1. FLORHAM PARK, N.J., Sept. 20, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported it has obtained a $200 million term loan facility from Hercules Capital, Inc. (NYSE:HTGC), a leader in customized debt financing for companies in life sciences and technology-related markets. This additional capital further strengthens Phathom's balance sheet in advance of anticipated key catalysts, including data from the pivotal PHALCON-EE Phase 3 trial of vonoprazan for the treatment of erosive esophagitis in October 2021, data from the Phase 2 trial of vonoprazan for the treatment of non-erosive…

    FLORHAM PARK, N.J., Sept. 20, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported it has obtained a $200 million term loan facility from Hercules Capital, Inc. (NYSE:HTGC), a leader in customized debt financing for companies in life sciences and technology-related markets. This additional capital further strengthens Phathom's balance sheet in advance of anticipated key catalysts, including data from the pivotal PHALCON-EE Phase 3 trial of vonoprazan for the treatment of erosive esophagitis in October 2021, data from the Phase 2 trial of vonoprazan for the treatment of non-erosive reflux disease in the first quarter of 2022, and FDA approval and commercial launch of vonoprazan-based regimens for the treatment of H. pylori in the second half of 2022. This non-dilutive financing extends Phathom's projected cash runway to mid-2023 based on the Company's current operating plans.

    "Vonoprazan has the potential to become the first innovative treatment for patients with acid-related disorders approved in the US in more than thirty years," said Terrie Curran, President and Chief Executive Officer of Phathom. "This non-dilutive $200 million term loan facility significantly strengthens our balance sheet ahead of vonoprazan's potential US commercial launch and provides Phathom with additional financial flexibility as we continue to work to change the landscape for patients with gastrointestinal diseases."

    "Hercules is proud to partner with Phathom ahead of several important milestones as they advance their vonoprazan development programs and prepare for a potential commercial launch," said Bryan Jadot, Senior Managing Director and Life Sciences Group Head at Hercules Capital. "The substantial capital commitment from Hercules aims to help Phathom deliver on their important mission to improve the lives of people suffering from acid related gastrointestinal diseases and reflects our dedication to financing promising life science companies," added Lake McGuire, Managing Director at Hercules Capital.

    Under the terms of the $200 million term loan facility, $100 million was drawn at closing, and an additional $100 million becomes available in two tranches of $50 million each. The first $50 million tranche becomes available upon the receipt of positive data from the PHALCON-EE Phase 3 trial. The second $50 million tranche becomes available upon the occurrence of both FDA approval of a vonoprazan-based regimen for the treatment of H. pylori and FDA acceptance of filing of a new drug application for vonoprazan for the treatment of erosive esophagitis. Approximately $54 million of the initial $100 million drawn down by the Company will be used to pay off the principal of the Company's existing outstanding term loan. The new facility provides for an interest-only period of three years, which is extendable based on the achievement of certain regulatory milestones. The loan facility is secured by the Company's assets.

    Armentum Partners acted as the Company's exclusive financial advisor on this transaction.

    Additional details of the loan agreement will be filed with the Securities and Exchange Commission on a Current Report on Form 8-K.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at  www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: the potential acceptance and approval by the FDA of our NDAs for vonoprazan; our plans to commercially launch vonoprazan in the second half of 2022; and our anticipated cash runway. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: the FDA may disagree that the existing safety and efficacy data is sufficient to accept or approve the NDAs; the inherent risks of clinical development of vonoprazan; Phathom's dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; Phathom's ability to obtain and maintain intellectual property protection for vonoprazan; Phathom's ability to comply with its license agreement with Takeda; Phathom's ability to maintain undisrupted business operations due to the COVID-19 coronavirus, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain; and other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Joe Hand

    1-877-742-8466

    ir@phathompharma.com



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  2. FLORHAM PARK, N.J., Sept. 08, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that it has submitted two new drug applications (NDAs) to the U.S. Food and Drug Administration (FDA) for the use of vonoprazan in combination with amoxicillin and clarithromycin (vonoprazan triple therapy) and vonoprazan in combination with amoxicillin (vonoprazan dual therapy) as a treatment for Helicobacter pylori (H. pylori) infection in adults. With current standard of care therapies, H. pylori eradication rates have declined in the U.S. If approved, vonoprazan-based treatments offer two…

    FLORHAM PARK, N.J., Sept. 08, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that it has submitted two new drug applications (NDAs) to the U.S. Food and Drug Administration (FDA) for the use of vonoprazan in combination with amoxicillin and clarithromycin (vonoprazan triple therapy) and vonoprazan in combination with amoxicillin (vonoprazan dual therapy) as a treatment for Helicobacter pylori (H. pylori) infection in adults. With current standard of care therapies, H. pylori eradication rates have declined in the U.S. If approved, vonoprazan-based treatments offer two new therapeutic options that have demonstrated superior eradication rates as compared to standard of care lansoprazole-based triple therapy.  

    "The submission of these NDAs is the first step towards addressing the declining H. pylori eradication rates in the U.S. and providing new potential treatment options for the millions of H. pylori sufferers in need of more efficacious treatments," said Azmi Nabulsi, M.D., Chief Operating Officer at Phathom. "Today's announcement underscores Phathom's commitment to changing the treatment landscape for acid-related diseases. If approved, patients and healthcare providers would have two novel options to combat this highly prevalent bacterial infection. We look forward to working with the FDA to advance these vonoprazan-based treatment regimens toward approval. If approved, we anticipate launch in the U.S. in the second half of 2022."

    These NDAs are based on the positive data previously announced from Phathom's pivotal Phase 3 PHALCON-HP trial, the largest U.S. registrational trial ever conducted for H. pylori. The study evaluated eradication rates of H. pylori infection using vonoprazan triple therapy and vonoprazan dual therapy compared to lansoprazole-based triple therapy. Vonoprazan triple therapy and vonoprazan dual therapy successfully met the study's primary non-inferiority endpoints and all secondary endpoints, demonstrating superior eradication rates versus lansoprazole-based triple therapy among all patients including in patients with clarithromycin resistant strains of H. pylori.

    The FDA has previously designated vonoprazan triple therapy and vonoprazan dual therapy as qualified infectious disease products (QIDP) and awarded them Fast Track designation, in each case, for the treatment of H. pylori infection. In connection with the NDA submissions, Phathom requested Priority Review, which, if granted, will shorten the review period from 10 months to 6 months following FDA acceptance of the submissions for filing.

    About Helicobacter pylori (H. pylori) infection

    H. pylori is a bacterial pathogen that is estimated to infect over 200 million individuals in the United States and Europe. Approximately 50% of the world and 36% of the US population are infected with the bacterium.1 In many cases, H. pylori is acquired in childhood and through intrafamilial transmission.2 As a result of the chronic inflammation induced by H. pylori infection, infected patients develop a range of pathologies including dyspepsia, peptic ulcer disease, gastric cancer, and mucosa-associated lymphoid tissue (MALT) lymphoma.3 Studies have found that roughly 1 in 5 patients treated for H. pylori will fail first line therapy when using standard clarithromycin triple therapy.2,4  

    About PHALCON-HP

    PHALCON-HP was a randomized, multicenter, Phase 3 trial that enrolled 1046 patients of which 992 patients with a confirmed H. pylori infection were randomized to one of three arms: vonoprazan 20 mg administered twice a day (BID) and amoxicillin 1g administered three times a day (TID) (n=324); vonoprazan 20 mg BID, amoxicillin 1g BID and clarithromycin 500 mg BID (n=338); and lansoprazole 30 mg BID, amoxicillin 1g BID and clarithromycin 500 mg BID (n=330). Each treatment regimen was administered for 14 days. Diagnoses of infection and test of cure were confirmed by 13C-urea breath test. Additional efficacy analyses were conducted using the pre-specified per protocol population (n=822), a subset of the mITT population comprised of patients who were protocol compliant.

    About Vonoprazan

    Vonoprazan is an investigational, oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The FDA has awarded qualified infection disease product (QIDP) status and granted Fast Track designation to vonoprazan in combination with both amoxicillin and clarithromycin and with amoxicillin alone for the treatment of H. pylori infection. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 19 Phase 3 trials for vonoprazan and received marketing approval in Japan and numerous other countries in Asia and Latin America.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at  www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: the potential acceptance and approval by the FDA of our NDAs for vonoprazan; the ability of vonoprazan-based treatments to address declining H. pylori eradication rates; and our plans to commercially launch vonoprazan in the second half of 2022. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: the FDA may disagree that the existing safety and efficacy data is sufficient to accept or approve the NDAs; the inherent risks of clinical development of vonoprazan; Phathom's dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; Phathom's ability to obtain and maintain intellectual property protection for vonoprazan; Phathom's ability to comply with its license agreement with Takeda; Phathom's ability to maintain undisrupted business operations due to the COVID-19 coronavirus, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain; and other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.


    1 Hooi et al. Gastroenterology. 2017;153:420.

    2 Chey et al. Am J Gastroenterol.2017;112:212.

    3 Malfertheiner et al. Gut. 2017;66:6.

    4 Alsamman et al. Dig Dis Sci. 2019;64:2893.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Joe Hand

    1-877-742-8466

    ir@phathompharma.com



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  3. FLORHAM PARK, N.J., Aug. 31, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that Terrie Curran, President and CEO, Azmi Nabulsi, M.D., Chief Operating Officer, and Martin Gilligan, Chief Commercial Officer, will participate in a fireside chat at the Morgan Stanley 19th Annual Global Healthcare Conference on Tuesday, September 14, 2021 at 11:00 a.m. ET.

    Members of Phathom's management team will also participate in one-on-one meetings during the virtual conference which runs from September 9-15, 2021.

    To access the live webcast and archived recording of the presentation…

    FLORHAM PARK, N.J., Aug. 31, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that Terrie Curran, President and CEO, Azmi Nabulsi, M.D., Chief Operating Officer, and Martin Gilligan, Chief Commercial Officer, will participate in a fireside chat at the Morgan Stanley 19th Annual Global Healthcare Conference on Tuesday, September 14, 2021 at 11:00 a.m. ET.

    Members of Phathom's management team will also participate in one-on-one meetings during the virtual conference which runs from September 9-15, 2021.

    To access the live webcast and archived recording of the presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations. The recording will be available for 90 days following the event.

    About Phathom Pharmaceuticals, Inc.

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Joe Hand

    1-877-742-8466

    ir@phathompharma.com



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    • Pivotal Phase 3 PHALCON-EE trial topline data for vonoprazan in erosive esophagitis expected in October 2021
    • Phase 2 PHALCON-NERD on-demand trial for vonoprazan in non-erosive reflux disease enrolling ahead of schedule with topline data now expected in the first quarter of 2022

    FLORHAM PARK, N.J., Aug. 10, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the second quarter of 2021 and provided an update on expected clinical and regulatory milestones.

    "Our execution against key priorities through the second quarter has advanced several critical catalysts…

    • Pivotal Phase 3 PHALCON-EE trial topline data for vonoprazan in erosive esophagitis expected in October 2021
    • Phase 2 PHALCON-NERD on-demand trial for vonoprazan in non-erosive reflux disease enrolling ahead of schedule with topline data now expected in the first quarter of 2022

    FLORHAM PARK, N.J., Aug. 10, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the second quarter of 2021 and provided an update on expected clinical and regulatory milestones.

    "Our execution against key priorities through the second quarter has advanced several critical catalysts which we expect will lay the foundation for Phathom's long-term success," said Terrie Curran, Phathom's President and Chief Executive Officer. "We continue to progress our GERD development programs, which have the potential to address the unmet needs in a population of approximately 65 million people in the U.S. We are expecting topline data from our pivotal Phase 3 PHALCON-EE trial evaluating vonoprazan for erosive esophagitis (EE) in October 2021 and are now expecting topline data from our Phase 2 PHALCON-NERD trial evaluating vonoprazan as an on-demand treatment for non-erosive reflux disease (NERD) in Q1 2022. Additionally, we are nearing the submission of new drug applications (NDAs) to the FDA for both the dual and triple vonoprazan-based regimens for the treatment of H. pylori infection, now expected in September 2021. The anticipated progress over the next several months will be key to advancing our mission of changing the landscape in gastrointestinal diseases."

    Clinical Development and Regulatory Timing Updates:

    • Phathom has accelerated its work on the NDAs for dual and triple vonoprazan-based regimens for the treatment of H. pylori infection and now expects to submit both NDAs in September 2021 instead of in the fourth quarter of 2021.
    • Topline results from PHALCON-EE, a pivotal Phase 3 trial evaluating vonoprazan for the healing and maintenance of erosive esophagitis, are expected in October 2021.
    • Topline results from the PHALCON-NERD on-demand Phase 2 trial evaluating various doses of vonoprazan as an on-demand therapy for patients with non-erosive reflux disease are expected in the first quarter of 2022.

    Second Quarter 2021 Financial Results:

    • Second quarter 2021 net loss was $36.6 million compared to $21.1 million for the second quarter of 2020.
    • Second quarter 2021 net loss included a non-cash charge related to stock-based compensation of $4.2 million compared to the second quarter of 2020 non-cash charge related to stock-based compensation of $0.8 million.
    • Second quarter 2021 research and development expenses increased to $21.6 million compared to $14.9 million for the second quarter 2020 as a result of higher clinical trial costs, higher chemistry, manufacturing, and controls (CMC) costs, and higher personnel-related expenses.
    • Second quarter 2021 general and administrative expenses increased to $13.7 million compared to $5.2 million for the second quarter of 2020 due to the ongoing buildout of administrative and commercial functions.
    • As of June 30, 2021, cash and cash equivalents were $209.7 million. Cash and cash equivalents are expected to be sufficient to meet anticipated cash requirements into the fourth quarter of 2022.

    About Vonoprazan

    Vonoprazan is an investigational, oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The FDA has designated vonoprazan in combination with both amoxicillin and clarithromycin and with amoxicillin alone as qualified infectious disease products (QIDP) and awarded them Fast Track status for the treatment of H. pylori infection. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 19 Phase 3 trials for vonoprazan and received marketing approval in Japan and numerous other countries in Asia and Latin America.

    About Phathom Pharmaceuticals, Inc.

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected availability of topline results from the PHALCON-EE Phase 3 and the Phase 2 NERD on demand clinical trials; and the expected submission of New Drug Applications for vonoprazan-based therapies for the eradication of H. pylori infection. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: potential additional delays in the commencement, enrollment and completion of clinical trials due to the COVID-19 pandemic and other factors outside of Phathom's control; patients already enrolled in the Phase 2 NERD study may not complete the clinical trial or public health conditions and governmental restrictions may lead Phathom to stop such trial all together, which may adversely impact its trial results and development plans; Phathom's dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may be withdrawn or not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; Phathom's ability to obtain and maintain intellectual property protection for vonoprazan; Phathom's ability to comply with its license agreement with Takeda; Phathom's ability to maintain undisrupted business operations due to the ongoing spread of the COVID-19 coronavirus, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain, and other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Joe Hand

    1-877-742-8466

    ir@phathompharma.com

    PHATHOM PHARMACEUTICALS, INC.

    Balance Sheets

    (Unaudited)

    (in thousands, except share and par value amounts)

      June 30,

    2021
      December 31,

    2020
     
    Assets        
    Current assets:        
    Cash and cash equivalents $209,669  $287,496 
    Prepaid expenses and other current assets (including related party amounts of $0 and $82, respectively)  1,669   3,872 
    Total current assets  211,338   291,368 
    Property, plant and equipment, net  803   986 
    Operating lease right-of-use assets  2,147   2,373 
    Other long-term assets  291   384 
    Total assets $214,579  $295,111 
             
    Liabilities and Stockholders' Equity        
    Current liabilities:        
    Accounts payable (including related party amounts of $124 and $173, respectively) $5,401  $16,782 
    Accrued clinical trial expenses  14,238   19,997 
    Accrued expenses (including related party amounts of $1,505 and $734, respectively)  8,845   10,606 
    Accrued interest  302   312 
    Current portion of long-term debt  10,345   7,353 
    Operating lease liabilities, current  480   474 
    Total current liabilities  39,611   55,524 
             
    Long-term debt, net of discount  37,340   39,634 
    Operating lease liabilities  1,375   1,557 
    Other long-term liabilities  4,125   4,125 
    Total liabilities  82,451   100,840 
             
    Commitments and contingencies        
             
    Stockholders' equity:        
    Preferred stock, $0.0001 par value; authorized shares — 40,000,000 at June 30, 2021 and December 31, 2020 ; no shares issued and outstanding at June 30, 2021 and December 31, 2020  -   - 
    Common stock, $0.0001 par value; authorized shares — 400,000,000; issued shares — 31,329,613 and 31,262,769 at June 30, 2021 and December 31, 2020, respectively; outstanding shares — 29,186,169 and 28,516,010 at June 30, 2021 and December 31, 2020, respectively  3   3 
    Additional paid-in capital  589,007   579,755 
    Accumulated deficit  (456,882)  (385,487)
    Total stockholders' equity  132,128   194,271 
    Total liabilities and stockholders' equity $214,579  $295,111 

    PHATHOM PHARMACEUTICALS, INC.

    Statements of Operations and Comprehensive Loss

    (Unaudited)

    (in thousands, except share and per share amounts)

      Three Months Ended

    June 30,
      Six Months Ended

    June 30,
     
      2021  2020  2021  2020 
    Operating expenses:                
    Research and development (includes related party amounts of $905, $249, $1846, and $653, respectively) $21,597  $14,859  $42,178  $30,724 
    General and administrative (includes related party amounts of $0, $34, $16, and $77, respectively)  13,722   5,162   26,725   9,672 
    Total operating expenses  35,319   20,021   68,903   40,396 
                     
    Loss from operations  (35,319)  (20,021)  (68,903)  (40,396)
                     
    Other income (expense):                
    Interest income  13   182   27   1,060 
    Interest expense  (1,256)  (1,262)  (2,528)  (2,000)
    Change in fair value of warrant liabilities           95 
    Other income (expense)  10      9   (1)
    Total other income (expense)  (1,233)  (1,080)  (2,492)  (846)
    Net loss and comprehensive loss $(36,552) $(21,101) $(71,395) $(41,242)
    Net loss per share, basic and diluted $(1.00) $(0.64) $(1.96) $(1.26)
    Weighted-average shares of common stock outstanding, basic and diluted  36,636,164   32,997,099   36,468,498   32,733,750 


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  4. FLORHAM PARK, N.J., Aug. 05, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the sad news that its chairman and founder, Dr. Tachi Yamada, passed away suddenly at his Seattle, Washington home on August 4.

    "The entire Phathom community is devastated to learn of Tachi's sudden passing and send our heartfelt condolences and prayers to the entire Yamada family," said Terrie Curran, Phathom's President and Chief Executive Officer. "Dr. Yamada was an extraordinary person and a tremendous leader, mentor, and friend. Beyond his many contributions to Phathom as our founder and…

    FLORHAM PARK, N.J., Aug. 05, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the sad news that its chairman and founder, Dr. Tachi Yamada, passed away suddenly at his Seattle, Washington home on August 4.

    "The entire Phathom community is devastated to learn of Tachi's sudden passing and send our heartfelt condolences and prayers to the entire Yamada family," said Terrie Curran, Phathom's President and Chief Executive Officer. "Dr. Yamada was an extraordinary person and a tremendous leader, mentor, and friend. Beyond his many contributions to Phathom as our founder and chairman, Tachi was a legend in the gastroenterology community whose work was integral to some of the most important advancements in the field. His passing will leave an immeasurable void in the hearts of all who knew him."

    About Phathom Pharmaceuticals, Inc.

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Joe Hand

    1-877-742-8466

    ir@phathompharma.com



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  5. FLORHAM PARK, N.J., Aug. 02, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that Terrie Curran, Phathom's President and Chief Executive Officer, will participate in the "Innovation in GI" panel discussion at the BMO Biopharma Spotlight Series virtual conference on Thursday, August 12, 2021 at 10:50 a.m. ET.  

    Company management will also participate in one-on-one meetings during the virtual conference.

    The on-demand webcast can be accessed under the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations

    FLORHAM PARK, N.J., Aug. 02, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that Terrie Curran, Phathom's President and Chief Executive Officer, will participate in the "Innovation in GI" panel discussion at the BMO Biopharma Spotlight Series virtual conference on Thursday, August 12, 2021 at 10:50 a.m. ET.  

    Company management will also participate in one-on-one meetings during the virtual conference.

    The on-demand webcast can be accessed under the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations. The recording will be available for 30 days following the event.

    About Phathom Pharmaceuticals, Inc.

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Joe Hand

    1-877-742-8466

    ir@phathompharma.com



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  6. Eleusis, a clinical-stage life science company dedicated to unlocking the full therapeutic potential of psychedelics, today announced the appointment of four highly experienced business leaders to its board of directors. The new directors' deep expertise building high-growth, high-impact life science companies complements Eleusis's world-class leadership team. The appointees include:

    • David Socks, former CEO of Phathom Pharmaceuticals, joining as Chair of the board
    • Robert Hershberg, M.D., Ph.D., former CBO and CSO of Celgene
    • John Tucker, CEO of SC Pharmaceuticals
    • Esther van den Boom, Managing Partner at van den Boom & Associates

    "We are delighted to welcome these four exceptional directors, who bring with them decades of experience…

    Eleusis, a clinical-stage life science company dedicated to unlocking the full therapeutic potential of psychedelics, today announced the appointment of four highly experienced business leaders to its board of directors. The new directors' deep expertise building high-growth, high-impact life science companies complements Eleusis's world-class leadership team. The appointees include:

    • David Socks, former CEO of Phathom Pharmaceuticals, joining as Chair of the board
    • Robert Hershberg, M.D., Ph.D., former CBO and CSO of Celgene
    • John Tucker, CEO of SC Pharmaceuticals
    • Esther van den Boom, Managing Partner at van den Boom & Associates

    "We are delighted to welcome these four exceptional directors, who bring with them decades of experience building successful therapeutics-focused life sciences companies," said Shlomi Raz, Eleusis's CEO and founder. "Our management team is thrilled to have these individuals help support and guide the company's effort to discover, develop, and deliver transformational psychedelic drug therapies to patients in urgent need of new treatment alternatives."

