Phathom Q3 Net Revenue Rises 71% to $84.7 Million, Net Loss Narrows to $13.9 Million as VOQUEZNA Prescriptions Top 2 Million
Gastrointestinal drug maker Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT) on October 29 reported results for the third quarter of 2026. Net revenues were $84.7 million, up 71% from $49.5 million in the third quarter of 2025 and up 14% from the second quarter of 2026.
The increase reflected continued growth from the company's commercial strategy. Total VOQUEZNA prescriptions filled since launch surpassed 2 million through October 16, 2026. Approximately 380,000 prescriptions were filled in the third quarter, including about 248,000 covered prescriptions and 132,000 cash-pay prescriptions, with covered volume up about 19% sequentially.
The quarterly net loss narrowed to $13.9 million from $30.0 million a year earlier, while non-GAAP adjusted net income was $3.0 million, compared with an adjusted net loss of $11.2 million a year earlier. Phathom generated positive operating cash flow for the second consecutive quarter, and cash and cash equivalents stood at $184.6 million as of September 30.
President and Chief Executive Officer Steve Basta said the company continues to grow VOQUEZNA prescribing depth among GI providers and has implemented initiatives to make it easier for physicians to prescribe and patients to obtain the treatment, including a new copay offering through pharmacy partner BlinkRx under which eligible commercially insured patients may pay as little as $0.
Phathom reaffirmed its full-year 2026 guidance for net revenue of $310 million to $325 million and a gross margin of about 80%. Clinically, a registrational Phase 3 study of VOQUEZNA for as-needed use in non-erosive GERD began dosing in September, and topline results from a Phase 2 trial in eosinophilic esophagitis are expected in the fourth quarter. Headquartered in Florham Park, New Jersey, Phathom holds exclusive rights to vonoprazan in the United States, Europe and Canada.
Source: GSM · USA (original Chinese edition)
Photo: 图：药房工作人员使用自动数片机装填处方药瓶（资料图）。美国空军照片，Airman Trevor Calvert 摄，公共领域，经 Wikimedia Commons。 / A pharmacy worker fills a prescription bottle using an automated pill counter (file photo). U.S. Air Force photo by Airman Trevor Calvert, public domain, via Wikimedia Commons.
