- Risk of unexpected adverse side effects or inadequate efficacy of vonoprazan.
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 2024
-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 | — | — | — |
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