    "This is an opportune moment for Eleusis to push forward its vision of transforming psychedelics into modern medicines," said David Socks, Chair of the board. "On behalf of myself and my fellow directors, we are excited to be involved in a science-driven company that is pursuing a disciplined, thoughtful approach to transforming psychedelics into potential treatment options for patients with depression and other neuropsychiatric disorders, where there is significant unmet need."

    ELE-Psilo, the company's lead psychedelic drug candidate, is based on a proprietary, infusible form of psilocybin and is expected to enter clinical trials in early 2022. The company is also in the process of nationally scaling its innovative care delivery platform for psychedelic drug therapy to provide patients with affordable therapeutic alternatives for depression in a safe and caring environment.

    Board Appointments

    David Socks currently serves on the board of directors of Phathom Pharmaceuticals (NASDAQ:PHAT), where he was the founding CEO through the company's IPO. He also serves as a Venture Partner at Frazier Healthcare Partners, where he helps lead the firm's company creation efforts, co-founding companies such as Arcutis (NASDAQ:ARQT), Passage Bio (NASDAQ:PASG) and Scout Bio. Mr. Socks has also served as an advisor to Prometheus Bioscience (NASDAQ:RXDX) and PvP Biologics (acquired by Takeda). Previously, he was co-founder, President and COO of Incline Therapeutics (acquired by the Medicines Company) and co-founder and Senior Vice President, Corporate Development and Strategy of Cadence Pharmaceuticals (NASDAQ:CADX, acquired by Mallinckrodt))). Mr. Socks holds a B.S. from Georgetown University and an M.B.A from Stanford University.

    Robert Hershberg, M.D., Ph.D., is a Venture Partner on the life sciences team at Frazier Healthcare Partners. Dr. Hershberg previously served as President and Chief Executive Officer of VentiRx Pharmaceuticals, a Frazier-founded company that he led through its transformational partnership with Celgene. Mr. Hershberg then joined Celgene, where he was promoted to Chief Scientific Officer and subsequently to Chief Business Officer. Before VentiRx, he served as Senior Vice President and Chief Medical Officer of Dendreon Corporation and as Vice President of Medical Genetics at Corixa, a Frazier portfolio company. Earlier in his career, he was an Assistant Professor at Harvard Medical School and an Associate Physician at Brigham and Women's Hospital in Boston. Dr. Hershberg received his undergraduate and medical degrees from the University of California, Los Angeles, and his Ph.D. from the Salk Institute for Biological Studies.

    John H. Tucker is the Chief Executive Officer of scPharmaceuticals. Mr. Tucker previously served as Chief Executive Officer at Algal Scientific and Alcresta, where he led both companies through successful periods of strategic innovation and development. Throughout his career, he has held senior positions at multiple life sciences companies, including Incline Therapeutics, AMAG Pharmaceuticals, Basilea Pharmaceuticals and Indevus Pharmaceuticals. He also worked in a variety of hospital and retail-based sales and marketing roles at Ortho-McNeil Pharmaceuticals, ALZA Corporation, VIVUS and UCB Pharma. Mr. Tucker holds a B.A. from Plymouth State College and an M.B.A. from New Hampshire College.

    Esther van den Boom is Managing Partner of van den Boom & Associates and Chief Financial Officer of Tyra Biosciences. Ms. van den Boom has personally worked with over 50 life sciences companies throughout her career, partnering on various responsibilities including CFO, SOX 404 implementations, compliance and IPO assistance. Prior to founding van den Boom & Associates, she worked at Ernst & Young LLP as a Senior Manager in their San Diego office's audit practice. Ms. van den Boom received a B.A. in economics from the University of California, San Diego and an M.S. in accountancy from San Diego State University and is a licensed CPA.

    About Eleusis Ltd.

    Founded in 2013, Eleusis is a privately held, clinical-stage life science company dedicated to unlocking the full therapeutic potential of psychedelics, guided by science and enabled by drug discovery, clinical development and care delivery design. The company's comprehensive discovery, development and delivery capabilities enable it to target a broad spectrum of unmet needs within psychiatry, and beyond psychiatry. For more information, visit https://www.eleusisltd.com/.

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  7. FLORHAM PARK, N.J., May 25, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate in a fireside chat at the Jefferies Virtual Healthcare Conference on Tuesday, June 1, 2021 at 10:00 a.m. ET.  

    Company management will also participate in one-on-one meetings during the virtual conference which runs from June 1-4, 2021.

    To access the live webcast and archived recording of the presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations. The…

    FLORHAM PARK, N.J., May 25, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate in a fireside chat at the Jefferies Virtual Healthcare Conference on Tuesday, June 1, 2021 at 10:00 a.m. ET.  

    Company management will also participate in one-on-one meetings during the virtual conference which runs from June 1-4, 2021.

    To access the live webcast and archived recording of the presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations. The recording will be available for 90 days following the event.

    About Phathom Pharmaceuticals, Inc.

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com



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    • Positive Phase 3 trial of vonoprazan in Helicobacter pylori (H. pylori) infection; New Drug Applications (NDAs) targeted for the fourth quarter of 2021
    • U.S. Food and Drug Administration (FDA) grants additional qualified infectious disease product (QIDP) designations to vonoprazan-based regimens with amoxicillin capsules; FDA had previously designated vonoprazan-based regimens with amoxicillin tablets as QIDP
    • Initiated Phase 2 trial evaluating vonoprazan on-demand in non-erosive reflux disease (NERD) – disease with large unmet need impacting an estimated more than 40 million people in the U.S.
    • Pivotal Phase 3 PHALCON-EE trial topline results expected in the fourth quarter of 2021

    FLORHAM PARK, N.J., May 11, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals…

    • Positive Phase 3 trial of vonoprazan in Helicobacter pylori (H. pylori) infection; New Drug Applications (NDAs) targeted for the fourth quarter of 2021
    • U.S. Food and Drug Administration (FDA) grants additional qualified infectious disease product (QIDP) designations to vonoprazan-based regimens with amoxicillin capsules; FDA had previously designated vonoprazan-based regimens with amoxicillin tablets as QIDP
    • Initiated Phase 2 trial evaluating vonoprazan on-demand in non-erosive reflux disease (NERD) – disease with large unmet need impacting an estimated more than 40 million people in the U.S.
    • Pivotal Phase 3 PHALCON-EE trial topline results expected in the fourth quarter of 2021

    FLORHAM PARK, N.J., May 11, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the first quarter of 2021 and provided an update on its recent clinical and organizational progress.

    "With both the impressive results from our pivotal Phase 3 PHALCON-HP trial and the initiation of our NERD development program, Phathom marks a strong start to 2021 having accomplished two of our key strategic imperatives for the year," said Terrie Curran, Phathom's President and Chief Executive Officer. "We are well-positioned to further build on this positive momentum as we anticipate several other significant catalysts in 2021 – including the expected readout from our pivotal Phase 3 trial in erosive esophagitis and the planned NDA submissions for vonoprazan-based regimens in the treatment of H. pylori infection."

    PHALCON-HP Clinical Development and Regulatory Updates:

    • On April 29, 2021, the company announced PHALCON-HP, a pivotal Phase 3 trial of vonoprazan in H. pylori infection, met all primary and secondary endpoints.
    • The PHALCON-HP study met the FDA required primary endpoints of noninferiority for vonoprazan in combination with amoxicillin and clarithromycin ("vonoprazan triple therapy") and vonoprazan in combination with amoxicillin ("vonoprazan dual therapy") compared to lansoprazole in combination with amoxicillin and clarithromycin ("lansoprazole triple therapy") in clarithromycin sensitive patient population.
    • The PHALCON-HP study also demonstrated vonoprazan triple therapy and vonoprazan dual therapy were superior in the eradication of H. pylori compared to lansoprazole triple therapy in all patients and patients with clarithromycin resistant strains of H. pylori.
    • Based on these positive results, Phathom remains on track to submit NDAs for both vonoprazan-based regimens in the fourth quarter of 2021.
    • In May 2021, the FDA granted additional QIDP designations to vonoprazan triple therapy and vonoprazan dual therapy, each containing amoxicillin capsules, for the treatment of H. pylori infection. The FDA had previously granted QIDP designations to vonoprazan-based H. pylori regimens containing amoxicillin tablets.

    Other Clinical and Business Updates:

    • In April 2021, the company commenced its NERD program by initiating PHALCON-NERD on-demand, a Phase 2 trial evaluating various doses of vonoprazan as an on-demand therapy for patients with NERD. The company expects to complete patient enrollment in the fourth quarter of 2021 and share topline results in the first half of 2022. NERD is a major subcategory of gastroesophageal reflux disease (GERD) and is characterized by reflux-related symptoms in the absence of esophageal erosions. There are estimated to be over 40 million people with NERD in the U.S.
    • The PHALCON-EE pivotal Phase 3 trial evaluating vonoprazan for both the healing and maintenance of healing of erosive esophagitis, as well as the relief of heartburn, remains on track with topline results expected in the fourth quarter of 2021.
    • Phathom will have a significant presence at the Digestive Disease Week® (DDW) Virtual Meeting scheduled for May 21-23, 2021. A vonoprazan-focused poster presentation, The Effect of Food on the Pharmacokinetics of the Potassium-competitive Acid Blocker Vonoprazan, has received recognition as a poster of distinction and will be presented in a virtual session. The poster will be presented live by Prof. Colin W. Howden, MD, FRCP, FACP, AGAF, FACG, on May 22, 2021 at 12:15 pm ET. More information about Phathom's DDW abstracts will be made available on www.phathompharma.com following the conference.

    First Quarter 2021 Financial Results:

    • First quarter 2021 net loss was $34.8 million compared to $20.1 million for the first quarter of 2020.
    • First quarter 2021 net loss included a non-cash charge related to stock-based compensation of $3.8 million compared to the first quarter of 2020 non-cash charges related to stock-based compensation of $0.6 million and change in fair value of warrant liabilities of ($0.1) million.
    • First quarter 2021 research and development expenses increased to $20.6 million compared to $15.9 million for the first quarter 2020 as a result of higher chemistry, manufacturing, and controls (CMC) costs, clinical trial costs, and personnel-related expenses. Compared to the fourth quarter of 2020, research and development expenses decreased by $21.0 million following the acceleration of patient enrollment in our Phase 3 trials during late 2020.
    • First quarter 2021 general and administrative expenses increased to $13.0 million compared to $4.5 million for the first quarter of 2020 due to the ongoing buildout of administrative and commercial functions.
    • As of March 31, 2021, cash and cash equivalents were $238.0 million. Cash and cash equivalents are expected to be sufficient to meet anticipated cash requirements into the fourth quarter of 2022.

    About Vonoprazan

    Vonoprazan is an investigational, oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The FDA has designated vonoprazan in combination with both amoxicillin and clarithromycin and with amoxicillin alone as qualified infectious disease products (QIDP) and awarded them Fast Track status for the treatment of H. pylori infection. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 19 Phase 3 trials for vonoprazan and received marketing approval in Japan and numerous other countries in Asia and Latin America.

    About PHALCON-HP

    PHALCON-HP was a randomized, multicenter, Phase 3 trial that enrolled 1046 patients of which 992 patients with a confirmed H. pylori infection were randomized to one of three arms: vonoprazan 20 mg administered twice a day (BID) and amoxicillin 1g administered three times a day (TID) (n=324); vonoprazan 20 mg BID, amoxicillin 1g BID and clarithromycin 500 mg BID (n=338); and lansoprazole 30 mg BID, amoxicillin 1g BID and clarithromycin 500 mg BID (n=330). Each treatment regimen was administered for 14 days. Diagnoses of infection and test of cure were confirmed by 13C-urea breath test. Additional efficacy analyses were conducted using the pre-specified per protocol population (n=822), a subset of the mITT population comprised of patients who were protocol compliant.

    About PHALCON-EE

    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that has completed enrollment of patients with erosive esophagitis (EE) in the U.S. and Europe. The first phase of the trial is evaluating the efficacy and safety of vonoprazan 20 mg administered once-daily (QD) compared to lansoprazole 30 mg QD for the healing of EE for up to eight weeks. The second phase of the trial is evaluating the efficacy and safety of vonoprazan 10 mg QD and 20 mg QD compared to lansoprazole 15 mg QD for the maintenance of healing of EE for 24 weeks. Both phases are also evaluating heartburn symptoms.

    About PHALCON-NERD on-demand

    PHALCON-NERD on-demand is a randomized, double-blind, multicenter Phase 2 study evaluating the efficacy and safety of various doses of vonoprazan compared to placebo for relief of episodic heartburn in subjects with symptomatic non-erosive gastroesophageal reflux disease or NERD. The first phase of the trial is a four-week, open-label run-in period with daily dosing of vonoprazan 20 mg. Following the run-in period, responders will be evenly randomized to one of three doses of vonoprazan (10 mg, 20 mg, and 40 mg) or placebo and treated on-demand for six weeks. The primary endpoint is evaluating the proportion of heartburn episodes with complete and durable relief. Secondary endpoints will also assess different aspects of the speed of onset of symptom relief and durability of relief, as well as number of doses of study drug and use of rescue antacids.

    About Phathom Pharmaceuticals, Inc.

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected availability of topline results from the PHALCON-EE Phase 3 clinical trial; the expected submission of New Drug Applications for the eradication of H. pylori infection; the expected completion of enrollment in the Phase 2 NERD study; and Phathom's belief that vonoprazan could represent an important treatment option for acid-related diseases, if approved. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: potential additional delays in the commencement, enrollment and completion of clinical trials due to the COVID-19 pandemic and other factors outside of Phathom's control; patients already enrolled in PHALCON-EE and the Phase 2 NERD study may not complete the clinical trials or public health conditions and governmental restrictions may lead Phathom to stop such trial all together, which may adversely impact its trial results and development plans; Phathom's dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may be withdrawn or not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; Phathom's ability to obtain and maintain intellectual property protection for vonoprazan; Phathom's ability to comply with its license agreement with Takeda; Phathom's ability to maintain undisrupted business operations due to the ongoing spread of the COVID-19 coronavirus, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain, and other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com



    PHATHOM PHARMACEUTICALS, INC.

    Balance Sheets

    (Unaudited)

    (in thousands, except share and par value amounts)

     March 31,

    2021
     December 31,

    2020
    Assets       
    Current assets:       
    Cash and cash equivalents$237,974  $287,496 
    Prepaid expenses and other current assets (including related party amounts of $0 and $82, respectively) 4,836   3,872 
    Total current assets 242,810   291,368 
    Property, plant and equipment, net 907   986 
    Operating lease right-of-use assets 2,261   2,373 
    Other long-term assets 385   384 
    Total assets$246,363  $295,111 
            
    Liabilities and Stockholders' Equity       
    Current liabilities:       
    Accounts payable (including related party amounts of $335 and $173, respectively)$10,857   16,782 
    Accrued clinical trial expenses 10,868   19,997 
    Accrued expenses (including related party amounts of $1,000 and $734, respectively) 6,566   10,606 
    Accrued interest 312   312 
    Current portion of long-term debt 11,765   7,353 
    Operating lease liabilities, current 477   474 
    Total current liabilities 40,845   55,524 
            
    Long-term debt, net of discount 35,587   39,634 
    Operating lease liabilities 1,467   1,557 
    Other long-term liabilities 4,125   4,125 
    Total liabilities 82,024   100,840 
            
    Commitments and contingencies       
            
    Stockholders' equity:       
    Preferred stock, $0.0001 par value; authorized shares — 40,000,000 at March 31, 2021 and December 31, 2020; no shares issued and outstanding at

    March 31, 2021 and December 31, 2020
         
    Common stock, $0.0001 par value; authorized shares — 400,000,000; issued shares — 31,321,613 and 31,262,769 at March 31, 2021 and December 31, 2020, respectively; outstanding shares — 28,876,510 and 28,516,010 at March 31, 2021 and December 31, 2020, respectively 3   3 
    Additional paid-in capital 584,666   579,755 
    Accumulated deficit (420,330)  (385,487)
    Total stockholders' equity 164,339   194,271 
    Total liabilities and stockholders' equity$246,363  $295,111 



    PHATHOM PHARMACEUTICALS, INC.

    Statements of Operations and Comprehensive Loss

    (Unaudited)

    (in thousands, except share and per share amounts)

     Three Months Ended

    March 31,
     2021 2020
    Operating expenses:       
    Research and development (includes related party amounts of $939 and $404 respectively)$20,580  $15,865 
    General and administrative (includes related party amounts of $16 and $43, respectively) 13,004   4,510 
    Total operating expenses 33,584   20,375 
            
    Loss from operations (33,584)  (20,375)
            
    Other income (expense):       
    Interest income 14   878 
    Interest expense (1,272)  (738)
    Change in fair value of warrant liabilities    95 
    Other income (expense) (1)  (1)
    Total other income (expense) (1,259)  234 
    Net loss and comprehensive loss$(34,843) $(20,141)
    Net loss per share, basic and diluted$(0.96) $(0.62)
    Weighted-average shares of common stock outstanding, basic and diluted 36,298,968   32,470,402 

     



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  8. FLORHAM PARK, N.J., May 06, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate in a fireside chat at the Bank of America Securities 2021 Virtual Healthcare Conference on Thursday, May 13, 2021 at 8:45 a.m. ET.  

    Company management will also participate in one-on-one meetings during the virtual conference.

    To access the live webcast and archived recording of the presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations. The recording…

    FLORHAM PARK, N.J., May 06, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate in a fireside chat at the Bank of America Securities 2021 Virtual Healthcare Conference on Thursday, May 13, 2021 at 8:45 a.m. ET.  

    Company management will also participate in one-on-one meetings during the virtual conference.

    To access the live webcast and archived recording of the presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations. The recording will be available for 90 days following the event.

    About Phathom Pharmaceuticals, Inc.

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com



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    • Both vonoprazan-based treatment regimens demonstrated superior eradication rates vs. a standard of care proton pump inhibitor (PPI)-based triple therapy

    • New Drug Application (NDA) submissions targeted for Q4 2021

    • Phathom to host conference call and live webcast today, April 29, 2021 at 4:30 pm ET

    FLORHAM PARK, N.J., April 29, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that in PHALCON-HP, its pivotal Phase 3 clinical trial for the eradication of H. pylori infection, both vonoprazan-based regimens successfully met their primary endpoints and met all secondary endpoints…

    • Both vonoprazan-based treatment regimens demonstrated superior eradication rates vs. a standard of care proton pump inhibitor (PPI)-based triple therapy



    • New Drug Application (NDA) submissions targeted for Q4 2021



    • Phathom to host conference call and live webcast today, April 29, 2021 at 4:30 pm ET

    FLORHAM PARK, N.J., April 29, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that in PHALCON-HP, its pivotal Phase 3 clinical trial for the eradication of H. pylori infection, both vonoprazan-based regimens successfully met their primary endpoints and met all secondary endpoints. The trial studied vonoprazan in combination with amoxicillin and clarithromycin ("vonoprazan triple therapy") and vonoprazan in combination with amoxicillin ("vonoprazan dual therapy") compared to lansoprazole in combination with amoxicillin and clarithromycin ("lansoprazole triple therapy"). PHALCON-HP is the largest Phase 3 registration trial ever conducted in H. pylori infection, randomizing 992 patients with confirmed H. pylori infection.

    Phase 3 Topline Results

    Primary endpoint analysis

    The primary endpoints in the PHALCON-HP study were non-inferiority of the H. pylori eradication rate for each of vonoprazan triple and dual therapy compared to lansoprazole triple therapy. Based on U.S. Food and Drug Administration (FDA) feedback, the primary endpoint excluded patients with amoxicillin or clarithromycin resistant strains of H. pylori.

    Both vonoprazan-based regimens successfully met their primary endpoints. In the modified intent-to-treat (mITT) population, H. pylori eradication rates were 84.7% with vonoprazan triple therapy and 78.5% for vonoprazan dual therapy compared to 78.8% with lansoprazole triple therapy (p<0.0001 and p=0.0037, respectively, for non-inferiority).

    Additional efficacy analyses were conducted using the pre-specified per protocol population, a subset of the mITT population comprised of patients who were protocol compliant as defined by FDA draft Guidance for Industry1. In the per protocol population, H. pylori eradication rates were 90.4% with vonoprazan triple therapy and 81.2% with vonoprazan dual therapy compared to 82.1% with lansoprazole triple therapy (p<0.0001 and p=0.0077, respectively, for non-inferiority).

    Secondary endpoint analysis

    Vonoprazan triple therapy and vonoprazan dual therapy also met all secondary endpoints, demonstrating superior eradication rates versus lansoprazole triple therapy in all patients and patients with clarithromycin resistant strains of H. pylori. Patients with clarithromycin resistant strains comprised 20.3% of the PHALCON-HP study population.

