NASDAQ$PHAT
Phathom Pharmaceuticals Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Phathom reported financial results and provided clinical, regulatory, and business updates.
Phathom Pharmaceuticals reported a net loss of $36.7 million for the third quarter of 2021. The FDA accepted NDAs for two vonoprazan-based treatment regimens for H. pylori infection, and positive Phase 3 trial results for vonoprazan in erosive esophagitis were reported.
- Two New Drug Applications (NDAs) for vonoprazan-based treatment regimens for H. pylori infection were accepted for filing by FDA with six-month Priority Review granted; PDUFA target action date of May 3, 2022.
- U.S. launch for both vonoprazan-based treatment regimens for H. pylori anticipated in the second half of 2022, if approved.
- Positive Phase 3 trial results for vonoprazan in erosive esophagitis (EE) reported in October 2021; NDA submission targeted for the first quarter of 2022.
- Phathom secured an up to $200 million term loan facility from Hercules Capital.
Headline financials
Revenue & EPS history
Phathom · Revenue · Quarterly
$58.3M
Forward guidance
Statements in the press release regarding matters that are not historical facts are forward-looking statements based on current beliefs and expectations.
Tailwinds
- Expected availability of topline results from the PHALCON-NERD on demand clinical trial
- Expected submission of an NDA for the healing of all grades of EE and relief of heartburn, and maintenance of healing of all grades of EE and relief of heartburn
- Expected approval of NDAs for vonoprazan-based treatments for the treatment of H. pylori infection
- Company’s ability to access additional capital under the Loan Agreement
- The inclusion of forward-looking statements should not be regarded as a representation by the Company that any of its plans will be achieved.
Headwinds
- Reported top-line data is based on preliminary analysis of key efficacy and safety data is subject to more audit and verification procedures that could result in material changes in the final data
- Company may experience delays submitting an NDA including in the event that the FDA does not agree with the Company’s interpretation of the data or feedback from the FDA that may be inconsistent with feedback received at prior meetings with the FDA
- Phathom’s ability to access additional capital under the Loan Agreement is subject to certain conditions including verification by the lender that the clinical milestone has been met
- Company’s dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing
- 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
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 2021
-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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