NASDAQ$PHAT
Phathom Pharmaceuticals Inc · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Phathom Pharmaceuticals reported financial results for the third quarter of 2020 and provided an update on its ongoing pivotal Phase 3 trials for vonoprazan.
Phathom Pharmaceuticals reported a net loss of $34.1 million for the third quarter of 2020, compared to a net loss of $68.1 million for the third quarter of 2019. Research and development expenses increased to $25.8 million, while general and administrative expenses increased to $7.1 million. As of September 30, 2020, cash and cash equivalents were $226.4 million.
- Patient enrollment accelerated across U.S. and European clinical trial sites during Q3 2020.
- Full enrollment in the PHALCON-EE Phase 3 trial is expected before year-end 2020.
- Full enrollment in the PHALCON-HP Phase 3 trial is expected in Q1 2021.
- Top-line results from PHALCON-HP are expected in Q2 2021, and PHALCON-EE in the second half of 2021.
Headline financials
Revenue & EPS history
Phathom · Revenue · Quarterly
$58.3M
Forward guidance
Phathom expects to complete patient enrollment in both of its Phase 3 trials in the coming months.
Tailwinds
- Full enrollment in the PHALCON-EE Phase 3 trial will be achieved before year-end.
- Full enrollment in the PHALCON-HP Phase 3 trial will be achieved in the first quarter of 2021.
- Top-line results from PHALCON-HP will be available in the second quarter of 2021.
- Top-line results from PHALCON-EE are expected in the second half of 2021.
- Continued to add experienced biopharmaceutical leaders to its commercial and medical functions.
Headwinds
- The rate of patient enrollment in PHALCON-EE and PHALCON-HP due to the COVID-19 pandemic is highly uncertain.
- Potential additional delays in the commencement, enrollment and completion of clinical trials.
- Patients already enrolled in PHALCON-EE and PHALCON-HP may not complete the clinical trials or public health conditions and governmental restrictions may lead to stopping such trials all together.
- Unexpected adverse side effects or inadequate efficacy of vonoprazan that may limit its development, regulatory approval and/or commercialization, or may result in recalls or product liability claims.
- The company's ability to maintain undisrupted business operations due to the ongoing spread of the COVID-19 coronavirus, including delaying or otherwise disrupting our clinical trials, manufacturing and supply chain.
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 Q3 2020
-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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