    Vonoprazan triple therapy

    The H. pylori eradication rate of vonoprazan triple therapy was superior to that of lansoprazole triple therapy among all patients in both the mITT population (80.8% vs. 68.5%; p=0.0001) and the per protocol population (85.7% vs. 70.0%; p<0.0001).

    The H. pylori eradication rate with vonoprazan triple therapy was superior to that of lansoprazole triple therapy in the subset of patients with H. pylori strains resistant to clarithromycin in both the mITT population (65.8% vs. 31.9%; p<0.0001) and the per protocol population (67.2% vs. 29.0%; p<0.0001).

    Vonoprazan dual therapy

    The H. pylori eradication rate of vonoprazan dual therapy was superior to that of lansoprazole triple therapy among all patients in both the mITT population (77.2% vs. 68.5%; p=0.0063) and the per protocol population (81.1% vs. 70.0%; p=0.0013).

    The H. pylori eradication rate of vonoprazan dual therapy was superior to that of lansoprazole triple therapy in the subset of patients with H. pylori strains resistant to clarithromycin in both the mITT population (69.6% vs. 31.9%; p<0.0001) and the per protocol population (79.5% vs. 29.0%; p<0.0001).

    "Acid suppression is a key factor in addressing shortcomings associated with currently available H. pylori treatments, especially in light of increased resistance to antibiotics, including clarithromycin," said Professor William D. Chey, M.D., AGAF, FACG, FACP, Professor of Medicine and Director of the GI Physiology Laboratory at the University of Michigan. "I am very impressed with the results of PHALCON-HP which demonstrate that replacing a PPI with vonoprazan in H. pylori treatment regimens has the potential to meaningfully enhance eradication rates that have been declining over the last two decades. Further, the potential to limit the use of clarithromycin with a dual therapy regimen has the potential to transform clinical practice."

    Safety profile

    Both vonoprazan-based regimens were generally well tolerated with a safety profile comparable to lansoprazole triple therapy. The most common adverse events (>2.0%) reported in the vonoprazan triple therapy, vonoprazan dual therapy, and lansoprazole triple therapy arms, respectively, were diarrhea (4.0%, 5.2%, and 9.6%), dysgeusia (4.3%, 0.6%, and 6.1%), nausea (1.7%, 1.7% and 2.6%), headache (2.6%, 1.4%, 1.4%) and vaginal infections (2.3%, 0.9%, 0.3%). Overall rates of discontinuation due to adverse events were 2.3% for vonoprazan triple therapy-treated patients, 0.9% for vonoprazan dual therapy-treated patients, and 1.4% for lansoprazole triple therapy-treated patients.

    Full results from the PHALCON-HP study will be presented at a future medical meeting and submitted for publication in a peer-reviewed journal.

    "We believe the topline results of our PHALCON-HP study support the potential of vonoprazan-based therapies to change H. pylori treatment," said Terrie Curran, Phathom's President and Chief Executive Officer. "There are estimated to be over 200 million people infected with H. pylori in the United States and Europe, and our market research among patients and physicians show antibiotic resistance, coupled with complexity of treatment, as leading causes of eradication failure. Based on these results, which further build on the robust data previously reported from clinical studies of vonoprazan-based regimens in Japan, we plan to submit NDAs with the FDA for vonoprazan dual and triple therapy in H. pylori before the end of the year. Phathom thanks all the patients, physicians, and clinical sites for their role in the PHALCON-HP trial and for helping in our efforts to advance the treatment landscape for the millions of patients suffering with H. pylori infection."

    Conference call on the PHALCON-HP trial results

    Phathom will host a webcasted conference call today, Thursday, April 29, 2021 at 4:30 pm ET to discuss the PHALCON-HP study results.

    To view the live webcast, visit https://investors.phathompharma.com/news-events/events-and-presentations. Please join approximately 10 minutes prior to the scheduled start time.

    A replay of the webcast and the slide presentation will be available after the meeting on the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations.

    About Helicobacter pylori (H. pylori) infection

    H. pylori is a bacterial pathogen that is estimated to infect over 200 million individuals in the United States and Europe. Approximately 50% of the world and 36% of the US population are infected with the bacterium.2 In many cases, H. pylori is acquired in childhood and through intrafamilial transmission.3 As a result of the chronic inflammation induced by H. pylori infection, infected patients develop a range of pathologies including dyspepsia, peptic ulcer disease, gastric cancer, and mucosa-associated lymphoid tissue (MALT) lymphoma.4 Studies have found that roughly 1 in 5 patients treated for H. pylori will fail first line therapy when using standard clarithromycin triple therapy.2,5  

    About PHALCON-HP

    PHALCON-HP was a randomized, multicenter, Phase 3 trial that enrolled 1046 patients of which 992 patients with a confirmed H. pylori infection were randomized to one of three arms: vonoprazan 20 mg administered twice a day (BID) and amoxicillin 1g administered three times a day (TID) (n=324); vonoprazan 20 mg BID, amoxicillin 1g BID and clarithromycin 500 mg BID (n=338); and lansoprazole 30 mg BID, amoxicillin 1g BID and clarithromycin 500 mg BID (n=330). Each treatment regimen was administered for 14 days. Diagnoses of infection and test of cure were confirmed by 13C-urea breath test. Additional efficacy analyses were conducted using the pre-specified per protocol population (n=822), a subset of the mITT population comprised of patients who were protocol compliant.  

    About Vonoprazan

    Vonoprazan is an investigational, oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The FDA has awarded Fast Track designation to vonoprazan in combination with both amoxicillin and clarithromycin and with amoxicillin alone for the treatment of H. pylori infection. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 19 Phase 3 trials for vonoprazan and received marketing approval in Japan and numerous other countries in Asia and Latin America.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected submission of New Drug Applications for the eradication of H. pylori infection; and the potential for vonoprazan-based therapies to meaningfully enhance H. pylori eradication rates, limit the use of clarithromycin, and address shortcomings associated with currently available treatments. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: 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; we may experience delays submitting the NDAs 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 dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; Phathom's pending qualified infectious disease product (QIDP) requests may not be granted and previously granted QIDP and Fast Track designations may be withdrawn or not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; Phathom's ability to obtain and maintain intellectual property protection for vonoprazan; Phathom's ability to comply with its license agreement with Takeda; Phathom's ability to maintain undisrupted business operations due to the ongoing spread of the COVID-19 coronavirus, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain, and other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    Contacts

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com

    ____________________

    1 https://www.fda.gov/regulatory-information/search-fda-guidance-documents/helicobacter-pylori-associated-duodenal-ulcer-disease-adults-developing-drugs-treatment

    2 Hooi et al. Gastroenterology. 2017;153:420.

    3 Chey et al. Am J Gastroenterol.2017;112:212.

    4 Malfertheiner et al. Gut. 2017;66:6.

    5 Alsamman et al. Dig Dis Sci. 2019;64:2893.



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  9. FLORHAM PARK, N.J., April 06, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate in a fireside chat at the 20th Annual Needham Virtual Healthcare Conference on Tuesday, April 13, 2021 at 10:15 a.m. ET.

    Company management will also participate in one-on-one meetings during the virtual conference which runs from April 12-15, 2021.

    To access the live webcast and archived recording of the presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations

    FLORHAM PARK, N.J., April 06, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate in a fireside chat at the 20th Annual Needham Virtual Healthcare Conference on Tuesday, April 13, 2021 at 10:15 a.m. ET.

    Company management will also participate in one-on-one meetings during the virtual conference which runs from April 12-15, 2021.

    To access the live webcast and archived recording of the presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations. The recording will be available for 90 days following the event.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com



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  10. FLORHAM PARK, N.J., March 30, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the fourth quarter and full year ended December 31, 2020 and provided highlights of pipeline and business progress.

    "During 2020 our teams made significant progress advancing the clinical development of vonoprazan and building the foundation to become a leader in the gastrointestinal space," said Terrie Curran, President and Chief Executive Officer of Phathom. "Our accomplishments position Phathom for a catalyst-rich year in 2021, when we expect to share results from our…

    FLORHAM PARK, N.J., March 30, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the fourth quarter and full year ended December 31, 2020 and provided highlights of pipeline and business progress.

    "During 2020 our teams made significant progress advancing the clinical development of vonoprazan and building the foundation to become a leader in the gastrointestinal space," said Terrie Curran, President and Chief Executive Officer of Phathom. "Our accomplishments position Phathom for a catalyst-rich year in 2021, when we expect to share results from our pivotal Phase 3 trials in H. pylori infection and erosive esophagitis and expand our vonoprazan development program into non-erosive reflux disease (NERD). Building on our momentum from 2020, we are well-positioned financially and operationally to continue our efforts in bringing vonoprazan to the millions of underserved patients with acid-related disorders."

    Fourth Quarter 2020 and Recent Business Highlights:

    • Completed patient enrollment in pivotal Phase 3 trial for vonoprazan in erosive esophagitis (PHALCON-EE).
    • Completed patient enrollment in pivotal Phase 3 trial for vonoprazan in H. pylori infection (PHALCON-HP).
    • Announced the planned expansion of vonoprazan development program into NERD.
    • Completed a successful public offering of common stock with net proceeds of approximately $89 million to fund the clinical development of vonoprazan and for working capital and general corporate purposes, including pre-commercial activities.

    2021 Expected Milestones:

    • Topline results for PHALCON-HP in the second quarter of 2021.
    • Initiation of Phase 2 non-erosive reflux disease (NERD) trial in the second quarter of 2021.
    • NDA submission for H. pylori in the second half of 2021.
    • Topline results for PHALCON-EE in the second half of 2021.
    • Enrollment completion of Phase 2 NERD trial in the second half of 2021.

    Fourth Quarter and Full Year 2020 Financial Results:

    • Fourth quarter net loss for 2020 was $53.7 million, compared to $98.0 million for fourth quarter 2019.
    • Fourth quarter net loss for 2020 was driven by a net loss from operations of $52.4 million, which included a non-cash charge related to stock-based compensation of $2.3 million.
    • Fourth quarter net loss for 2019 was driven by a non-cash charge related to the change in fair value of warrant liabilities of $37.2 million, a non-cash charge related to the change in fair value of convertible promissory notes of $44.6 million, and net loss from operations of $15.7 million, which included a non-cash charge related to stock-based compensation of $0.3 million.
    • Fourth quarter 2020 research and development expenses increased to $41.6 million compared to $12.7 million for fourth quarter 2019 as a result of higher clinical trial costs and personnel-related expenses related to the development of vonoprazan, including the acceleration of patient enrollment in the current quarter.
    • Fourth quarter 2020 general and administrative expenses increased to $10.8 million compared to $3.0 million for fourth quarter 2019 due to the ongoing buildout of administrative and commercial functions.
    • Full year net loss for 2020 was $129.1 million, compared to $255.1 million in 2019.
    • Full year net loss for 2020 was driven by a net loss from operations of $125.7 million, which included a non-cash charge related to stock-based compensation of $5.8 million.
    • Full year net loss for 2019 was driven by a non-cash charge related to the change in fair value of warrant liabilities of $96.3 million, a non-cash charge related to the change in fair value of convertible promissory notes of $49.5 million, and net loss from operations of $106.2 million, which included a non-cash charge related to stock-based compensation of $0.4 million.
    • Full year research and development expenses for 2020 increased to $98.2 million compared to $20.4 million in 2019 as a result of higher clinical trial costs and personnel-related expenses following the in-licensing of vonoprazan in the second quarter of 2019, including the acceleration of patient enrollment in 2020.
    • In-process research and development expenses of $78.9 million in 2019 consisted of the purchase price for the vonoprazan research and development assets we in-licensed in the second quarter of 2019.
    • Full year general and administrative expenses for 2020 increased to $27.5 million from $6.9 million in 2019 due to the ongoing buildout of administrative and commercial functions.



    • As of December 31, 2020, cash and cash equivalents were $287.5 million.

    About Vonoprazan

    Vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 19 Phase 3 trials for vonoprazan and received marketing approval in Japan and numerous other countries in Asia and Latin America.

    About PHALCON-EE

    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that has completed enrollment of patients with erosive esophagitis (EE) in the U.S. and Europe. The first phase of the trial is evaluating the efficacy and safety of vonoprazan 20 mg administered once-daily (QD) compared to lansoprazole 30 mg QD for the healing of EE for up to eight weeks. The second phase of the trial is evaluating the efficacy and safety of vonoprazan 10 mg QD and 20 mg QD compared to lansoprazole 15 mg QD for the maintenance of healing of EE for 24 weeks. Both phases are also evaluating heartburn symptoms.

    About PHALCON-HP

    PHALCON-HP is a randomized, multicenter, Phase 3 trial that has completed enrollment of patients with H. pylori infection in the U.S. and Europe. Participants are randomized 1:1:1 to one of three arms: vonoprazan 20 mg administered twice a day (BID) and amoxicillin 1g administered three times a day (TID); vonoprazan 20 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID; and lansoprazole 30 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID. Each treatment regimen is being administered for 14 days. PHALCON-HP is evaluating the percentage of patients with successful eradication of H. pylori infection.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected availability of topline results from the PHALCON-EE and PHALCON-HP Phase 3 clinical trials; the expected submission of a New Drug Application for the eradication of H. pylori infection; and the expected initiation and completion of enrollment in the Phase 2 NERD study. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: potential additional delays in the commencement, enrollment and completion of clinical trials due to the COVID-19 pandemic and other factors outside of Phathom's control; patients already enrolled in PHALCON-EE and PHALCON-HP may not complete the clinical trials or public health conditions and governmental restrictions may lead Phathom to stop such trials all together, which may adversely impact its trial results and development plans; Phathom's dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may be withdrawn or not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; Phathom's ability to obtain and maintain intellectual property protection for vonoprazan; Phathom's ability to comply with its license agreement with Takeda; Phathom's ability to maintain undisrupted business operations due to the ongoing spread of the COVID-19 coronavirus, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain, and other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com

    PHATHOM PHARMACEUTICALS, INC.

    Statements of Operations and Comprehensive Loss

    (Unaudited)

    (in thousands, except share and per share amounts)

      Three Months Ended

    December 31,
      Year Ended

    December 31,
     
      2020  2019  2020  2019 
    Operating expenses:                
    Research and development (includes related party amounts of $1,136, $1,036, $2,812, and $1,243 respectively) $41,654  $12,704  $98,148  $20,374 
    In-process research and development           78,897 
    General and administrative (includes related party amounts of $18, $138, $157, and $312, respectively)  10,785   2,989   27,517   6,944 
    Total operating expenses  52,439   15,693   125,665   106,215 
                     
    Loss from operations  (52,439)  (15,693)  (125,665)  (106,215)
                     
    Other income (expense):                
    Interest income  16   559   1,091   1,089 
    Interest expense (includes related party amounts of $0, $(93), $0 and $(590), respectively)  (1,296)  (1,039)  (4,581)  (4,177)
    Change in fair value of warrant liabilities (includes related party amounts of $0, $(37,247), $0 and $(96,278), respectively)     (37,212)  95   (96,272)
    Change in fair value of convertible promissory notes (includes related party amounts of $0, $(9,888), $0, and $(10,941), respectively)     (44,618)     (49,546)
    Other income (expense)  (2)  (3)  (8)  (10)
    Total other income (expense)  (1,282)  (82,313)  (3,403)  (148,916)
    Net loss $(53,721) $(98,006) $(129,068) $(255,131)
    Net loss per share, basic and diluted $(1.58) $(3.97) $(3.88) $(22.45)
    Weighted-average shares of common stock outstanding, basic and diluted  34,060,291   24,706,661   33,228,158   11,366,916 

    PHATHOM PHARMACEUTICALS, INC.

    Balance Sheets

    (Unaudited)

    (in thousands, except share and par value amounts)

      December 31,

    2020
      December 31,

    2019
     
    Assets        
    Current assets:        
    Cash and cash equivalents $287,496  $243,765 
    Prepaid expenses and other current assets (including related party amounts of $82 and $0, respectively)  3,872   11,836 
    Total current assets  291,368   255,601 
    Property, plant and equipment, net  986   463 
    Operating lease right-of-use assets  2,373   933 
    Other long-term assets  384   181 
    Total assets $295,111  $257,178 
             
    Liabilities and Stockholders' Equity        
    Current liabilities:        
    Accounts payable (including related party amounts of $173 and $200, respectively) $16,782  $699 
    Accrued clinical trial expenses  19,997    
    Accrued expenses (including related party amounts of $734 and $308, respectively)  10,606   2,319 
    Accrued interest  312   156 
    Current portion of long-term debt  7,353    
    Operating lease liabilities, current  474   161 
    Warrant liabilities     413 
    Total current liabilities  55,524   3,748 
             
    Long-term debt, net of discount  39,634   22,777 
    Operating lease liabilities  1,557   635 
    Other long-term liabilities  4,125   2,063 
    Total liabilities  100,840   29,223 
             
    Commitments and contingencies        
             
    Stockholders' equity:        
    Preferred stock, $0.0001 par value; authorized shares — 40,000,000 at December 31, 2020 and 2019; no shares issued and outstanding at December 31, 2020 and 2019      
    Common stock, $0.0001 par value; authorized shares — 400,000,000 at December 31, 2020 and 2019; issued shares — 31,262,769 and 28,964,506 at December 31, 2020 and 2019, respectively; outstanding shares — 28,516,010 and 24,728,258 at December 31, 2020 and 2019, respectively  3   2 
    Additional paid-in capital  579,755   484,372 
    Accumulated deficit  (385,487)  (256,419)
    Total stockholders' equity  194,271   227,955 
    Total liabilities and stockholders' equity $295,111  $257,178 

     



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    • Topline results expected in second quarter of 2021
    • NDA submission for H. pylori expected in second half of 2021

    FLORHAM PARK, N.J., Jan. 19, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that it has completed patient enrollment in PHALCON-HP, a pivotal Phase 3 clinical trial of vonoprazan in combination with amoxicillin (vonoprazan dual therapy) and vonoprazan in combination with amoxicillin and clarithromycin (vonoprazan triple therapy) for the eradication of H. pylori infection. Phathom continues to expect topline results from the study in the second quarter of 2021…

    • Topline results expected in second quarter of 2021

    • NDA submission for H. pylori expected in second half of 2021

    FLORHAM PARK, N.J., Jan. 19, 2021 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that it has completed patient enrollment in PHALCON-HP, a pivotal Phase 3 clinical trial of vonoprazan in combination with amoxicillin (vonoprazan dual therapy) and vonoprazan in combination with amoxicillin and clarithromycin (vonoprazan triple therapy) for the eradication of H. pylori infection. Phathom continues to expect topline results from the study in the second quarter of 2021.

    PHALCON-HP is a randomized, multicenter, Phase 3 trial that has enrolled over 1,000 patients with H. pylori infection. Participants are evenly randomized to one of three arms: vonoprazan 20 mg administered twice a day (BID) and amoxicillin 1g administered three times a day (TID); vonoprazan 20 mg BID, amoxicillin 1g BID and clarithromycin 500 mg BID; and lansoprazole 30 mg BID, amoxicillin 1g BID and clarithromycin 500 mg BID. Each treatment regimen is administered for 14 days. The primary endpoint is the percentage of patients with successful eradication of H. pylori infection.

    "The completion of patient enrollment in the PHALCON-HP trial marks another significant milestone for Phathom and for the millions of people with H. pylori infection. In the U.S. and Europe, one-in-three adults are believed to carry H. pylori, which, if left untreated, can lead to dyspeptic symptoms, ulcers, and gastric cancer. These regions are experiencing declining H. pylori eradication rates due to increasing antibiotic resistance which we believe can be addressed with more potent inhibition of gastric acid. Our ability to enroll patients in the PHALCON-HP trial during a pandemic highlights the demand for new therapeutic regimens to combat this chronic bacterial infection," said Azmi Nabulsi, M.D., Phathom's Chief Operating Officer. "Phathom greatly appreciates the commitment and execution of our investigators and clinicians involved in PHALCON-HP and thanks all our patient volunteers for their participation."

    PHALCON-HP is one of two Phase 3 trials evaluating vonoprazan in gastrointestinal diseases. The second trial, PHALCON-EE, is a randomized, double-blind, two-phase, multicenter trial evaluating vonoprazan in the treatment of erosive esophagitis (EE). Patient enrollment in PHALCON-EE was completed in November 2020 with topline results expected in the second half of 2021.

    About Vonoprazan

    Vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The U.S. Food and Drug Administration (FDA) has designated as a qualified infectious disease product (QIDP) and awarded Fast Track status to vonoprazan for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 19 Phase 3 trials for vonoprazan and received marketing approval in Japan and numerous other countries in Asia and Latin America.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected availability of topline results from the PHALCON-EE and PHALCON-HP Phase 3 clinical trials; the expected submission of a New Drug Application for the eradication of H. pylori infection, and the potential to receive regulatory and exclusivity benefits as a result of QIDP and Fast Track designations. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: potential additional delays in the commencement, enrollment and completion of clinical trials due to the COVID-19 pandemic and other factors outside of Phathom's control; patients already enrolled in PHALCON-EE and PHALCON-HP may not complete the clinical trials or public health conditions and governmental restrictions may lead Phathom to stop such trials all together, which may adversely impact its trial results and development plans; Phathom's dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; Phathom's ability to obtain and maintain intellectual property protection for vonoprazan; Phathom's ability to comply with its license agreement with Takeda; Phathom's ability to maintain undisrupted business operations due to the ongoing spread of the COVID-19 coronavirus, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain, and other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com



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  11. Frazier Healthcare Partners announced the promotion of several members on its Life Sciences team: Aditya Kohli to Venture Partner, Anna Chen to Vice President, and Max Nowicki to Senior Associate.

