Phathom Q1 net revenue $28.5M, net loss $94.3M; cuts costs, exec changes, targets 2026 profit

Phathom Pharmaceuticals, Inc.

2025-Q1 EPS reported -$1.31 revenue$28,519,000

Net revenue $28.5M (up from $1.9M YoY); net loss $94.3M ($77.1M non-GAAP adjusted).
Over 390k VOQUEZNA prescriptions filled; ~127k in Q1, up ~8% sequentially despite seasonal headwinds.
Cost reduction: cut 2025 opex by $60-70M, reduce headcount ~6%, pause EoE trial, target Q4 spend <$55M.
CEO restructuring: new SVP Sales from Intra-Cellular; COO, CCO, CFO exit; Ted Schroeder on Board.
Citizen Petition filed Dec 2024 for 10-year NCE exclusivity; FDA response due within 180 days.

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