Phathom Pharmaceuticals Shares Fall After Q3 Loss Widens

MT Newswires Live11-07

Phathom Pharmaceuticals' (PHAT) shares were down 3.3% in recent Thursday trading after the company reported a Q3 net loss of $1.05 per diluted share, wider than a loss of $0.54 a year earlier.

Two analysts polled by Capital IQ projected a loss of $1.47 per share.

Net revenue for the quarter ended Sept. 30 was $16.4 million, with no year-ago revenue reported.

Analysts surveyed by Capital IQ expect $12.4 million.

"There were no revenues for the third quarter 2023 due to the launch of Voquezna taking place in the fourth quarter 2023," according to the company.

Phathom received approval from the US Food and Drug Administration in July for Voquezna tablets for the relief of heartburn related to non-erosive gastroesophageal reflux disease in adults.

Price: 17.41, Change: -0.59, Percent Change: -3.31

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