    Aditya Kohli, Ph.D., joined the Frazier Life Sciences team in 2016 and focuses on company creation. He co-founded Phathom Pharmaceuticals (NASDAQ:PHAT) and Scout Bio, and helped launch Passage Bio (NASDAQ:PASG). Dr. Kohli serves as the Chief Business Officer of Phathom Pharmaceuticals and as a member of the board of directors for Scout Bio.

    Anna Chen, Ph.D., joined Frazier in 2018 and focuses on evaluating investment opportunities and creating new ventures in the life sciences sector. She is a board observer for Amunix Pharmaceuticals and Inipharm…

    Frazier Healthcare Partners announced the promotion of several members on its Life Sciences team: Aditya Kohli to Venture Partner, Anna Chen to Vice President, and Max Nowicki to Senior Associate.

    Aditya Kohli, Ph.D., joined the Frazier Life Sciences team in 2016 and focuses on company creation. He co-founded Phathom Pharmaceuticals (NASDAQ:PHAT) and Scout Bio, and helped launch Passage Bio (NASDAQ:PASG). Dr. Kohli serves as the Chief Business Officer of Phathom Pharmaceuticals and as a member of the board of directors for Scout Bio.

    Anna Chen, Ph.D., joined Frazier in 2018 and focuses on evaluating investment opportunities and creating new ventures in the life sciences sector. She is a board observer for Amunix Pharmaceuticals and Inipharm.

    Max Nowicki, M.D., joined the Frazier Life Sciences team in 2019 and focuses on identifying new public and private investment opportunities. He has been involved in numerous Frazier investments, including Rocket Pharmaceuticals (NASDAQ:RCKT) and Trillium Therapeutics (NASDAQ:TRIL).

    "We are thrilled to announce the promotions of Aditya, Anna, and Max," said James Topper, Managing Partner at Frazier. "They are extremely valuable members of our team, and are instrumental in helping us create new companies, as well as invest in new public and private companies."

    About Frazier Healthcare Partners

    Founded in 1991, Frazier Healthcare Partners is a leading provider of growth and venture capital to healthcare companies. With nearly $4.8 billion total capital raised, Frazier has invested in over 200 companies, with investment types ranging from company creation and venture capital to buyouts of profitable lower-middle market companies. The firm's Growth Buyout team invests in healthcare and pharmaceutical services, medical products and related sectors. The Life Sciences team invests in therapeutics and related areas that are addressing unmet medical needs through innovation. Frazier has offices in Seattle, WA and Menlo Park, CA, and invests broadly across the US, Canada, and Europe.

    For more information about Frazier Healthcare Partners, visit the company's website at http://www.frazierhealthcare.com.

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  12. FLORHAM PARK, N.J., Dec. 16, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the pricing of its underwritten public offering of 2,250,000 shares of its common stock at a price to the public of $42.00 per share. All of the shares to be sold in the offering are being sold by Phathom. The gross proceeds to Phathom from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be $94.5 million. In addition, Phathom has granted the underwriters a 30-day option to purchase up to an additional 337,500 shares of common…

    FLORHAM PARK, N.J., Dec. 16, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the pricing of its underwritten public offering of 2,250,000 shares of its common stock at a price to the public of $42.00 per share. All of the shares to be sold in the offering are being sold by Phathom. The gross proceeds to Phathom from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be $94.5 million. In addition, Phathom has granted the underwriters a 30-day option to purchase up to an additional 337,500 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about December 21, 2020.

    Phathom intends to use the net proceeds from the proposed offering to fund the clinical development of vonoprazan and for working capital and general corporate purposes, including pre-commercial activities.

    Jefferies, Evercore ISI, Guggenheim Securities and BMO Capital Markets are acting as joint bookrunning managers for the offering. Needham & Company is acting as lead manager for the offering.

    The securities described above are being offered by Phathom pursuant to a shelf registration statement previously filed and declared effective by the Securities and Exchange Commission (SEC). When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@jefferies.com; or from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by telephone at (888) 474-0200 or by email at ecm.prospectus@evercore.com; or from Guggenheim Securities LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-5548 or by email at GSEquityProspectusDelivery@guggenheimpartners.com; or from BMO Capital Markets Corp., 3 Times Square, 25th Floor, New York, NY 10036, Attention: Equity Syndicate Department, by telephone at (800) 414-3627, or by email at bmoprospectus@bmo.com. Electronic copies of the preliminary prospectus supplement and accompanying prospectus were filed with the SEC and are available on the website of the SEC at http://www.sec.gov.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders.

    Forward-Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements relating to Phathom's expectations of market conditions and the satisfaction of customary closing conditions related to the public offering, the expected closing of the offering and the anticipated use of proceeds therefrom. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering, the risks and uncertainties inherent in Phathom's business, including potential delays in the commencement, enrollment and completion of clinical trials; Phathom's dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; and 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; and the other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com



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  13. FLORHAM PARK, N.J., Dec. 15, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that it intends to offer and sell, subject to market and other conditions, 2,250,000 shares of its common stock in an underwritten public offering. In addition, Phathom intends to grant the underwriters a 30-day option to purchase up to an additional 337,500 shares of common stock. All of the shares to be sold in the offering are to be sold by Phathom. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    Phathom…

    FLORHAM PARK, N.J., Dec. 15, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that it intends to offer and sell, subject to market and other conditions, 2,250,000 shares of its common stock in an underwritten public offering. In addition, Phathom intends to grant the underwriters a 30-day option to purchase up to an additional 337,500 shares of common stock. All of the shares to be sold in the offering are to be sold by Phathom. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    Phathom intends to use the net proceeds from the proposed offering to fund the clinical development of vonoprazan and for working capital and general corporate purposes, including pre-commercial activities.

    Jefferies, Evercore ISI, Guggenheim Securities and BMO Capital Markets are acting as joint bookrunning managers for the offering. Needham & Company is acting as lead manager for the offering.

    The securities described above are being offered by Phathom pursuant to a shelf registration statement previously filed and declared effective by the Securities and Exchange Commission (SEC). A preliminary prospectus supplement and accompanying prospectus relating to this offering will be filed with the SEC. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@jefferies.com; or from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, by telephone at (888) 474-0200 or by email at ecm.prospectus@evercore.com; or from Guggenheim Securities LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-5548 or by email at GSEquityProspectusDelivery@guggenheimpartners.com; or from BMO Capital Markets Corp., 3 Times Square, 25th Floor, New York, NY 10036, Attention: Equity Syndicate Department, by telephone at (800) 414-3627, or by email at bmoprospectus@bmo.com. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders.

    Forward-Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements relating to the offering, including the timing and size of the offering and the anticipated use of proceeds therefrom and the grant of the option to purchase additional shares. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the proposed public offering, the risks and uncertainties inherent in Phathom's business, including potential delays in the commencement, enrollment and completion of clinical trials; Phathom's dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; and 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; and the other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com

     



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  14. FLORHAM PARK, N.J., Dec. 14, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced plans to expand its vonoprazan development program into non-erosive reflux disease (NERD). NERD is a major subcategory of gastroesophageal reflux disease (GERD) and is characterized by reflux-related symptoms in the absence of esophageal mucosal erosions. There are over 65 million U.S. patients living with GERD, and it is estimated that approximately two-thirds of this population have NERD.

    The vonoprazan NERD development program is expected to evaluate vonoprazan in clinical trials that have…

    FLORHAM PARK, N.J., Dec. 14, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced plans to expand its vonoprazan development program into non-erosive reflux disease (NERD). NERD is a major subcategory of gastroesophageal reflux disease (GERD) and is characterized by reflux-related symptoms in the absence of esophageal mucosal erosions. There are over 65 million U.S. patients living with GERD, and it is estimated that approximately two-thirds of this population have NERD.

    The vonoprazan NERD development program is expected to evaluate vonoprazan in clinical trials that have the potential to offer patients increased dosing regimen flexibility in the management of their NERD symptoms as compared to many current U.S. treatments. The NERD development program plan is expected to include the evaluation of both vonoprazan continuous and on-demand dosing regimens. As a next step in its NERD development program, Phathom anticipates initiating a Phase 2 clinical trial in mid-2021 to evaluate various doses of vonoprazan as an on-demand therapy for patients with NERD.

    "The planned expansion of our clinical program to evaluate vonoprazan as a potential therapy for NERD further highlights our commitment to addressing the unmet needs of patients suffering from acid-related disorders," said Azmi Nabulsi, MD, Chief Operating Officer of Phathom. "The treatment options currently available to the millions of patients suffering with NERD in the U.S. are known to have limitations such as slow onset and limited efficacy. Based on vonoprazan's pharmacological profile, we believe it has the potential to overcome these limitations and provide NERD patients with powerful symptom relief as well as greater dosing flexibility for managing their disease. We have recently received feedback from FDA regarding our proposed program and are now moving forward with plans to initiate our Phase 2 dose-ranging trial with an on-demand regimen in mid-2021."

    The NERD development program would mark Phathom's third clinical program evaluating vonoprazan. Phathom is also conducting two pivotal Phase 3 trials to support regulatory submissions in other disease areas. Last month, the Company completed patient enrollment in PHALCON-EE, a pivotal trial evaluating vonoprazan for both the healing and maintenance of healing of erosive esophagitis as well as the relief of heartburn. Enrollment is currently ongoing for PHALCON-HP, another pivotal trial evaluating vonoprazan in combination with antibiotics for the eradication of H. pylori infection. Phathom expects to complete enrollment in PHALCON-HP in January 2021 with topline results expected in the second quarter of 2021. PHALCON-EE topline results are expected in the second half of 2021.

    About Non-Erosive Reflux Disease (NERD)

    Non-erosive reflux disease (NERD) is a major subcategory of gastroesophageal reflux disease (GERD). It is characterized by reflux-related symptoms in the absence of esophageal mucosal erosions/breaks at conventional endoscopy. There are estimated to be over 65 million individuals with GERD in the U.S. Symptoms of NERD can include episodic heartburn, especially at night, regurgitation, problems swallowing, and chest pain.

    Management Update During Virtual Investor Day Webcast

    Phathom is hosting a virtual Investor Day today, December 14, 2020 beginning at 1 pm Eastern Time. Members of Phathom's management team and gastroenterology key opinion leaders will provide updates on the company's pipeline and commercial strategy.

    To view the live webcast, visit http://bit.ly/PHAT-investor-day-2020. Please log in approximately 10 minutes prior to the scheduled start time.

    A replay of the webcast and the slide presentation will be available after the meeting on the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations.

    About Vonoprazan

    Vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The U.S. Food and Drug Administration (FDA) has designated as a qualified infectious disease product (QIDP) and awarded Fast Track status to vonoprazan for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 19 Phase 3 trials for vonoprazan and received marketing approval in Japan and numerous other countries in Asia and Latin America.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding when the Company expects to commence its Phase 2 clinical trial of vonoprazan in NERD, when the Company expects to complete enrollment of patients in its PHALCON-HP Phase 3 clinical trial; the expected availability of topline results from the PHALCON-EE and PHALCON-HP Phase 3 clinical trials; and the potential to receive regulatory and exclusivity benefits as a result of QIDP and Fast Track designations. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: Phathom has discretion whether to pursuant the NERD development program and may choose to delay or cancel its planned development program in NERD based on, among other things, further discussions with the FDA; the rate of patient enrollment and drop-outs in PHALCON-EE and PHALCON-HP due to the COVID-19 pandemic is highly uncertain due to factors outside Phathom's control; 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 Phathom to stopping such trials all together, which may adversely impact Phathom's trial results and development plans; Phathom's dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; Phathom's ability to obtain and maintain intellectual property protection for vonoprazan; Phathom's ability to comply with its license agreement with Takeda; our ability to maintain undisrupted business operations due to the ongoing spread of the COVID-19 coronavirus, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain, and other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com



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  15. FLORHAM PARK, N.J., Nov. 30, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that it has completed patient enrollment in PHALCON-EE, the Company's pivotal Phase 3 clinical trial of vonoprazan for both the healing and maintenance of healing of erosive esophagitis (EE) as well as the relief of heartburn. Phathom exceeded the patient enrollment target of 1,000 patients. Phathom continues to expect topline results from the PHALCON-EE trial in the second half of 2021.

    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that has enrolled over 1,000…

    FLORHAM PARK, N.J., Nov. 30, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that it has completed patient enrollment in PHALCON-EE, the Company's pivotal Phase 3 clinical trial of vonoprazan for both the healing and maintenance of healing of erosive esophagitis (EE) as well as the relief of heartburn. Phathom exceeded the patient enrollment target of 1,000 patients. Phathom continues to expect topline results from the PHALCON-EE trial in the second half of 2021.

    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that has enrolled over 1,000 patients with EE in the U.S. and Europe. The first phase of the trial is evaluating the efficacy and safety of vonoprazan 20 mg administered once-daily (QD) compared to lansoprazole 30 mg QD for the healing of EE for up to eight weeks. The second phase of the trial is evaluating the efficacy and safety of vonoprazan 10 mg QD and 20 mg QD compared to lansoprazole 15 mg QD for the maintenance of healing of EE for 24 weeks. Both phases will also evaluate relief of heartburn symptoms.

    "Completing patient enrollment in PHALCON-EE is a significant milestone for Phathom in our mission to bring innovative treatments to the millions of people battling gastrointestinal diseases. Exceeding our enrollment targets and timelines in the midst of a global pandemic underscores the great unmet need existing for new treatment options for patients with erosive esophagitis and further supports our belief that vonoprazan has the potential to transform the EE treatment paradigm," said Azmi Nabulsi, M.D., Phathom's Chief Operating Officer. "We are thankful for the unwavering commitment, support, and enthusiasm of the investigators and clinicians involved in executing this trial and are incredibly grateful to the patients who volunteered to participate in PHALCON-EE. We eagerly look forward to topline results from this trial in the second half of next year."

    PHALCON-EE is one of two Phase 3 trials evaluating vonoprazan in gastrointestinal diseases. The second trial, PHALCON-HP, is a randomized, multicenter trial evaluating vonoprazan in combination with antibiotics for the successful eradication of H. pylori infection. Phathom expects to complete patient enrollment in PHALCON-HP in the first quarter of 2021 with topline results expected in the second quarter of 2021.

    About Vonoprazan

    Vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The U.S. Food and Drug Administration (FDA) has designated as a qualified infectious disease product (QIDP) and awarded Fast Track status to vonoprazan for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 19 Phase 3 trials for vonoprazan and received marketing approval in 13 countries in Asia and Latin America.

    About PHALCON-EE

    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that is planned to enroll approximately 1,000 patients with erosive esophagitis (EE) in the U.S. and Europe. The first phase of the trial is evaluating the efficacy and safety of vonoprazan 20 mg administered once-daily (QD) compared to lansoprazole 30 mg QD for the healing of EE for up to eight weeks. The second phase of the trial is evaluating the efficacy and safety of vonoprazan 10 mg QD and 20 mg QD compared to lansoprazole 15 mg QD for the maintenance of healing of EE for 24 weeks. Both phases are also evaluating heartburn symptoms.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding when the Company expects to achieve targeted enrollment of patients in its PHALCON-HP Phase 3 clinical trial; the expected availability of topline results from the PHALCON-EE and PHALCON-HP Phase 3 clinical trials; and the potential to receive regulatory and exclusivity benefits as a result of QIDP and Fast Track designations. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: the rate of patient enrollment in PHALCON-HP due to the COVID-19 pandemic is highly uncertain due to factors outside Phathom's control; 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 Phathom to stopping such trials all together, which may adversely impact its trial results and development plans; Phathom's dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; Phathom's ability to obtain and maintain intellectual property protection for vonoprazan; Phathom's ability to comply with its license agreement with Takeda; Phathom's ability to maintain undisrupted business operations due to the ongoing spread of the COVID-19 coronavirus, including delaying or otherwise disrupting its clinical trials, manufacturing and supply chain, and other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com



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  16. FLORHAM PARK, N.J., Nov. 27, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate at two upcoming virtual investor conferences in December, including:

    • Evercore ISI 3rd Annual HealthCONx Conference
      Date: December 1, 2020
      Live Presentation Time: 10:55 am ET
    • Piper Sandler 32nd Annual Virtual Healthcare Conference
      Date: December 2, 2020
      Pre-recorded presentation available online

    Executive management will also participate in one-on-one meetings during the duration of the conferences.

    To access the live webcast and archived recordings…

    FLORHAM PARK, N.J., Nov. 27, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate at two upcoming virtual investor conferences in December, including:

    • Evercore ISI 3rd Annual HealthCONx Conference

      Date: December 1, 2020

      Live Presentation Time: 10:55 am ET
    • Piper Sandler 32nd Annual Virtual Healthcare Conference

      Date: December 2, 2020

      Pre-recorded presentation available online

    Executive management will also participate in one-on-one meetings during the duration of the conferences.

    To access the live webcast and archived recordings for each presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations. Recordings will be available for 30 days following each event.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on social media: LinkedIn at www.linkedin.com/company/phathompharma and Twitter @PhathomPharma.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com



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    • Event to be webcast on Monday, December 14, 2020 at 1:00 PM (ET)

    FLORHAM PARK, N.J., Nov. 19, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today confirmed it will host a virtual Investor Day on December 14, 2020 from 1 pm to 3:30 pm Eastern Time. Members of Phathom's management team and gastroenterology key opinion leaders will provide updates on the company's pipeline and commercial strategy.

    Those interested in participating are invited to pre-register at http://bit.ly/PHAT-investor-day-2020. A replay of the webcast and the slide presentation will be available after the meeting…

    • Event to be webcast on Monday, December 14, 2020 at 1:00 PM (ET)

    FLORHAM PARK, N.J., Nov. 19, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today confirmed it will host a virtual Investor Day on December 14, 2020 from 1 pm to 3:30 pm Eastern Time. Members of Phathom's management team and gastroenterology key opinion leaders will provide updates on the company's pipeline and commercial strategy.

    Those interested in participating are invited to pre-register at http://bit.ly/PHAT-investor-day-2020. A replay of the webcast and the slide presentation will be available after the meeting on the News & Events section of the Phathom website at https://investors.phathompharma.com/.  

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on LinkedIn at www.linkedin.com/company/phathompharma.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com



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  17. FLORHAM PARK, N.J., Nov. 13, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate in a fireside chat at the Jefferies Virtual London Healthcare Conference on Wednesday, November 18, 2020 at 3:15 p.m. GMT (10:15 a.m. ET).

    Company management will also participate in one-on-one meetings during the virtual conference which runs from November 17-19, 2020.

    To access the live webcast and archived recordings for each presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations

    FLORHAM PARK, N.J., Nov. 13, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate in a fireside chat at the Jefferies Virtual London Healthcare Conference on Wednesday, November 18, 2020 at 3:15 p.m. GMT (10:15 a.m. ET).

    Company management will also participate in one-on-one meetings during the virtual conference which runs from November 17-19, 2020.

    To access the live webcast and archived recordings for each presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations.  Recordings will be available for 60 days following the event.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders.  Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders.  For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on LinkedIn at www.linkedin.com/company/phathompharma.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com



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    • Pivotal Phase 3 PHALCON-EE trial enrollment expected to complete before year-end 2020; top-line results expected in the second half of 2021
    • Pivotal Phase 3 PHALCON-HP trial enrollment expected to complete in Q1 2021; top-line results expected in Q2 2021

    FLORHAM PARK, N.J., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the third quarter of 2020 and provided an update of its ongoing pivotal Phase 3 trials for vonoprazan.

    "We are very pleased with the progress made in the third quarter, especially the robust activity across our trial sites…

    • Pivotal Phase 3 PHALCON-EE trial enrollment expected to complete before year-end 2020; top-line results expected in the second half of 2021

    • Pivotal Phase 3 PHALCON-HP trial enrollment expected to complete in Q1 2021; top-line results expected in Q2 2021

    FLORHAM PARK, N.J., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the third quarter of 2020 and provided an update of its ongoing pivotal Phase 3 trials for vonoprazan.

    "We are very pleased with the progress made in the third quarter, especially the robust activity across our trial sites. We expect to complete patient enrollment in both of our Phase 3 trials in the coming months despite the ongoing COVID-19 pandemic," said Terrie Curran, President and Chief Executive Officer of Phathom Pharmaceuticals. "We continue to build an impressive commercial and medical organization to lay the foundation for the potential launch of vonoprazan. With topline data for both the PHALCON-EE and PHALCON-HP pivotal Phase 3 studies expected in 2021, our teams are executing on our key strategic imperatives to advance the treatment of acid-related disorders."

    PHALCON-EE and PHALCON-HP Clinical Trial Updates:

    • During the third quarter of 2020, patient enrollment across Phathom's U.S. and European clinical trial sites accelerated. Based on the current enrollment rates, the Company believes full enrollment in the PHALCON-EE Phase 3 trial will be achieved before year-end. Additionally, based on current enrollment rates, Phathom expects to achieve full enrollment in the PHALCON-HP Phase 3 trial in the first quarter of 2021.

