Phathom Pharmaceuticals Q2 revenue beats on Voquezna prescription growth

Overview

• US biopharma firm's Q2 revenue rose 88% yr/yr, beating analyst expectations

• Q2 operating expenses fell 33% yr/yr due to lower commercial and personnel costs

• Company achieved operating profitability excluding stock-based compensation for the first time

Outlook

• Phathom lowers FY 2026 net revenue guidance to $310–325 mln from $320–345 mln

• Company maintains FY 2026 non-GAAP operating expense guidance at $235–245 mln

• Phathom expects to achieve operating profitability for remainder and full year 2026, excluding stock-based compensation

Result Drivers

• VOQUEZNA PRESCRIPTION GROWTH - Co said revenue increase was driven by higher VOQUEZNA prescription volumes following execution of its commercial strategy

• EXPENSE REDUCTION - Operating expenses fell due to lower commercial promotional spend and personnel-related costs

Company press release: ID:nGNX9MHF4p

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Phathom Pharmaceuticals Inc is $25.50, about 119.1% above its July 29 closing price of $11.64

Reuters Recommended Reads

• July 30 - Agios Q2 revenue jumps on US commercial launch of AQVESME

• July 29 - Corcept Therapeutics Q2 revenue estimates, raises 2026 outlook

• July 29 - Biogen beats quarterly estimates as newer drugs drive growth

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)