Financial Performance and Business Update – Q3 2026

Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT) released its third‑quarter 2026 financial results on 29 October 2026. The company reported net revenues of $84.7 million, a year‑over‑year increase of 71 % and a sequential rise of 14 % from Q2 2026. Net revenues were driven primarily by the commercial launch of VOQUEZNA®, the first‑in‑class gastro‑esophageal reflux disease (GERD) therapy.

Revenue and Prescription Volume

  • Total VOQUEZNA® prescriptions filled exceeded 2 million since launch, with 380,000 prescriptions reported for Q3 2026.
  • Covered prescriptions represented 65 % of total volume, up 19 % sequentially; cash‑pay prescriptions grew 6 % from Q2 2026.
  • The company noted that the second‑million‑prescription milestone was reached in less than one year after the first‑million milestone, underscoring rapid market penetration.

Operating Performance

  • The quarter produced positive operating cash flow for the second consecutive period, signaling improved liquidity.
  • Management highlighted disciplined expense management and a continued focus on cost control alongside revenue growth.
  • CEO Steve Basta described the results as “solid revenue growth and improved operating profitability,” while CFO Sanjeev Narula emphasized the company’s strengthened financial foundation and flexibility to invest in commercial and clinical priorities.

Guidance and Outlook

  • Phathom reaffirmed its full‑year 2026 guidance. Analysts expect a loss per share of –$0.721 for FY 2026 versus a prior‑year loss of –$3.030, reflecting the company’s ongoing profitability transition.
  • Revenue guidance for the full year is projected at $315.2 million, a substantial increase over the $175.1 million reported in FY 2025.
  • The company remains confident in meeting its financial obligations and delivering on the stated guidance.

Investor Communications

A conference call and webcast were scheduled for 29 October 2026 at 8:00 a.m. EDT to discuss the results in detail. The call provided an opportunity for analysts to ask questions regarding the company’s commercial strategy, pricing dynamics, and future growth plans.

The information presented is drawn solely from the company’s Q3 2026 earnings release, analyst expectations reported in German financial media, and publicly available market data. No additional commentary or speculative material is included.