    • Phathom believes top-line results from PHALCON-HP, studying vonoprazan in H. pylori, will be available in the second quarter of 2021. Top-line results from PHALCON-EE, studying patients with erosive esophagitis, are expected in the second half of 2021.

    Third Quarter 2020 Financial Results:

    • Third quarter 2020 net loss was $34.1 million compared to $68.1 million for third quarter 2019.
    • Third quarter 2020 net loss included a non-cash charge related to stock-based compensation of $2.1 million compared to the third quarter 2019 non-cash charges of $60.3 million. Third quarter 2019 non-cash charges were related to the change in fair value of warrant liabilities of $57.8 million and change in fair value of convertible promissory notes of $2.5 million.
    • Third quarter 2020 research and development expenses increased to $25.8 million compared to $4.5 million for third quarter 2019 as a result of higher clinical trial costs and personnel-related expenses following the in-licensing of vonoprazan in the second quarter of 2019 as well as the acceleration in patient enrollment in the current quarter.
    • Third quarter 2020 general and administrative expenses increased to $7.1 million compared to $1.8 million for third quarter 2019 due to the ongoing buildout of administrative and commercial functions.
    • As of September 30, 2020, cash and cash equivalents were $226.4 million.

    Recent Business Updates:

     During the past month Phathom continued to add experienced biopharmaceutical leaders to its commercial and medical functions. Mark Devlin joined as Vice President, Head of Market Access; Joe Jones joined as Vice President, Head of Sales; and Dr. Philippe Brudi joined as Vice President, Head of Medical Affairs. Messrs. Devlin and Jones and Dr. Brudi each bring more than 20 years of industry experience with them to Phathom.
       ºMr. Devlin most recently served as Senior Vice President of Market Access at Allergan, where he led pricing and market access strategies for Allergan's $12 billion dollar U.S. pharmaceutical portfolio, including its gastrointestinal franchise.
       ºMr. Jones joined Phathom from Ironwood Pharmaceuticals where he was most recently U.S. Commercial Brand Lead with responsibility for the marketing and market access efforts for LINZESS®. Mr. Jones joined Ironwood prior to the launch of LINZESS® and helped build the sales organization and developed strategies for multiple launches as both Regional Sales Manager and Area Vice President of Sales. 
       ºDr. Brudi has held positions of increasing responsibility in Clinical Development and Medical Affairs at ICI/Zeneca Pharma, Bristol-Myers Squibb, Novartis, Merck and, most recently, Liquidia Technologies, where he served as Head of Medical Affairs. Dr. Brudi led the build out of Liquidia's medical affairs organization in preparation for its first product launch. 

    Planned Virtual Phathom Investor Day:

    Phathom will host a virtual Investor Day on December 14, 2020 from 1 pm to 3:30 pm Eastern Time. Members of Phathom's management team and gastroenterology key opinion leaders will provide updates on the company's pipeline and commercial strategy.

    A subsequent press release with detailed event information will be shared in the coming weeks and will also be posted on the News & Events section of the Phathom website at www.investors.phathompharma.com. A replay of the webcast will also be available and archived on the site.

    About Vonoprazan

    Vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The U.S. Food and Drug Administration (FDA) has designated as a qualified infectious disease product (QIDP) and awarded Fast Track status to vonoprazan for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 19 Phase 3 trials for vonoprazan and received marketing approval in 13 countries in Asia and Latin America.

    About PHALCON-EE

    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that is planned to enroll approximately 1,000 patients with erosive esophagitis (EE) in the U.S. and Europe. The first phase of the trial is evaluating the efficacy and safety of vonoprazan 20 mg administered once-daily (QD) compared to lansoprazole 30 mg QD for the healing of EE for up to eight weeks. The second phase of the trial is evaluating the efficacy and safety of vonoprazan 10 mg QD and 20 mg QD compared to lansoprazole 15 mg QD for the maintenance of healing of EE for 24 weeks. Both phases are also evaluating heartburn symptoms.

    About PHALCON-HP

    PHALCON-HP is a randomized, multicenter, Phase 3 trial that is planned to enroll approximately 975 patients with H. pylori infection in the U.S. and Europe. Participants are being randomized 1:1:1 to one of three arms: vonoprazan 20 mg administered twice a day (BID) and amoxicillin 1g administered three times a day (TID); vonoprazan 20 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID; and lansoprazole 30 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID. Each treatment regimen is being administered for 14 days. PHALCON-HP is evaluating the percentage of patients with successful eradication of H. pylori infection.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on LinkedIn at www.linkedin.com/company/phathompharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding when the company expects to complete enrollment of patients in its PHALCON-EE and PHALCON-HP Phase 3 clinical trials; the expected availability of topline results from the PHALCON-EE and PHALCON-HP Phase 3 clinical trials; the company's expected cash runway; and the potential to receive regulatory and exclusivity benefits as a result of QIDP and Fast Track designations. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: the rate of patient enrollment in PHALCON-EE and PHALCON-HP due to the COVID-19 pandemic is highly uncertain due to factors outside our control; 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 us to stopping such trials all together, which may adversely impact our trial results and development plans; our dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; our ability to obtain and maintain intellectual property protection for vonoprazan; our ability to comply with our license agreement with Takeda; our 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, and other risks described in the company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com





    PHATHOM PHARMACEUTICALS, INC.

    Statements of Operations and Comprehensive Loss

    (Unaudited)

    (in thousands, except share and per share amounts)

     Three Months Ended

    September 30,
      Nine Months Ended

    September 30,
     
     2020  2019  2020  2019 
    Operating expenses:               
    Research and development (includes related party amounts of $1,023, $207, $1,676, and $207 respectively)$25,770  $4,469  $56,494  $7,670 
    In-process research and development          78,897 
    General and administrative (includes related party amounts of $62, $156, $139, and $174, respectively) 7,060   1,813   16,732   3,955 
    Total operating expenses 32,830   6,282   73,226   90,522 
                    
    Loss from operations (32,830)  (6,282)  (73,226)  (90,522)
                    
    Other income (expense):               
    Interest income 15   429   1,075   530 
    Interest expense (includes related party amounts of $0, $(302), $0 and $(498), respectively) (1,286)  (1,990)  (3,286)  (3,138)
    Change in fair value of warrant liabilities (includes related party amounts of $0, $(57,754), $0 and $(59,031), respectively)    (57,776)  95   (59,060)
    Change in fair value of convertible promissory notes (includes related party amounts of $0, $(732), $0, and $(1,053), respectively)    (2,486)     (4,928)
    Other income (expense) (4)  (7)  (5)  (7)
    Total other income (expense) (1,275)  (61,830)  (2,121)  (66,603)
    Net loss$(34,105) $(68,112) $(75,347) $(157,125)
    Net loss per share, basic and diluted$(1.02) $(9.30) $(2.29) $(22.87)
    Weighted-average shares of common stock outstanding, basic and diluted 33,366,237   7,326,090   32,946,128   6,871,471 





    PHATHOM PHARMACEUTICALS, INC.

    Balance Sheets

    (Unaudited)

    (in thousands, except share and par value amounts)

     September 30,

    2020
      December 31,

    2019
     
    Assets       
    Current assets:       
    Cash and cash equivalents$226,361  $243,765 
    Prepaid expenses and other current assets 800   11,836 
    Total current assets 227,161   255,601 
    Property, plant and equipment, net 862   463 
    Operating lease right-of-use assets 2,485   933 
    Other long-term assets 381   181 
    Total assets$230,889  $257,178 
            
    Liabilities and Stockholders' Equity       
    Current liabilities:       
    Accounts payable (including related party amounts of $331 and $200, respectively)$4,788  $699 
    Accrued expenses (including related party amounts of $415 and $308, respectively) 16,593   2,319 
    Accrued interest 302   156 
    Current portion of long-term debt 5,556    
    Operating lease liabilities, current 431   161 
    Warrant liabilities    413 
    Total current liabilities 27,670   3,748 
            
    Long-term debt, net of discount 41,062   22,777 
    Operating lease liabilities 1,644   635 
    Other long-term liabilities 4,125   2,063 
    Total liabilities 74,501   29,223 
            
    Commitments and contingencies       
            
    Stockholders' equity:       
    Common stock, $0.0001 par value; authorized shares — 400,000,000;

    issued shares — 28,964,506; outstanding shares — 25,916,093 at

    September 30, 2020 and 24,728,258 at December 31, 2019, respectively
     3   2 
    Additional paid-in capital 488,151   484,372 
    Accumulated deficit (331,766)  (256,419)
    Total stockholders' equity 156,388   227,955 
    Total liabilities and stockholders' equity$230,889  $257,178 

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  18. WESTLAKE VILLAGE, Calif., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), a medical dermatology company developing innovative treatments for patients with immune-mediated dermatological diseases and conditions, today announced that Terrie Curran has been appointed to the Arcutis Board of Directors effective Nov. 2, 2020, and that Alexander Asam, Ph.D. has decided to step down from the Board.

    "We are tremendously grateful for Alexander's contributions to Arcutis," commented Patrick Heron, Chairman of the Arcutis Board of Directors. "His thoughtful counsel and leadership were instrumental in our recent progress, particularly our two recent very successful public financings. While we will miss his guidance, we…

    WESTLAKE VILLAGE, Calif., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), a medical dermatology company developing innovative treatments for patients with immune-mediated dermatological diseases and conditions, today announced that Terrie Curran has been appointed to the Arcutis Board of Directors effective Nov. 2, 2020, and that Alexander Asam, Ph.D. has decided to step down from the Board.

    "We are tremendously grateful for Alexander's contributions to Arcutis," commented Patrick Heron, Chairman of the Arcutis Board of Directors. "His thoughtful counsel and leadership were instrumental in our recent progress, particularly our two recent very successful public financings. While we will miss his guidance, we wish him well in his future endeavors."

    "We are absolutely delighted to welcome Terrie to the Arcutis Board," said Frank Watanabe, Arcutis' President and Chief Executive Officer. "She is an exceptionally talented biopharmaceutical executive with over 20 years of industry experience in product commercialization. With her extensive experience launching and successfully commercializing innovative products in the dermatology segment, she is uniquely positioned to help Arcutis in its next stage of development, particularly in light of the upcoming data from our pivotal Phase 3 trials and potential NDA submission next year."

    "I am delighted to join the Arcutis board at this exciting time," said Terrie Curran. "The Company's lead product candidate, topical roflumilast, has the potential to become the standard of care for plaque psoriasis, atopic dermatitis, scalp psoriasis, and seborrheic dermatitis. I look forward to contributing my expertise, specifically with commercialization planning and execution, to help them build a leading dermatology company."

    Ms. Curran is CEO and President at Phathom Pharmaceuticals (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing new treatments for gastrointestinal diseases. Prior to this, she was the former President, Global Inflammation and Immunology (I&I) Franchise and member of the Executive Committee at Celgene. She joined Celgene in 2013 as the U.S. Commercial Head of the I&I Franchise and built the capabilities and recruited the teams that executed the successful launch of OTEZLA® for moderate-to-severe plaque psoriasis. Prior to joining Celgene, she served as Senior Vice President and General Manager, Global Women's Health at Merck & Co. Ms. Curran holds graduate and bachelor's degrees from the University of Technology Sydney.

    About Arcutis - Bioscience, applied to the skin.

    Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) is a medical dermatology company developing innovative treatments for patients with immune-mediated dermatological diseases and conditions. The Company is leveraging recent advances in immunology and inflammation to develop differentiated therapies against biologically validated targets to solve persistent treatment challenges in serious diseases of the skin. Arcutis' robust pipeline includes four novel drug candidates currently in development for a range of inflammatory dermatological conditions. The Company's lead product candidate, topical roflumilast, has the potential to become the standard of care for plaque psoriasis, atopic dermatitis, scalp psoriasis, and seborrheic dermatitis. For more information, visit www.arcutis.com or follow the company on LinkedIn and Twitter.

    Forward Looking Statements

    This press release contains "forward-looking" statements, including, among others, statements regarding data from the pivotal Phase 3 trials; the potential NDA submission next year; the potential for topical roflumilast to become the standard of care for plaque psoriasis, atopic dermatitis, scalp psoriasis, and seborrheic dermatitis; and the potential for Arcutis to become a leading dermatology company. These statements involve substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements and you should not place undue reliance on our forward-looking statements. Risks and uncertainties that may cause our actual results to differ include risks inherent in the clinical development process and regulatory approval process, the timing of regulatory filings, and our ability to defend our intellectual property. For a further description of the risks and uncertainties applicable to our business, see the "Risk Factors" section of our Form 10-Q filed with U.S. Securities and Exchange Commission (SEC) on August 11, 2020, as well as any subsequent filings with the SEC. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available.

    Investors and Media:

    Heather Rowe Armstrong

    Vice President, Investor Relations & Corporate Communications

    harmstrong@arcutis.com

    805-418-5006, Ext. 740

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  19. FLORHAM PARK, N.J., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate in a fireside chat at the Morgan Stanley 18th Annual Global Healthcare Conference at 3:30 p.m. ET on Tuesday, September 15, 2020.

    Company management will also participate in one-on-one meetings during the virtual conference which runs from September 14-18, 2020.

    To access the live webcast and archived recordings for each presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations

    FLORHAM PARK, N.J., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that members of the management team will participate in a fireside chat at the Morgan Stanley 18th Annual Global Healthcare Conference at 3:30 p.m. ET on Tuesday, September 15, 2020.

    Company management will also participate in one-on-one meetings during the virtual conference which runs from September 14-18, 2020.

    To access the live webcast and archived recordings for each presentation, visit the News & Events section of the Phathom website at https://investors.phathompharma.com/news-events/events-and-presentations.  Recordings will be available for 60 days following the event.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders.  Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders.  For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on LinkedIn at www.linkedin.com/company/phathompharma.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com

    Primary Logo

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  20. FLORHAM PARK, N.J., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the second quarter of 2020.

    "The second quarter was very productive for Phathom as we resumed new patient screening and enrollment in both our PHALCON-EE and PHALCON-HP Phase 3 trials and continued to make substantial progress in building our organization," said Terrie Curran, President and Chief Executive Officer of Phathom.  "Our engagement with clinical sites has been extremely positive, and we're encouraged by the ongoing enrollment in both trials to date.  While continuing…

    FLORHAM PARK, N.J., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the second quarter of 2020.

    "The second quarter was very productive for Phathom as we resumed new patient screening and enrollment in both our PHALCON-EE and PHALCON-HP Phase 3 trials and continued to make substantial progress in building our organization," said Terrie Curran, President and Chief Executive Officer of Phathom.  "Our engagement with clinical sites has been extremely positive, and we're encouraged by the ongoing enrollment in both trials to date.  While continuing to execute on our current development programs, we have also advanced our medical, commercial, and manufacturing capabilities to prepare for the potential launch of vonoprazan."

    Second Quarter 2020 Financial Results:

    • Second quarter 2020 net loss was $21.1 million compared to $87.8 million for second quarter 2019.
    • Second quarter 2020 net loss included a non-cash charge related to stock-based compensation of $0.8 million compared to the second quarter 2019 non-cash charges of $57.5 million.  Second quarter 2019 non-cash charges were related to the change in fair value of warrant liabilities of $1.3 million, change in fair value of convertible promissory notes of $2.4 million, issuance of 1,084,000 shares of Phathom common stock at a fair value of $5.9 million to Takeda and issuance of the warrant to Takeda at an initial fair value of $47.9 million.
    • Second quarter 2020 research and development expenses increased to $14.9 million compared to $2.8 million for second quarter 2019 as a result of higher clinical trial costs and personnel-related expenses following the in-licensing of vonoprazan in the second quarter of 2019.
    • Second quarter 2020 general and administrative expenses increased to $5.2 million compared to $1.3 million for second quarter 2019 due to the ongoing buildout of administrative and commercial functions.
    • As of June 30, 2020, cash and cash equivalents were $247.3 million.

    Second Quarter 2020 Business Highlights:

    • Phathom resumed screening, enrollment, and randomization of new patients in both PHALCON-EE and PHALCON-HP Phase 3 studies of vonoprazan, which were temporarily paused in March in support of global efforts to combat the spread of COVID-19. 
    • Phathom continues to expect topline data for both the HP and EE trials in 2021.  The Company is proactively monitoring the potential impact of COVID-19 and will update this timeline or modify guidance as necessary.
    • Phathom strengthened its Executive Leadership Team with the appointment of experienced industry finance executive, Todd Branning, as Chief Financial Officer.  David Socks, previously interim CFO, continues with the Company as a Strategic Advisor and remains a member of the Board of Directors.

    About Vonoprazan

    Vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection.  The U.S. Food and Drug Administration (FDA) has designated vonoprazan as a qualified infectious disease product (QIDP) and awarded Fast Track status for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone.  Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 18 Phase 3 trials for vonoprazan and received marketing approval in 13 countries in Asia and Latin America.

    About PHALCON-EE

    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that is planned to enroll approximately 1,000 patients with erosive esophagitis (EE) in the U.S. and Europe.  The first phase of the trial is evaluating the efficacy and safety of vonoprazan 20 mg administered once-daily (QD) compared to lansoprazole 30 mg QD for the healing of EE for up to eight weeks.  The second phase of the trial is evaluating the efficacy and safety of vonoprazan 10 mg QD and 20 mg QD compared to lansoprazole 15 mg QD for the maintenance of healing of EE for 24 weeks. Both phases are also evaluating heartburn symptoms.

    About PHALCON-HP

    PHALCON-HP is a randomized, multicenter, Phase 3 trial that is planned to enroll approximately 975 patients with H. pylori infection in the U.S. and Europe.  Participants are being randomized 1:1:1 to one of three arms: vonoprazan 20 mg administered twice a day (BID) and amoxicillin 1g administered three times a day (TID); vonoprazan 20 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID; and lansoprazole 30 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID.  Each treatment regimen is being administered for 14 days.  PHALCON-HP is evaluating the percentage of patients with successful eradication of H. pylori infection.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders.  Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders.  For more information about Phathom, visit the Company's website at www.phathompharma.com or follow the Company on LinkedIn at www.linkedin.com/company/phathompharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements.  These statements are based on the Company's current beliefs and expectations.  Such forward-looking statements include, but are not limited to, statements regarding the potential to receive regulatory and exclusivity benefits as a result of QIDP and Fast Track designations; and when we expect to provide topline data for the Phase 3 clinical trials of vonoprazan.  The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved.  Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: the rate of patient enrollment in PHALCON-EE and PHALCON-HP which, due to the COVID-19 pandemic, is highly uncertain due to factors outside our control; 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 us to stopping such trials all together, which may adversely impact our trial results and development plans; our dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; our ability to obtain and maintain intellectual property protection for vonoprazan; our ability to comply with our license agreement with Takeda; our ability to maintain undisrupted business operations due to COVID-19, including delaying or otherwise disrupting our clinical trials, manufacturing and supply chain, and other risks described in the Company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC.  You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof.  All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Todd Branning

    1-877-742-8466

    ir@phathompharma.com

    PHATHOM PHARMACEUTICALS, INC.

    Statements of Operations and Comprehensive Loss

    (Unaudited)

    (in thousands, except share and per share amounts)

      Three Months Ended

    June 30,
      Six Months Ended

    June 30,
     
      2020  2019  2020  2019 
    Operating expenses:                
    Research and development (includes related party amounts

    of $249, $0, $653, and $0 respectively)
     $14,859  $2,772  $30,724  $3,201 
    In-process research and development     78,897      78,897 
    General and administrative (includes related party amounts

    of $34, $47, $77, and $18, respectively)
      5,162   1,345   9,672   2,142 
    Total operating expenses  20,021   83,014   40,396   84,240 
                     
    Loss from operations  (20,021)  (83,014)  (40,396)  (84,240)
                     
    Other income (expense):                
    Interest income  182   101   1,060   101 
    Interest expense (includes related party amounts of $0,

    $(71), $0 and $(82), respectively)
      (1,262)  (1,137)  (2,000)  (1,148)
    Change in fair value of warrant liabilities (includes related

    party amounts of $0, $(1,277), $0 and $(1,277),

    respectively)
         (1,284)  95   (1,284)
    Change in fair value of convertible promissory notes

    (includes related party amounts of $0, $(488), $0, and

    $(502), respectively)
         (2,428)     (2,442)
    Other income (expense)        (1)   
    Total other income (expense)  (1,080)  (4,748)  (846)  (4,773)
    Net loss $(21,101) $(87,762) $(41,242) $(89,013)
    Net loss per share, basic and diluted $(0.64) $(13.11) $(1.26) $(13.40)
    Weighted-average shares of common stock outstanding, basic

      and diluted
      32,997,099   6,694,682   32,733,750   6,640,394 

    PHATHOM PHARMACEUTICALS, INC.

