PHAT - Phathom Pharmaceuticals: Time To Deliver Promise Of Voquezna After Frustrating Delays

2024-06-26 06:11:34 ET

Summary

• Phathom Pharmaceuticals stock has significantly declined since 2021, despite securing FDA approval for Vonoprazan to treat H. pylori infection and GERD.
• The company faced delays in launching its products due to the presence of a cancer-causing agent in commercial batches, but eventually received full FDA approval.
• PHAT aims to target a substantial market opportunity with Vonoprazan, potentially leading to a share price rally and challenging a billion-dollar market cap valuation.
• The delays in launching Voquenza have been frustrating, but now the company is conducting a full launch and may secure a lucrative label expansion with an approval in non-erosive GERD next month.

Investment Overview

I last covered Phathom Pharmaceuticals ( PHAT ) for Seeking Alpha around three and a half years ago, in January 2021, when the biotech's stock traded ~$39 per share, more than double its October 2019 IPO price of $19 per share (the IPO raised >$200m)....

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