Phathom Q2 revenue $74.3M (+88% YoY); net loss narrows to $17.6M; initiates Phase 3 NERD trial

Phathom Pharmaceuticals, Inc.

2026-Q2 EPS reported -$0.58 revenue$132,575,000

Record Q2 net revenue $74.3M, up 88% YoY and 27% QoQ; operating expenses $63.1M, down 33% YoY.
Net loss $17.6M vs $75.8M in Q2 2025; non-GAAP adjusted net loss nearly zero at $0.1M.
~325,000 VOQUEZNA prescriptions in Q2 (+88% YoY); ~1.7M total to date.
Initiating Phase 3 trial for as-needed VOQUEZNA in NERD; first enrollment expected Q4 2026.
Completed enrollment in Phase 2 EoE trial; topline results expected Q4 2026.

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