    Balance Sheets

    (Unaudited)

    (in thousands, except share and par value amounts)

      June 30,

    2020
      December 31,

    2019
     
    Assets        
    Current assets:        
    Cash and cash equivalents $247,271  $243,765 
    Prepaid expenses and other current assets  1,408   11,836 
    Total current assets  248,679   255,601 
    Property, plant and equipment, net  748   463 
    Operating lease right-of-use assets  2,614   933 
    Other long-term assets  381   181 
    Total assets $252,422  $257,178 
             
    Liabilities and Stockholders' Equity        
    Current liabilities:        
    Accounts payable (including related party amounts of $142 and $200, respectively) $4,894  $699 
    Accrued expenses (including related party amounts of $185 and $308, respectively)  6,257   2,319 
    Accrued interest  302   156 
    Current portion of long-term debt  1,389    
    Operating lease liabilities, current  416   161 
    Warrant liabilities     413 
    Total current liabilities  13,258   3,748 
             
    Long-term debt, net of discount  44,870   22,777 
    Operating lease liabilities  1,746   635 
    Other long-term liabilities  4,125   2,063 
    Total liabilities  63,999   29,223 
             
    Commitments and contingencies        
             
    Stockholders' equity:        
    Common stock, $0.0001 par value; authorized shares  — 400,000,000;

    issued shares  — 28,964,506; outstanding shares — 25,614,412 at June

    30, 2020 and 24,728,258 at December 31, 2019, respectively
      3   2 
    Additional paid-in capital  486,081   484,372 
    Accumulated deficit  (297,661)  (256,419)
    Total stockholders' equity  188,423   227,955 
    Total liabilities and stockholders' equity $252,422  $257,178 

     

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  21. FLORHAM PARK, N.J., July 13, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that it has appointed Todd Branning as Chief Financial Officer.  Interim CFO, David Socks, will continue with the company as a strategic advisor and remain a member of the Board of Directors.

    Mr. Branning was most recently with Amneal Pharmaceuticals, Inc. (NYSE:AMRX) where he served as Senior Vice President and Chief Financial Officer.  He brings a diverse global finance background consisting of over 25 years of experience in corporate finance and accounting, tax, financial planning and analysis…

    FLORHAM PARK, N.J., July 13, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that it has appointed Todd Branning as Chief Financial Officer.  Interim CFO, David Socks, will continue with the company as a strategic advisor and remain a member of the Board of Directors.

    Mr. Branning was most recently with Amneal Pharmaceuticals, Inc. (NYSE:AMRX) where he served as Senior Vice President and Chief Financial Officer.  He brings a diverse global finance background consisting of over 25 years of experience in corporate finance and accounting, tax, financial planning and analysis, and investor relations.

    "I am delighted to welcome Todd to Phathom and to have him join our executive leadership team.  As we continue to grow our organization and prepare for the potential commercialization of vonoprazan, Todd's expertise in finance and accounting will add great value to our company," said Terrie Curran, President and Chief Executive Officer of Phathom.  "I would also like to thank David for his many contributions to Phathom and am excited that we will continue to benefit from his expertise in business development and his involvement in other key strategic areas."

    Mr. Branning has extensive finance experience in the pharmaceutical industry.  As SVP, CFO at Amneal Pharmaceuticals, he helped to build, leverage, and optimize infrastructure following the completion of a transformational merger in May 2018.  Prior to Amneal Pharmaceuticals, he served as Senior Vice President, Chief Financial Officer for Teva Pharmaceuticals' (NYSE:TEVA) Global Generic Medicines division.  Mr. Branning led the finance function and served on the leadership team responsible for managing the day-to-day operations of Teva's largest multi-billion dollar commercial unit.  Prior to joining Teva in 2016, he served as Vice President, Finance, for Allergan plc.  Mr. Branning has also served in financial leadership roles at PricewaterhouseCoopers, PPG Industries, Inc. and Merck & Co., Inc.

    Mr. Branning holds an MBA degree from Carnegie Mellon University and a BBA from the University of Miami.  He is a Certified Public Accountant and has completed a CFO certification program from The Wharton School at the University of Pennsylvania.  

    About Vonoprazan

    Vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The U.S. Food and Drug Administration (FDA) has designated vonoprazan as a qualified infectious disease product (QIDP) and awarded Fast Track status for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 18 Phase 3 trials for vonoprazan and received marketing approval in 13 countries in Asia and Latin America.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com or follow the Company on LinkedIn at www.linkedin.com/company/phathompharma.

    CONTACTS

    Joe Hand

    1-877-742-8466

    info@phathompharma.com

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Patti Bank

    Westwicke Partners

    415-513-1284

    patti.bank@westwicke.com

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  22. FLORHAM PARK, N.J., June 15, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that it has randomized the first new patients in each of its two Phase 3 clinical trials since temporarily pausing new patient randomization in response to the COVID-19 pandemic.   

    "We are pleased to have resumed enrollment and randomization of new patients in our PHALCON-EE and PHALCON-HP Phase 3 studies of vonoprazan that we temporarily paused in March due to the COVID-19 pandemic," said Azmi Nabulsi, MD, Chief Operating Officer of Phathom. "Utilizing relevant practice guidelines, our teams…

    FLORHAM PARK, N.J., June 15, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that it has randomized the first new patients in each of its two Phase 3 clinical trials since temporarily pausing new patient randomization in response to the COVID-19 pandemic.   

    "We are pleased to have resumed enrollment and randomization of new patients in our PHALCON-EE and PHALCON-HP Phase 3 studies of vonoprazan that we temporarily paused in March due to the COVID-19 pandemic," said Azmi Nabulsi, MD, Chief Operating Officer of Phathom. "Utilizing relevant practice guidelines, our teams have been working closely with our investigators to determine the timing of individual trial sites to safely resume screening and randomization of new patients in our PHALCON studies. We are encouraged by the eagerness and readiness of these sites to enroll new patients into our programs and are excited to continue to advance the clinical development of vonoprazan."

    In March, Phathom temporarily paused new patient randomization in its PHALCON-EE and PHALCON-HP clinical trials. The decision was not based on any study-related COVID-19 infections or other safety events but rather was in support of global efforts to combat the spread of the SARS-CoV-2 coronavirus.  During the temporary pause, Phathom worked closely with sites to ensure patients who were already enrolled and randomized in the PHALCON-EE and PHALCON-HP studies could remain safely in the trial with as little disruption as possible. Phathom has not experienced any interruptions to clinical trial supply, including manufacturing and the overall supply chain. 

    Phathom continues to closely monitor the COVID-19 situation and, at this time, continues to expect to provide top-line data from the PHALCON-EE and PHALCON-HP trials in 2021.

    About Vonoprazan

    Vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The U.S. Food and Drug Administration (FDA) has designated vonoprazan as a qualified infectious disease product (QIDP) and awarded Fast Track status for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 18 Phase 3 trials for vonoprazan and received marketing approval in 13 countries in Asia and Latin America.

    About PHALCON-EE

    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that is planned to enroll approximately 1,000 patients with erosive esophagitis (EE) in the U.S. and Europe. The first phase of the trial is evaluating the efficacy and safety of vonoprazan 20 mg administered once-daily (QD) compared to lansoprazole 30 mg QD for the healing of EE for up to eight weeks. The second phase of the trial is evaluating the efficacy and safety of vonoprazan 10 mg QD and 20 mg QD compared to lansoprazole 15 mg QD for the maintenance of healing of EE for 24 weeks. Both phases are also evaluating heartburn symptoms.

    About PHALCON-HP

    PHALCON-HP is a randomized, multicenter, Phase 3 trial that is planned to enroll approximately 975 patients with H. pylori infection in the U.S. and Europe. Participants are being randomized 1:1:1 to one of three arms: vonoprazan 20 mg administered twice a day (BID) and amoxicillin 1g administered three times a day (TID); vonoprazan 20 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID; and lansoprazole 30 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID. Each treatment regimen is being administered for 14 days. PHALCON-HP is evaluating the percentage of patients with successful eradication of H. pylori infection.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com or follow the Company on LinkedIn at www.linkedin.com/company/phathompharma.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected availability of vonoprazan to be delivered to clinical trial sites; the potential to receive regulatory and exclusivity benefits as a result of QIDP and Fast Track designations; and when we expect to provide topline data for the Phase 3 clinical trials of vonoprazan. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: the rate of patient enrollment in PHALCON-EE and PHALCON-HP which, due to the COVID-19 pandemic, is highly uncertain due to factors outside our control; 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 us to stopping such trials all together, which may adversely impact our trial results and development plans; our dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; our ability to obtain and maintain intellectual property protection for vonoprazan; our ability to comply with our license agreement with Takeda; our ability to maintain undisrupted business operations due to the recent spread of the COVID-19 coronavirus, including delaying or otherwise disrupting our clinical trials, manufacturing and supply chain, and other risks described in the company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Joe Hand

    1-877-742-8466

    info@phathompharma.com

    Media Contact:

    Nick Benedetto

    1-877-742-8466

    media@phathompharma.com

    Investor Contact:

    Patti Bank

    Westwicke Partners

    415-513-1284

    patti.bank@westwicke.com

    Primary Logo

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  23. FLORHAM PARK, N.J., May 28, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that Terrie Curran, President and Chief Executive Officer and Azmi Nabulsi, M.D., Chief Operating Officer, will present at three upcoming virtual investor conferences in June, including:

    • Jefferies Virtual Healthcare Conference
      Date: June 3, 2020
      Time: 3:30 pm EDT

    • Goldman Sachs 41st Annual Global Healthcare Conference 
      Date: June 11, 2020
      Time: 2:10 pm EDT
    • BMO Prescriptions for Success Healthcare Conference
      Date: June 23, 2020
      Time: 4:00 pm EDT

    Executive management will also participate in one-on-one…

    FLORHAM PARK, N.J., May 28, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that Terrie Curran, President and Chief Executive Officer and Azmi Nabulsi, M.D., Chief Operating Officer, will present at three upcoming virtual investor conferences in June, including:

    • Jefferies Virtual Healthcare Conference
      Date: June 3, 2020
      Time: 3:30 pm EDT

    • Goldman Sachs 41st Annual Global Healthcare Conference 
      Date: June 11, 2020
      Time: 2:10 pm EDT
    • BMO Prescriptions for Success Healthcare Conference
      Date: June 23, 2020
      Time: 4:00 pm EDT

    Executive management will also participate in one-on-one meetings during the conferences.

    To access the live webcast and archived recordings for each presentation, visit the News & Events section of the Phathom website at www.investors.phathompharma.com.  Recordings will be available for 30 days following each event.

    About Phathom
    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com or follow the Company on LinkedIn at www.linkedin.com/company/phathompharma.

    CONTACTS

    Media Contacts:
    Joe Hand
    1-877-742-8466
    info@phathompharma.com

    Nick Benedetto
    1-877-742-8466
    media@phathompharma.com

    Investor Contact:
    Patti Bank
    Westwicke Partners
    415-513-1284
    patti.bank@westwicke.com

    Primary Logo

    View Full Article Hide Full Article
  24. FLORHAM PARK, N.J., May 12, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the first quarter of 2020.   

    "As previously announced, we temporarily paused new patient randomization in our PHALCON-HP and PHALCON-EE Phase 3 studies of vonoprazan due to the COVID-19 pandemic during the first quarter of 2020," said Terrie Curran, President and Chief Executive Officer of Phathom Pharmaceuticals. "Prior to the pause, we were pleased with trial enrollment and subsequently have been working with our clinical trial sites on a plan to restart randomization…

    FLORHAM PARK, N.J., May 12, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the first quarter of 2020.   

    "As previously announced, we temporarily paused new patient randomization in our PHALCON-HP and PHALCON-EE Phase 3 studies of vonoprazan due to the COVID-19 pandemic during the first quarter of 2020," said Terrie Curran, President and Chief Executive Officer of Phathom Pharmaceuticals. "Prior to the pause, we were pleased with trial enrollment and subsequently have been working with our clinical trial sites on a plan to restart randomization when safe to do so. We are encouraged by the guidelines recently released by the American Society of Gastrointestinal Endoscopy (ASGE) with respect to resuming endoscopies, and are closely monitoring the evolving public health environment, including national and state guidance for easing previously imposed restrictions. Everyone at Phathom thanks all of the healthcare workers, essential personnel, scientists, and others who continue to work tirelessly to combat COVID-19 and serve our communities."

    First Quarter 2020 Financial Results:

    • First quarter 2020 net loss was $20.1 million compared to $1.3 million for first quarter 2019.
    • First quarter 2020 net loss included non-cash charges related to stock-based compensation of $0.6 million and change in fair value of warrant liabilities of ($0.1) million.
    • First quarter 2020 research and development expenses increased to $15.9 million compared to $0.4 million for first quarter 2019 as a result of the in-licensing of vonoprazan in the second quarter of 2019.  
    • First quarter 2020 general and administrative expenses increased to $4.5 million compared to $0.8 million for first quarter 2019 due to the ongoing buildout of administrative and commercial functions.
    • As of March 31, 2020, cash and cash equivalents were $256.7 million.

    PHALCON-EE and PHALCON-HP Clinical Trial Status:
    During the first quarter of 2020, Phathom temporarily paused new patient randomization in its PHALCON-EE and PHALCON-HP clinical trials. The decision was not based on any study-related COVID-19 infections or other safety events but rather in support of global efforts to combat the SARS-CoV-2 coronavirus. Phathom has been actively working with clinical trial sites to ensure uninterrupted clinical trial supply, support the continuation of patients who were already enrolled in the PHALCON-EE and PHALCON-HP trials prior to the randomization pause, and develop plans to resume new patient randomization. Phathom is monitoring the continuing evolution of the COVID-19 pandemic, and any decision to allow randomization of new patients at a site will be contingent on a number of factors including restrictions imposed by national, state, and local governments as well as ASGE guidelines and other prevailing professional guidelines. 

    About Vonoprazan
    Vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The U.S. Food and Drug Administration (FDA) has designated vonoprazan as a qualified infectious disease product (QIDP) and awarded Fast Track status for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 18 Phase 3 trials for vonoprazan and received marketing approval in 13 countries in Asia and Latin America.

    About PHALCON-EE
    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that is planned to enroll approximately 1,000 patients with erosive esophagitis (EE) in the U.S. and Europe. The first phase of the trial is evaluating the efficacy and safety of vonoprazan 20 mg administered once-daily (QD) compared to lansoprazole 30 mg QD for the healing of EE for up to eight weeks. The second phase of the trial is evaluating the efficacy and safety of vonoprazan 10 mg QD and 20 mg QD compared to lansoprazole 15 mg QD for the maintenance of healing of EE for 24 weeks. Both phases are also evaluating heartburn symptoms.

    About PHALCON-HP
    PHALCON-HP is a randomized, multicenter, Phase 3 trial that is planned to enroll approximately 975 patients with H. pylori infection. Participants are being randomized 1:1:1 to one of three arms: vonoprazan 20 mg administered twice a day (BID) and amoxicillin 1g administered three times a day (TID); vonoprazan 20 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID; and lansoprazole 30 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID. Each treatment regimen is being administered for 14 days. PHALCON-HP is evaluating the percentage of patients with successful eradication of H. pylori infection.

    About Phathom
    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com or follow us on LinkedIn at www.linkedin.com/company/phathompharma.

    Forward Looking Statements
    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding when we expect to restart enrolling new patients in the Phase 3 clinical trials of vonoprazan; the expected availability of vonoprazan to be delivered to clinical trial sites; and the potential to receive regulatory and exclusivity benefits as a result of QIDP and Fast Track designations. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: the timing of restarting enrollment of new patients, and the rate of patient enrollment in PHALCON-EE and PHALCON-HP due to the COVID-19 pandemic is highly uncertain due to factors outside our control; 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 us to stopping such trials all together, which may adversely impact our trial results and development plans; our dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; our ability to obtain and maintain intellectual property protection for vonoprazan; our ability to comply with our license agreement with Takeda; our ability to maintain undisrupted business operations due to the recent spread of the COVID-19 coronavirus, including delaying or otherwise disrupting our clinical trials, manufacturing and supply chain, and other risks described in the company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Joe Hand
    1-877-742-8466
    info@phathompharma.com

    Media Contact:
    Nick Benedetto
    1-877-742-8466
    media@phathompharma.com

    Investor Contact:
    Patti Bank
    Westwicke Partners
    415-513-1284
    patti.bank@westwicke.com


    PHATHOM PHARMACEUTICALS, INC.
    Statements of Operations and Comprehensive Loss
    (Unaudited)
    (in thousands, except share and per share amounts)

        Three Months Ended
    March 31,
     
        2020     2019  
    Operating expenses:                
    Research and development (includes related party amounts of $404
      and $0, respectively)
      $ 15,865     $ 429  
    General and administrative (includes related party amounts of $43
      and $(29), respectively)
        4,510       797  
    Total operating expenses     20,375       1,226  
                     
    Loss from operations     (20,375 )     (1,226 )
                     
    Other income (expense):                
    Interest income     878        
    Interest expense (includes related party amounts of $(0) and $(11),
      respectively)
        (738 )     (11 )
    Change in fair value of warrant liabilities     95        
    Change in fair value of convertible promissory notes (includes related
      party amounts of ($0) and ($14), respectively)
              (14 )
    Other income (expense)     (1 )      
    Total other income (expense)     234       (25 )
    Net loss   $ (20,141 )   $ (1,251 )
    Net loss per share, basic and diluted   $ (0.62 )   $ (0.19 )
    Weighted-average shares of common stock outstanding, basic and diluted     32,470,402       6,585,503  


    PHATHOM PHARMACEUTICALS, INC.
    Balance Sheets
    (Unaudited)
    (in thousands, except share and par value amounts)

        March 31,
    2020
        December 31,
    2019
     
    Assets                
    Current assets:                
    Cash and cash equivalents   $ 256,672     $ 243,765  
    Prepaid expenses and other current assets     5,155       11,836  
    Total current assets     261,827       255,601  
    Property, plant and equipment, net     768       463  
    Operating lease right-of-use assets     939       933  
    Other long-term assets     381       181  
    Total assets   $ 263,915     $ 257,178  
                     
    Liabilities and Stockholders' Equity                
    Current liabilities:                
    Accounts payable (including related party amounts of $112 and $200, respectively)   $ 1,187     $ 699  
    Accrued expenses (including related party amounts of $177 and $308, respectively)     3,004       2,319  
    Accrued interest     237       156  
    Operating lease liabilities, current     148       161  
    Warrant liabilities           413  
    Total current liabilities     4,576       3,748  
                     
    Long-term debt, net of discount     45,913       22,777  
    Operating lease liabilities     606       635  
    Other long-term liabilities     4,125       2,063  
    Total liabilities     55,220       29,223  
                     
    Commitments and contingencies                
                     
    Stockholders' equity:                
    Common stock, $0.0001 par value; authorized shares — 400,000,000; issued shares  — 28,964,506; outstanding shares — 25,153,553 at March 31, 2020 and 24,728,258 at December 31, 2019, respectively;     2       2  
    Additional paid-in capital     485,253       484,372  
    Accumulated deficit     (276,560 )     (256,419 )
    Total stockholders' equity     208,695       227,955  
    Total liabilities and stockholders' equity   $ 263,915     $ 257,178  
                     

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  25. FLORHAM PARK, N.J., April 09, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that company management will participate in one-on-one meetings at the upcoming 19th Annual Needham Virtual Healthcare Conference from Tuesday, April 14, 2020 through Wednesday, April 15, 2020.

    About Phathom
    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive…

    FLORHAM PARK, N.J., April 09, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that company management will participate in one-on-one meetings at the upcoming 19th Annual Needham Virtual Healthcare Conference from Tuesday, April 14, 2020 through Wednesday, April 15, 2020.

    About Phathom
    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com and follow Phathom on LinkedIn at www.linkedin.com/company/phathompharma.

    CONTACTS

    Joe Hand
    1-877-742-8466
    info@phathompharma.com

    Media Contact:
    Nick Benedetto
    1-877-742-8466
    media@phathompharma.com

    Investor Contact:
    Patti Bank
    Westwicke Partners
    415-513-1284
    patti.bank@westwicke.com

    Primary Logo

    View Full Article Hide Full Article
    • Successfully Finished 2019 with Initiation of Two Pivotal Phase 3 Trials for Vonoprazan in Erosive Esophagitis (PHALCON-EE) and H. pylori Infection (PHALCON-HP) and Completion of $209M Initial Public Offering
    • Temporarily Pausing New Patient Randomization in PHALCON-EE and PHALCON-HP Trials in View of COVID-19 Pandemic
    • Mark Stenhouse, General Manager – Screening Business, Exact Sciences, Appointed to Board of Directors

    FLORHAM PARK, N.J., March 19, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the fourth quarter and full year ended December 31…

    • Successfully Finished 2019 with Initiation of Two Pivotal Phase 3 Trials for Vonoprazan in Erosive Esophagitis (PHALCON-EE) and H. pylori Infection (PHALCON-HP) and Completion of $209M Initial Public Offering
    • Temporarily Pausing New Patient Randomization in PHALCON-EE and PHALCON-HP Trials in View of COVID-19 Pandemic
    • Mark Stenhouse, General Manager – Screening Business, Exact Sciences, Appointed to Board of Directors

    FLORHAM PARK, N.J., March 19, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today reported financial results for the fourth quarter and full year ended December 31, 2019 and provided an update on the status of its Phase 3 PHALCON-EE and PHALCON-HP clinical trials and other business matters. 

    "In 2019, the Phathom team significantly advanced the development of vonoprazan and built a strong foundation to scale the organization for the potential commercial launch of vonoprazan," said Terrie Curran, President and Chief Executive Officer of Phathom. "While we are encouraged by ongoing patient enrollment for both the PHALCON-EE and PHALCON-HP clinical trials, we have made the decision to temporarily pause new patient randomization in recognition of our responsibility to contribute to the efforts to halt the spread of COVID-19. This decision is not based on any study-related events. We are working closely with our clinical trial sites and intend to restart randomization in the trials as soon as possible." 

    Fourth Quarter 2019 and Recent Business Highlights:

    • Initiated PHALCON-EE, a pivotal Phase 3 clinical trial evaluating vonoprazan for both the healing and maintenance of healing of erosive esophagitis (EE) as well as the relief of heartburn. Top-line data from PHALCON-EE are expected in 2021. 
    • Initiated PHALCON-HP, a pivotal Phase 3 clinical trial evaluating vonoprazan in combination with amoxicillin (vonoprazan dual therapy) and vonoprazan in combination with amoxicillin and clarithromycin (vonoprazan triple therapy) for the treatment of Helicobacter pylori (H. pylori) infection. Top-line data from PHALCON-HP are expected in 2021.
    • Received Fast Track designation from the FDA for vonoprazan for the treatment of H. pylori infection.
    • Completed initial public offering of 10,997,630 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase 1,434,473 additional shares, at a public offering price of $19.00 per share. Including the option exercise, the gross proceeds to Phathom, before deducting underwriting discounts and commissions and offering expenses, were $209 million. 
    • In March 2020, we completed the drawdown of the second $25 million tranche under our existing loan and security agreement with Silicon Valley Bank and WestRiver Innovation Lending Fund VIII, L.P and extended the potential interest-only period by up to six months.

    Fourth Quarter and Full-Year 2019 Financial Results:

    • Fourth quarter net loss for 2019 was $98.0 million, compared to $484,000 for fourth quarter 2018.
    • Fourth quarter net loss for 2019 included non-cash charges related to the change in fair value of warrant liabilities of $37.2 million, change in fair value of convertible promissory notes of $44.6 million, and net loss from operations of $15.7 million. 
    • Fourth quarter 2019 research and development expenses were $12.7 million compared to $14,000 for fourth quarter 2018.
    • Fourth quarter 2019 general and administrative expenses increased to $3.0 million compared to $437,000 for fourth quarter 2018.
    • Full year net loss for 2019 was $255.1 million, compared to $1.3 million in 2018. 
    • Full year net loss for 2019 included non-cash charges related to the change in fair value of warrant liabilities of $96.3 million, change in fair value of convertible promissory notes of $49.5 million, the issuance to Takeda of 1,084,000 shares of our common stock at a fair value of $5.9 million and issuance of the warrant to Takeda at an initial fair value of $47.9 million.
    • Full year research and development expenses for 2019 were $20.4 million, and there were minimal research and development expenses in 2018 as we had not yet entered into the Takeda license.
    • Full year general and administrative expenses for 2019 increased to $6.9 million from $1.2 million in 2018.
    • As of December 31, 2019, cash and cash equivalents were $243.8 million. 

    PHALCON-EE and PHALCON-HP Clinical Trial Status Update:

    Due to the COVID-19 global pandemic, the Company is temporarily pausing new patient randomization in its PHALCON-EE and PHALCON-HP clinical trials. The decision to temporarily pause new patient randomization was not based on any study-related COVID-19 infections or other safety events but rather an abundance of caution relating to the global efforts to combat the COVID-19 pandemic. The demands on medical institutions and clinicians during this unprecedented crisis were also an important consideration in this decision. The temporary pause on new patient randomization aligns with the American Society for Gastrointestinal Endoscopy's guidance on limiting endoscopies, which are required in both clinical trials, due to the COVID-19 pandemic and supports various governments' restrictions on travel.

    The Company has not experienced any interruption in its clinical trial supply at this time and is working closely with clinical trial sites in order to allow existing enrolled patients to continue in the PHALCON-EE and PHALCON-HP trials, while providing for their safety and the safety of physicians and other staff at the clinical trial sites. The Company will continue to monitor the situation and, as of this date, expects to remain on track to provide top-line data for both the PHALCON-EE and PHALCON-HP clinical trials in 2021.

    Appointment of Mark Stenhouse to Board of Directors:

    The Company announced the appointment of Mark Stenhouse, General Manager – Screening Business, Exact Sciences to our Board of Directors, effective, March 17, 2020.

    "We are pleased to welcome Mark Stenhouse to our Board of Directors. Mark's extensive commercial leadership and broad knowledge of the gastroenterology market will help guide us as we prepare for the potential commercial launch of vonoprazan," said Tachi Yamada, M.D., Chairman of Phathom Pharmaceuticals. "Phathom will benefit greatly from Mark's decades of biopharma experience and deep understanding of the U.S. healthcare landscape." 

    Mr. Stenhouse has over thirty years of biopharma industry experience and currently serves as General Manager – Screening Business at Exact Sciences where he leads the Cologuard® commercial functions including sales, marketing, market access, commercial operations, and medical affairs. Prior to Exact Sciences, Mr. Stenhouse spent nearly thirty years at Abbott Laboratories/AbbVie, most recently as Vice President, U.S. Immunology. In this role, he led the U.S. sales and marketing teams responsible for HUMIRA®. While at Abbott Laboratories/AbbVie, he held various sales and marketing roles of increasing responsibility, many relating to gastroenterology. Mr. Stenhouse holds a Bachelor of Science in Business Administration from the College of Charleston.

    About Vonoprazan
    Vonoprazan is an oral small molecule potassium-competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown the potential to have rapid, potent, and durable anti-secretory effects as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The U.S. Food and Drug Administration (FDA) has designated vonoprazan as a qualified infectious disease product (QIDP) and awarded Fast Track status for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 18 Phase 3 trials for vonoprazan and received marketing approval in 13 countries in Asia and Latin America.

    About PHALCON-EE
    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that is planned to enroll approximately 1,000 patients with EE in the U.S. and Europe. The first phase of the trial is evaluating the efficacy and safety of vonoprazan 20 mg administered once-daily (QD) compared to lansoprazole 30 mg QD for the healing of EE for up to eight weeks. The second phase of the trial is evaluating the efficacy and safety of vonoprazan 10 mg QD and 20 mg QD compared to lansoprazole 15 mg QD for the maintenance of healing of EE for 24 weeks. Both phases are also evaluating heartburn symptoms.

    About PHALCON-HP
    PHALCON-HP is a randomized, multicenter, Phase 3 trial that is planned to enroll approximately 975 patients with H. pylori infection. Participants are being randomized 1:1:1 to one of three arms: vonoprazan 20 mg administered twice a day (BID) and amoxicillin 1g administered three times a day (TID); vonoprazan 20 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID; and lansoprazole 30 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID. Each treatment regimen is being administered for 14 days. PHALCON-HP is evaluating the percentage of patients with successful eradication of H. pylori infection.

    About Phathom
    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com.

    Forward Looking Statements
    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected timing of completion of enrollment and availability of topline data for the Phase 3 clinical trials of vonoprazan; the potential that patients already enrolled in PHALCON-EE and PHALCON-HP may be able to complete the clinical trial; and the potential to receive regulatory and exclusivity benefits as a result of QIDP and Fast Track designations. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: the length of the pausing of new patient enrollment in PHALCON-EE and PHALCON-HP due to the COVID-19 pandemic is highly uncertain due to factors outside our control; 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 us to stopping such trials all together, which may adversely impact our trial results and development plans; our dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; the success of our clinical trials of vonoprazan, and the results of prior clinical trials and other investigator-initiated clinical trials of vonoprazan are not necessarily predictive of our future results and the FDA and comparable foreign regulatory authorities may not accept the data from such prior trials to support approval; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; our ability to obtain and maintain intellectual property protection for vonoprazan; our ability to comply with our license agreement with Takeda; our ability to maintain undisrupted business operations due to the recent spread of the COVID-19 coronavirus, including delaying or otherwise disrupting our clinical trials, manufacturing and supply chain, and other risks described in the company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Registration Statement on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    CONTACTS

    Joe Hand
    1-877-742-8466
    info@phathompharma.com

    Media Contact:
    Nick Benedetto
    1-877-742-8466
    media@phathompharma.com

    Investor Contact:
    Patti Bank
    Westwicke Partners
    415-513-1284
    patti.bank@westwicke.com

    TABLES FOLLOW


    PHATHOM PHARMACEUTICALS, INC.
    Combined Statements of Operations and Comprehensive Loss
    (in thousands, except share and per share amounts)

        Years Ended
    December 31,
     
        2019     2018  
                 
           
    Operating expenses:                
    Research and development (includes related party amounts of $1,243
      and $0, respectively)
      $ 20,374     $ 20  
    In-process research and development     78,897        
    General and administrative (includes related party amounts of $312
      and $321, respectively)
        6,944       1,205  
    Total operating expenses     106,215       1,225  
                     
    Loss from operations     (106,215 )     (1,225 )
                     
    Other income (expense):                
    Interest income     1,089        
    Interest expense (includes related party amounts of $(590) and $(13),
      respectively)
        (4,177 )     (13 )
    Change in fair value of warrant liabilities (includes related party
      amounts of ($96,278) and ($0), respectively)
        (96,272 )      
    Change in fair value of convertible promissory notes (includes related
      party amounts of ($10,941) and ($50), respectively)
        (49,546 )     (50 )
    Other income (expense)     (10 )      
    Total other income (expense)     (148,916 )     (63 )
    Net loss   $ (255,131 )   $ (1,288 )
    Net loss per share, basic and diluted   $ (22.45 )   $ (0.21 )
    Weighted-average shares of common stock outstanding, basic and diluted     11,366,916       6,051,675  


    PHATHOM PHARMACEUTICALS, INC.
    Combined Balance Sheets
     (in thousands, except share and par value amounts)

        December 31,
    2019
        December 31,
    2018
     
                     
    Assets                
    Current assets:                
    Cash and cash equivalents   $ 243,765     $ 879  
    Prepaid expenses and other current assets (including related party amounts
      of $0 and $19, respectively)
        11,836       23  
    Total current assets     255,601       902  
    Property, plant and equipment, net     463        
    Operating lease right-of-use assets     933        
    Other long-term assets     181        
    Total assets   $ 257,178     $ 902  
                     
    Liabilities and Stockholders' Equity                
    Current liabilities:                
    Accounts payable (including related party amounts of $200 and $45,
      respectively)
      $ 699     $ 55  
    Accrued expenses (including related party amounts of $308 and $2,
      respectively)
        2,319       170  
    Accrued interest (including related party amounts of $0 and $13,
      respectively)
        156       13  
    Convertible promissory notes payable at fair value (including related party
      amounts of $0 and $1,950, respectively)
              1,950  
    Operating lease liabilities, current     161        
    Warrant liabilities     413        
    Total current liabilities     3,748       2,188  
                     
    Long-term debt, net of discount     22,777        
    Operating lease liabilities     635        
    Other long-term liabilities     2,063        
    Total liabilities     29,223       2,188  
                     
    Commitments and contingencies                
                     
    Stockholders' equity (deficit):                
    Common stock, $0.0001 par value; authorized shares
      —400,000,000 at December 31, 2019; issued shares—
      28,964,506 at December 31, 2019; outstanding shares—
      24,728,258 at December 31, 2019;
        2        
    Additional paid-in capital     484,372       2  
    Accumulated deficit     (256,419 )     (1,288 )
    Total stockholders' equity (deficit)     227,955       (1,286 )
    Total liabilities and stockholders' equity   $ 257,178     $ 902  

     

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  26. FLORHAM PARK, N.J., Feb. 25, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that Terrie Curran, President and Chief Executive Officer, and Azmi Nabulsi, M.D., Chief Operating Officer, will present at Cowen and Company's 40th Annual Healthcare Conference in Boston on March 2, 12:00 pm EST at the Boston Marriott Copley Place.

    To access the live webcast and archived recordings for this presentation, visit the Investors & Media section of the Phathom Pharmaceuticals website at www.phathompharma.com.

    About Phathom
    Phathom Pharmaceuticals is a biopharmaceutical company focused…

    FLORHAM PARK, N.J., Feb. 25, 2020 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, today announced that Terrie Curran, President and Chief Executive Officer, and Azmi Nabulsi, M.D., Chief Operating Officer, will present at Cowen and Company's 40th Annual Healthcare Conference in Boston on March 2, 12:00 pm EST at the Boston Marriott Copley Place.

    To access the live webcast and archived recordings for this presentation, visit the Investors & Media section of the Phathom Pharmaceuticals website at www.phathompharma.com.

    About Phathom
    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com.

    Follow Phathom on LinkedIn at www.linkedin.com/company/phathompharma.

    CONTACTS

    Media Contacts:
    Joe Hand
    1-877-742-8466
    info@phathompharma.com

    Nick Benedetto
    1-877-742-8466
    media@phathompharma.com

    Investor Contact:
    Patti Bank
    Westwicke Partners
    415-513-1284
    patti.bank@westwicke.com

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  27. MENLO PARK, Calif., Jan. 16, 2020 /PRNewswire/ -- Frazier Healthcare Partners announced today the closing of Frazier Life Sciences X, L.P., exceeding its target and closing on more than $617 million in capital commitments in an oversubscribed fundraise. Investing in life sciences has been a core strategy since the firm's inception 29 years ago, and Frazier Life Sciences X marks the third dedicated Life Sciences fund, bringing the firm's total committed capital raised since inception to nearly $4.8 billion.

    Led by General Partners Patrick Heron, James Topper and Dan Estes, the Frazier Life Sciences team invests primarily in therapeutics-focused companies developing and commercializing innovative biopharmaceuticals that address important unmet…

    MENLO PARK, Calif., Jan. 16, 2020 /PRNewswire/ -- Frazier Healthcare Partners announced today the closing of Frazier Life Sciences X, L.P., exceeding its target and closing on more than $617 million in capital commitments in an oversubscribed fundraise. Investing in life sciences has been a core strategy since the firm's inception 29 years ago, and Frazier Life Sciences X marks the third dedicated Life Sciences fund, bringing the firm's total committed capital raised since inception to nearly $4.8 billion.

    Led by General Partners Patrick Heron, James Topper and Dan Estes, the Frazier Life Sciences team invests primarily in therapeutics-focused companies developing and commercializing innovative biopharmaceuticals that address important unmet medical needs. Frazier Life Sciences X will continue its three-pronged strategy of investing in company creation, early-stage venture and late private/public opportunities, with two-thirds of its investments expected to be in Seed and Series A rounds.

    "We are extremely grateful to our limited partners for their continued support of our Life Sciences strategy, which includes creating innovative therapeutics through company creation, early-stage venture, and late private and public investing," said Patrick Heron. "We were also happy to welcome a small number of new, high-quality institutional investors to our fund."

    Recent Frazier Life Sciences IPOs and exits include Acerta (acquired by AstraZeneca), Mirum Pharmaceuticals (NASDAQ:MIRM), and Ignyta (acquired by Roche), as well as Frazier-founded companies Mavupharma (acquired by AbbVie), Phathom Pharmaceuticals (IPO: PHAT), and Silvergate Pharmaceuticals (acquired by CutisPharma). The Frazier Life Sciences team has created or seeded 23 companies since 2005.

    About Frazier Healthcare Partners

    Founded in 1991, Frazier Healthcare Partners is a leading provider of growth and venture capital to healthcare companies. With nearly $4.8 billion total capital raised, Frazier has invested in over 200 companies, with investment types ranging from company creation and venture capital to buyouts of profitable lower-middle market companies. The firm's Growth Buyout team invests in healthcare and pharmaceutical services, medical products and related sectors. The Life Sciences team invests in therapeutics and related areas that are addressing unmet medical needs through innovation. Frazier has offices in Seattle, WA, and Menlo Park, CA, and invests broadly across the U.S., Canada and Europe.

    For more information about Frazier Healthcare Partners, visit the company's website at http://www.frazierhealthcare.com.

     

    Cision View original content:http://www.prnewswire.com/news-releases/frazier-healthcare-partners-closes-oversubscribed-617-million-life-sciences-fund-300988095.html

    SOURCE Frazier Healthcare Partners

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  28. Martin Gilligan joins from Celgene Corporation where he led marketing, market access and business development for the Inflammation & Immunology Franchise

    Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced the appointment of Martin J. Gilligan as Chief Commercial Officer. Mr. Gilligan most recently was Corporate Vice President at Celgene Corporation, where he led marketing, market access and business development for Celgene's Inflammation and Immunology Franchise. He held key leadership roles in the launch and growth of OTEZLA® through its sale to Amgen for $13.4 billion.

    "Martin brings deep biopharmaceutical…

    Martin Gilligan joins from Celgene Corporation where he led marketing, market access and business development for the Inflammation & Immunology Franchise

    Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced the appointment of Martin J. Gilligan as Chief Commercial Officer. Mr. Gilligan most recently was Corporate Vice President at Celgene Corporation, where he led marketing, market access and business development for Celgene's Inflammation and Immunology Franchise. He held key leadership roles in the launch and growth of OTEZLA® through its sale to Amgen for $13.4 billion.

    "Martin brings deep biopharmaceutical sales, marketing and market access expertise, and we're thrilled to have him join our executive team as we prepare for the potential commercialization of vonoprazan," said Terrie Curran, Chief Executive Officer of Phathom. "We expect Martin's proven commercial leadership and broad operational experience to be tremendously valuable as we continue to build out capabilities in advance of the potential launch of vonoprazan."

    Mr. Gilligan is a biopharmaceutical industry veteran with more than 25 years of experience in both global and US sales and marketing roles. Prior to Celgene, he held commercial roles of increasing responsibility at Pharmacia, Johnson & Johnson and Merck. Mr. Gilligan holds a bachelor's degree from Providence College and an MBA from Rutgers University.

    About Vonoprazan

    Vonoprazan, is an oral small molecule potassium competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown rapid, potent and durable anti-secretory effects and has demonstrated clinical benefits over standard of care treatments as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The U.S. Food and Drug Administration (FDA) has designated vonoprazan as a qualified infectious disease product (QIDP) and awarded Fast Track status for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone. Phathom in-licensed the U.S., European and Canadian rights to vonoprazan from Takeda, which completed 17 Phase 3 trials for vonoprazan and received marketing approval in Japan and numerous other countries in Asia and Latin America.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the potential regulatory approval and commercial launch of vonoprazan. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: potential delays in the commencement, enrollment and completion of clinical trials; the success of our clinical trials of vonoprazan and the results of prior clinical trials and other investigator-initiated clinical trials of vonoprazan are not necessarily predictive of our future results and the FDA and comparable foreign regulatory authorities may not accept the data from such prior trials to support approval; regulatory developments in the United States and foreign countries, including FDA and EMA developments that may be inconsistent with feedback received to date; 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; and other risks described in the company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Registration Statement on Form S-1 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

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  29. Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the initiation of PHALCON-HP. In this pivotal Phase 3 clinical trial, clinicians will evaluate vonoprazan in combination with amoxicillin (vonoprazan dual therapy) and vonoprazan in combination with amoxicillin and clarithromycin (vonoprazan triple therapy) for the successful eradication of H. pylori infection. With the initiation of PHALCON-HP, vonoprazan is now being evaluated in two pivotal trials to support regulatory submissions in two different disease areas in the United States and Europe. Earlier this month, the company initiated PHALCON-EE…

    Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the initiation of PHALCON-HP. In this pivotal Phase 3 clinical trial, clinicians will evaluate vonoprazan in combination with amoxicillin (vonoprazan dual therapy) and vonoprazan in combination with amoxicillin and clarithromycin (vonoprazan triple therapy) for the successful eradication of H. pylori infection. With the initiation of PHALCON-HP, vonoprazan is now being evaluated in two pivotal trials to support regulatory submissions in two different disease areas in the United States and Europe. Earlier this month, the company initiated PHALCON-EE, a pivotal trial evaluating vonoprazan for both the healing and maintenance of healing of erosive esophagitis as well as the relief of heartburn. Topline data from both PHALCON-HP and PHALCON-EE are expected in 2021.

    PHALCON-HP is a randomized, multicenter, Phase 3 trial that is planned to enroll approximately 975 patients with H. pylori infection. Participants will be randomized 1:1:1 to one of three arms: vonoprazan 20 mg administered twice a day (BID) and amoxicillin 1g administered three times a day (TID); vonoprazan 20 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID; and lansoprazole 30 mg BID, amoxicillin 1 g BID and clarithromycin 500 mg BID. Each treatment regimen will be administered for 14 days. The primary endpoint of PHALCON-HP is the percentage of patients with successful eradication of H. pylori infection.

    "The initiation of the PHALCON-HP study is another significant step in the development of vonoprazan for underserved patients living with gastrointestinal diseases," said Azmi Nabulsi, MD, Chief Operating Officer of Phathom. "There are millions of people living with H. pylori infection in the United States and Europe and due to increased antibiotic resistance, eradication rates for patients treated with currently available therapies are declining. In addition to the troubling symptoms of H. pylori infection, H. pylori patients have an increased risk of developing other serious diseases including gastric cancer and mucosa-associated lymphoid tissue (MALT) lymphoma. Vonoprazan, if approved, represents a first-in-class treatment that we believe will be a much needed new therapeutic option for H. pylori patients."

    About Helicobacter pylori (H. pylori) infection

    H. pylori is a bacterial pathogen that is estimated to infect over 200 million individuals in the United States and Europe. As a result of the chronic inflammation induced by H. pylori infection, approximately 20% of infected patients develop a range of pathologies including dyspepsia, peptic ulcer disease, gastric cancer, and mucosa-associated lymphoid tissue (MALT) lymphoma. Gastric cancer is the third most common cause of cancer-related death worldwide, and over 80% of gastric cancers are attributed to H. pylori infection.

    About Vonoprazan

    Vonoprazan, is an oral small molecule potassium competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown rapid, potent, and durable anti-secretory effects and has demonstrated clinical benefits over standard of care treatments as a single agent in the treatment of gastroesophageal reflux disease (GERD), and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. The FDA has designated vonoprazan as a qualified infectious disease product (QIDP) and awarded Fast Track status for the treatment of H. pylori infection in combination with both amoxicillin and clarithromycin and with amoxicillin alone. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 17 Phase 3 trials for vonoprazan and received marketing approval in Japan and numerous other countries in Asia and Latin America.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the timing of topline data from the ongoing vonoprazan trials, and the potential for vonoprazan to become the first new class of medicine and an important treatment alternative for patients not well-treated with the current standard of care. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: potential delays in the commencement, enrollment and completion of clinical trials; the success of our clinical trials of vonoprazan, and the results of prior clinical trials and other investigator-initiated clinical trials of vonoprazan are not necessarily predictive of our future results and the FDA and comparable foreign regulatory authorities may not accept the data from such prior trials to support approval; regulatory developments in the United States and foreign countries, including FDA and EMA developments that may be inconsistent with feedback received to date; 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; and other risks described in the company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Registration Statement on Form S-1 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

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  30. Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the initiation of PHALCON-EE, the Company's pivotal Phase 3 clinical trial of vonoprazan for both the healing and maintenance of healing of erosive esophagitis (EE) as well as the relief of heartburn.

    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that is planned to enroll approximately 1,000 patients with EE in the U.S. and Europe. The first phase of the trial will evaluate the efficacy and safety of vonoprazan 20 mg administered once-daily (QD) compared to lansoprazole 30 mg QD for the healing of EE for up to…

    Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the initiation of PHALCON-EE, the Company's pivotal Phase 3 clinical trial of vonoprazan for both the healing and maintenance of healing of erosive esophagitis (EE) as well as the relief of heartburn.

    PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that is planned to enroll approximately 1,000 patients with EE in the U.S. and Europe. The first phase of the trial will evaluate the efficacy and safety of vonoprazan 20 mg administered once-daily (QD) compared to lansoprazole 30 mg QD for the healing of EE for up to eight weeks. The second phase of the trial will evaluate the efficacy and safety of vonoprazan 10 mg QD and 20 mg QD compared to lansoprazole 15 mg QD for the maintenance of healing of EE for 24 weeks. Both phases will also evaluate heartburn symptoms.

    "We're pleased to have dosed the first patient in the PHALCON-EE study, a critical milestone in our mission to improve the lives of patients with acid-related disorders," said Azmi Nabulsi, MD, Chief Operating Officer of Phathom. "Vonoprazan, if successfully developed and approved for the healing and maintenance of healing of erosive esophagitis, as well as heartburn relief in those patients, would be the first new class of medicine available to patients in the U.S. and Europe in this category in over 30 years. We believe vonoprazan has the potential to become an important treatment alternative for the millions of patients not well-treated with the current standard of care."

    About Erosive Esophagitis

    Erosive Esophagitis (EE) is a major type of gastroesophageal reflux disease (GERD) characterized by erosions in the gastric mucosa caused by acidic reflux of stomach contents into the esophagus. There are estimated to be over 65 million individuals with GERD in the U.S., of which approximately 30% have EE. In addition to experiencing troubling heartburn symptoms, patients with inadequately treated EE may progress to more severe diseases including Barrett's esophagus and esophageal cancer.

    About Vonoprazan

    Vonoprazan, is an oral small molecule potassium competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown rapid, potent, and durable anti-secretory effects and has demonstrated clinical benefits over standard of care treatments as a single agent in the treatment of gastroesophageal reflux disease (GERD), and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 17 Phase 3 trials for vonorpazan and received marketing approval in Japan and eight other countries in Asia and Latin America.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the potential for vonoprazan to become the first new class of medicine and an important treatment alternative for patients not well-treated with the current standard of care. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: potential delays in the commencement, enrollment and completion of clinical trials; the success of our clinical trials of vonoprazan, and the results of prior clinical trials and other investigator-initiated clinical trials of vonoprazan are not necessarily predictive of our future results and the FDA and comparable foreign regulatory authorities may not accept the data from such prior trials to support approval; regulatory developments in the United States and foreign countries, including FDA and EMA developments that may be inconsistent with feedback received to date; 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; and other risks described in the company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Registration Statement on Form S-1 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

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  31. Terrie Curran joins as CEO from Celgene where she was President of the Global Inflammation and Immunology Franchise and Led the Launch and Commercialization of OTEZLA®

    Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today multiple executive appointments. As previously announced as part of the Company's succession plan, Terrie Curran, former President of the Global Inflammation and Immunology (I&I) Franchise at Celgene, now joins Phathom as Chief Executive Officer. Founding CEO David Socks transitions to interim Chief Financial Officer and remains a member of the Board of Directors. In addition to…

    Terrie Curran joins as CEO from Celgene where she was President of the Global Inflammation and Immunology Franchise and Led the Launch and Commercialization of OTEZLA®

    Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today multiple executive appointments. As previously announced as part of the Company's succession plan, Terrie Curran, former President of the Global Inflammation and Immunology (I&I) Franchise at Celgene, now joins Phathom as Chief Executive Officer. Founding CEO David Socks transitions to interim Chief Financial Officer and remains a member of the Board of Directors. In addition to Ms. Curran, also joining the Phathom leadership team are Eckhard Leifke, MD, as Chief Medical Officer; Joseph Hand, JD, as Chief Administrative Officer; and Larry Miller, JD, as General Counsel. Phathom also announced today that Asit Parikh, MD, PhD has replaced Chris Slavinsky on the Company's Board of Directors.

    "I am thrilled to be joining Phathom at this exciting time, as vonoprazan, our product candidate for the treatment of acid-related disorders, moves into Phase 3 clinical trials in multiple indications," said Ms. Curran. "I look forward to continuing to work with David, along with our expanded leadership team, to bring this important and novel therapy to underserved patients. I am also very pleased with our ability to attract exceptionally talented and experienced leaders such as Eckhard, Joe, and Larry as we continue to build the Company."

    Ms. Curran has more than 20 years of experience in the biopharmaceutical industry. She has served as President, Global Inflammation and Immunology (I&I) Franchise and as a member of the Executive Committee at Celgene Corporation since 2017. Ms. Curran joined Celgene in 2013 as the U.S. Commercial Head of the I&I Franchise and built the capabilities and recruited the teams that executed the successful launch of OTEZLA®, which was sold to Amgen in November 2019 for $13.4 billion. Prior to joining Celgene, she served as Senior Vice President and General Manager, Global Women's Health at Merck & Co. She currently serves on the board of Myovant Sciences and previously served on the board of H. Lundbeck A/S. Ms. Curran holds graduate and bachelor's degrees from the University of Technology, Sydney.

    Dr. Leifke joins Phathom from Omeros where he served as Chief Medical Officer. Prior to Omeros, he held executive roles at Sanofi, including Global Head/Vice President of Early Project & External Opportunities - Cardiovascular and Metabolism and Global Head/Vice President of Late Stage Development - Diabetes. Dr. Leifke has built global teams at pharmaceutical companies including Bayer and Takeda and led the global development of multiple early- and late-stage small molecule and biologic drug candidates to successful marketing authorizations worldwide. Dr. Leifke holds an MD from the University of Freiburg, Germany and is board-certified in internal medicine and endocrinology.

    Mr. Hand joins Phathom from Celgene, where he most recently served as Executive Vice President, Global Human Resources and Corporate Services and a member of its Executive Committee. In that capacity, he was responsible for all employee-related activities including talent development, recruiting, and compensation and benefits. He was also responsible for the management of Celgene's global facilities footprint. Prior to Celgene, he was a litigation attorney at the international law firm of Jones Day. Mr. Hand holds a BBA from the University of Notre Dame and a JD from New York University School of Law.

    Mr. Miller joins Phathom as General Counsel from Cyclerion Therapeutics where he served as General Counsel and Secretary. Prior to Cyclerion, he served as Senior Vice President, General Counsel and Secretary of Blue Buffalo where he led all legal activities including those related to the $8 billion acquisition by General Mills. Mr. Miller has also served as Chief Counsel for Pfizer Consumer Healthcare, Chief Counsel for the Pfizer Established Products Business Unit, and General Counsel of Enzon Pharmaceuticals. He holds an AB from Dartmouth College and a JD from Columbia University School of Law.

    In addition to the executive appointments, Dr. Parikh joins Phathom's Board of Directors as Chris Slavinsky steps down following his departure from Takeda to join Prometheus Biosciences. Dr. Parikh is currently Senior Vice President and Head of the Gastroenterology Therapeutic Area Unit at Takeda. He brings to Phathom's Board significant gastrointestinal therapeutic area experience, including the global development of Entyvio® and Takeda's other gastroenterology programs. Dr. Parikh earned his PhD in Biochemistry and MD from Vanderbilt University and completed his internal medicine residency at the University of Pennsylvania. He also completed subspecialty training in gastroenterology at the Massachusetts General Hospital and postdoctoral work in cancer biology at MIT.

    "I look forward to working with Asit and expect his deep gastroenterology drug development experience will be a tremendous asset to Phathom," said Tadataka (Tachi) Yamada, MD, Chairman of the Board at Phathom. "I would also like to extend my sincere thanks to Chris for his instrumental role in shaping Phathom from its inception."

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the Company's website at www.phathompharma.com.

    Forward Looking Statements

    The Company cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding vonoprazan moving into and potential success in the Company's Phase 3 clinical trials and the effect of the Company's planned management transition. The inclusion of forward-looking statements should not be regarded as a representation by the Company that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the Company's business, including, without limitation: the Company's ability to recruit patients for Phase 3 clinical trials; the potential for negative clinical trial results; reliance on third parties for manufacturing and certain development efforts; challenges in integrating new members of the management team and board of directors; and the need to continue to attract, integrate, retain and motivate necessary personnel to accomplish the Company's business objectives, as well as other risks described in the company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Registration Statement on Form S-1 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

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  32. Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that Azmi Nabulsi, M.D., Chief Operating Officer, will present at the Evercore 2019 HealthCONx Conference on Tuesday, December 3 at 1:35 p.m. EST at the Four Seasons Hotel, Boston.

    To access the live webcast and subsequent archived recordings for this presentation, which will be available for 30 days, please visit the Phathom Pharmaceuticals website at www.phathompharma.com.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases…

    Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that Azmi Nabulsi, M.D., Chief Operating Officer, will present at the Evercore 2019 HealthCONx Conference on Tuesday, December 3 at 1:35 p.m. EST at the Four Seasons Hotel, Boston.

    To access the live webcast and subsequent archived recordings for this presentation, which will be available for 30 days, please visit the Phathom Pharmaceuticals website at www.phathompharma.com.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com.

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  33. Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today its results for the third quarter ended September 30, 2019 and provided an update on recent corporate developments.

    "Phathom has made tremendous progress in the six months since licensing the rights to vonoprazan, our foundational product candidate for the treatment of acid-related disorders," said David Socks, President and CEO of Phathom. "In that time, we met with and received positive feedback from the FDA and EMA, received IND clearance as well as QIDP and Fast Track status from the FDA, and completed our IPO with gross proceeds of $209.0…

    Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today its results for the third quarter ended September 30, 2019 and provided an update on recent corporate developments.

    "Phathom has made tremendous progress in the six months since licensing the rights to vonoprazan, our foundational product candidate for the treatment of acid-related disorders," said David Socks, President and CEO of Phathom. "In that time, we met with and received positive feedback from the FDA and EMA, received IND clearance as well as QIDP and Fast Track status from the FDA, and completed our IPO with gross proceeds of $209.0 million. We also remain on track to initiate PHALCON-EE, our Phase 3 clinical trial of vonoprazan for both the healing and maintenance of healing of erosive esophagitis as well as the relief of heartburn, and PHALCON-HP, our Phase 3 clinical trial of vonoprazan in combination with antibiotics for the treatment of H. pylori infection, before year end."

    Third-Quarter 2019 Business Highlights:

    • Received Qualified Infection Disease Pathogen (QIDP) designation from the U.S. Food and Drug Administration (FDA) for vonoprazan in combination with both amoxicillin and clarithromycin and in combination with amoxicillin alone for the treatment of H. pylori infection. With the QIDP designation, Phathom's H. pylori program is eligible for certain benefits, including potential eligibility for priority review. Further, if ultimately approved by the FDA for the treatment of H. pylori infection, vonoprazan would be eligible for extension by an additional five years of any non-patent exclusivity period awarded, such as the five-year exclusivity period awarded for a new chemical entity.
    • Achieved investigational new drug (IND) clearance from the FDA for the vonoprazan erosive esophagitis (EE) and H. pylori programs.
    • Announced leadership succession plan and new appointments to the Company's Board of Directors. New management and board members include experienced leaders with a track record of building successful companies and launching commercial products, including those in the gastrointestinal therapeutic area.

    Recent Developments:

    • In October 2019, closed initial public offering (IPO) of 10,997,630 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase 1,434,473 additional shares, at a public offering price of $19.00 per share. Including the option exercise, the gross proceeds to Phathom, before deducting underwriting discounts and commissions and estimated offering expenses, were $209.0 million.
    • In October 2019, received Fast Track designation from the FDA for vonoprazan for the treatment of H. pylori infection.

    Third Quarter and Year-to-Date 2019 Financial Results:

    • Net loss for the third quarter of 2019 was $68.1 million, including a $57.8 million non-cash charge for change in fair value of warrant liabilities and a $2.5 million non-cash charge for change in fair value of promissory notes, compared to net loss of $0.3 million for the same period in 2018.
    • Research and development expenses for the third quarter of 2019 were $4.5 million, compared to $0 for the same period in 2018.
    • General and administrative expenses for the three months ended September 30, 2019 were $1.8 million, compared to $0.3 million for the same period in 2018.
    • As of September 30, 2019, Phathom had approximately $74.5 million in cash and cash equivalents, which does not include net proceeds of $191.4 million from the Company's October 2019 IPO.

    About Vonoprazan

    Vonoprazan is an oral small molecule potassium competitive acid blocker (P-CAB). P-CABs are a novel class of medicines that block acid secretion in the stomach. Vonoprazan has shown rapid, potent, and durable anti-secretory effects and has demonstrated clinical benefits over standard of care treatments as a single agent in the treatment of gastroesophageal reflux disease (GERD) and in combination with antibiotics for the treatment of Helicobacter pylori (H. pylori) infection. Phathom in-licensed the U.S., European, and Canadian rights to vonoprazan from Takeda, which completed 17 Phase 3 trials for vonorpazan and received marketing approval in Japan and eight other countries in Asia and Latin America.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com.

    Forward Looking Statements

    Phathom cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected timing of the initiation of Phase 3 clinical trials of vonoprazan before the end of 2019; and the potential to receive regulatory and exclusivity benefits as a result of QIDP and Fast Track designations. The inclusion of forward-looking statements should not be regarded as a representation by Phathom that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Phathom's business, including, without limitation: potential delays in the commencement, enrollment and completion of clinical trials; our dependence on third parties in connection with product manufacturing, research and preclinical and clinical testing; the success of our clinical trials of vonoprazan, and the results of prior clinical trials and other investigator-initiated clinical trials of vonoprazan are not necessarily predictive of our future results and the FDA and comparable foreign regulatory authorities may not accept the data from such prior trials to support approval; regulatory developments in the United States and foreign countries; 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; QIDP and Fast Track designations may not actually lead to a faster development or regulatory review or extended exclusivity, and would not assure FDA approval of vonoprazan; our ability to obtain and maintain intellectual property protection for vonoprazan; our ability to comply with our license agreement with Takeda; and other risks described in the company's prior press releases and the Company's filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in the Company's Registration Statement on Form S-1 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Phathom undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

    TABLES FOLLOW

    PHATHOM PHARMACEUTICALS, INC.

    Combined Statements of Operations and Comprehensive Loss

    (Unaudited)

    (in thousands, except per share data)

     

    Three Months Ended

    September 30,

    Nine Months Ended

    September 30,

    2019

     

    2018

     

    2019

     

    2018

    (unaudited)

    (unaudited)

    Operating expenses:

    Research and development

    $ 4,469

    $ 6

    $ 7,670

    $ 6

    In-process research and development

    78,897

    General and administrative

    1,813

    262

    3,955

    768

    Total operating expenses

    6,282

    268

    90,522

    774

     

    Loss from operations

    (6,282)

    (268)

    (90,522)

    (774)

     

    Other income (expense):

    Interest income

    429

    530

    Interest expense

    (1,990)

    (4)

    (3,138)

    (8)

    Change in fair value of warrant liabilities

    (57,776)

    (59,060)

    Change in fair value of convertible promissory notes

    (2,486)

    (18)

    (4,928)

    (22)

    Other income (expense)

    (7)

    (7)

    Total other income (expense)

    (61,830)

    (22)

    (66,603)

    (30)

    Net loss

    $ (68,112)

    $ (290)

    $(157,125)

    $ (804)

    Net loss per share, basic and diluted

    $ (9.30)

    $ (0.04)

    $ (22.87)

    $ (0.14)

    Weighted-average shares of common stock

    outstanding, basic and diluted

    7,326,090

    6,760,334

    6,871,471

    5,812,860

    PHATHOM PHARMACEUTICALS, INC.

    Combined Balance Sheets

    (Unaudited)

    (in thousands)

     

     

     

    September 30,

    2019

     

     

    December 31,

    2018

     

     

     

    (unaudited)

     

     

     

     

     

    Assets

     

     

     

     

     

     

     

     

    Current assets:

     

     

     

     

     

     

     

     

    Cash and cash equivalents

     

    $

    74,484

     

     

    $

    879

     

    Prepaid expenses and other current assets

     

     

    3,169

     

     

     

    23

     

    Total current assets

     

     

    77,653

     

     

     

    902

     

    Property, plant and equipment, net

     

     

    40

     

     

     

     

    Other assets

     

     

    2,013

     

     

     

     

    Total assets

     

    $

    79,706

     

     

    $

    902

     

     

     

     

     

     

     

     

     

     

    Liabilities and Stockholders' Deficit

     

     

     

     

     

     

     

     

    Current liabilities:

     

     

     

     

     

     

     

     

    Accounts payable

     

    $

    439

     

     

    $

    55

     

    Accrued expenses

     

     

    2,120

     

     

     

    170

     

    Accrued interest

     

     

    2,332

     

     

     

    13

     

    Convertible promissory notes payable at fair value

     

     

    95,229

     

     

     

    1,950

     

    Warrant liabilities

     

     

    107,373

     

     

     

     

    Total current liabilities

     

     

    207,493

     

     

     

    2,188

     

     

     

     

     

     

     

     

     

     

    Long-term debt, net of discount

     

     

    22,611

     

     

     

     

    Other long-term liabilities

     

     

    2,063

     

     

     

     

    Total liabilities

     

     

    232,167

     

     

     

    2,188

     

     

     

     

     

     

     

     

     

     

    Commitments and contingencies

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Stockholders' deficit:

     

     

     

     

     

     

     

     

    Common stock

     

     

     

     

     

     

    Additional paid-in capital

     

     

    5,952

     

     

     

    2

     

    Accumulated deficit

     

     

    (158,413

    )

     

     

    (1,288

    )

    Total stockholders' deficit

     

     

    (152,461

    )

     

     

    (1,286

    )

    Total liabilities and stockholders' deficit

     

    $

    79,706

     

     

    $

    902

     

     

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  34. Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that David Socks, President and CEO, will present at the Jefferies 2019 London Healthcare Conference on Wednesday, November 20 at 10:40 a.m. GMT at the Waldorf Hilton, London.

    To access the live webcast and subsequent archived recordings for this presentation, which will be available for 30 days, please visit the Phathom Pharmaceuticals website at www.phathompharma.com.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and…

    Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today that David Socks, President and CEO, will present at the Jefferies 2019 London Healthcare Conference on Wednesday, November 20 at 10:40 a.m. GMT at the Waldorf Hilton, London.

    To access the live webcast and subsequent archived recordings for this presentation, which will be available for 30 days, please visit the Phathom Pharmaceuticals website at www.phathompharma.com.

    About Phathom

    Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders. For more information about Phathom, visit the company's website at www.phathompharma.com.

    View Full Article Hide Full Article
  35. Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the closing of its previously announced initial public offering of 10,997,630 shares of its common stock, which includes the exercise in full by the underwriters of their option to purchase 1,434,473 additional shares, at a public offering price of $19.00 per share. Including the option exercise, the gross proceeds to Phathom, before deducting underwriting discounts and commissions and estimated offering expenses, were $209.0 million.

    The shares are listed on the Nasdaq Global Select Market under the trading symbol "PHAT."

    Goldman Sachs & Co…

    Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the closing of its previously announced initial public offering of 10,997,630 shares of its common stock, which includes the exercise in full by the underwriters of their option to purchase 1,434,473 additional shares, at a public offering price of $19.00 per share. Including the option exercise, the gross proceeds to Phathom, before deducting underwriting discounts and commissions and estimated offering expenses, were $209.0 million.

    The shares are listed on the Nasdaq Global Select Market under the trading symbol "PHAT."

    Goldman Sachs & Co. LLC, Jefferies and Evercore ISI acted as joint book-running managers for the offering. Needham & Company acted as lead manager for the offering.

    Registration statements relating to the shares have been filed with the Securities and Exchange Commission and became effective on October 24, 2019. The offering was made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at prospectus-ny@ny.email.gs.com; from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; or from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055, or by telephone at (888) 474-0200, or by email at ecm.prospectus@evercore.com.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

    About Phathom

    Phathom Pharmaceuticals is a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases.

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