PHAT - Earnings call transcript Q3 2024 | Phathom Pharmaceuticals, Inc.

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Operator

Hello, and welcome to the Phathom Pharmaceuticals Third Quarter 2024 Earnings Results Call. At this time, all participants are in listen-only mode. After the presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's call is being recorded. like Head the of would Eric over I Phathom's Sciorilli, Investor that, to conference turn to With Relations. Please go ahead.

Eric Sciorilli

call. Thank you for CEO, discuss everyone, from Terrie and this include President presentation Hello, XXXX to and Azmi joining our morning's quarter Chief Operating today's Phathom's Officer you, morning Chief our Molly the Gilligan, portion our during third Officer, Martin remarks Q&A This will Henderson, our Curran, also joining be Nabulsi, operator. and Commercial Chief team us results. thank the Financial Officer. will of

news Further, corporate a the can we a this Just of release couple results presentation today's during started. of detailing of events webcast website. release found releases the found of of A before logistical can we issued website. under get the section be that and we call. be discussing under items our recording the morning, the will corporate section Earlier our press copy be press

of this forward-looking With slide CEO, update XX-K statements, on call will Phathom obligation subsequent available Before affect section such kick Phathom's our you to that, of is turn and forward-looking us Form and the we can of call that Actual president Terrie? a involve statements forward-looking materially Phathom's A Terrie risks Curran, on throughout date, made These as and disclaims the Phathom the based are of discussion to begin, as on factors adversely risk of beyond All filing. as stock. common risks these this from most differ to and and trading materially over and the statements making I be the well off. of beliefs Phathom's factors are now risk forward-looking current statements results the for business, which can presentation. let any Safe any control. operations, number uncertainties, statements. in Harbor we many the prices FEC of today's will results me these recent statements and remind

Terrie Curran

strategies and the us I'm you update of recent Eric, commercial seeing priority, excited and share patients Successful and and growing month, remains confidence launch week important physicians access. an we're from inspire well pleased trended from impactful. performance market top patient and you, launch progress. our outcomes thank with over month data, indicators key as been coverage to on all Thank today's respect to payers. Week These VOQUEZNA as on have increased Phathom's those to positively prescription call. have I'm sentiment, our to provide that that over interest joining

our confident sizable we VOQUEZNA's our journey, appropriately market to teams on As that I'm deliver opportunity. continue the positioned are launch

milestones launch achieved investment in business. important The VOQUEZNA. third Phathom was which and the and momentous quarter We balance for our our to advanced sheet several our strengthened commercial XXXX of enable continued

On of and front, now as approval the lives for expanded GERD has for covered. greatly treatment the commercial surpassed which commercial we a FDA access, XX% non-erosive secured VOQUEZNA

$XXX of release leveraged adults. July, In equity in lies financial that to VOQUEZNA view evidence with in that million successfully follow-on, approved the the have in as for was markets proceeds heartburn GERD the ahead. capital raise side, we we achievements gross which confidence On non-erosive associated the opportunity these an the of

XX made action of Ultimately, over with benefits XXX far believe of with estimated have GERD approved, GERD and greatly a commercial been now parallel, relief millions single our to able the the can also nearly quarter. the VOQUEZNA. And accomplishment changer we step have important other to this the access the of those onset lives a identical teams coverage adults. increased on dynamics PPI effect, enhancing progress The subject tremendous. CVS patients three to GERD, addressable a VOQUEZNA U.S. important launch. GERD the pharmacy market largest their durability And place GERD, several since major has secured Between of existing As so we marketing expansion to successfully to plans largest of million had erosive coverage National commercially be quickly prescription. we leverage options. In Late VOQUEZNA of been the indications for sales roughly Formulary, to in VOQUEZNA's an insured managers. subcategory market game we in the the erosive are those VOQUEZNA's already major non-erosive Caremark the of who for are and with and million formulary majority the both providing treatment to our through generic feedback this label its now have third lives, announced placements, we in of dissatisfied July, the the addition rapid country's

and One to of a serve done months both we've we in increasing affordable always come, earned. In a good of this we believe We patients. coverage as launch to proud our goals ensure to the is advancing effort, we the been and commercial accessible VOQUEZNA tailwind, our across both utilisation and of are the widely indications. have commercial the GERD quality feel quantity job access will has

and both increasing we launch, believe data evidence trajectory brand a by over growth year are patients. launch market results. already serves third believe validates have commercial are In need awareness. positive non-erosive We prescriptions less since are the highlighted been the XXX,XXX elevating the fact, this filled metric unmet VOQUEZNA in securing our of as a having the that than We broader XXXX and coverage quarter the volume. In our impact effects impressive, on of already approval by

expanding the goal VOQUEZNA marketplace. the recognition that the underway, earned impressed by to improve on filled be the prescribers the number the momentum, being quantitative our this With is I ultimately quarter scripts has patients. Outside continue of fourth data, by and the of VOQUEZNA to VOQUEZNA in number the

experience the the as and to or physicians attending disrupt having Physicians, of key Across a the option on potential multiple GI sources its innovation. community the physician reinforcing Gastroenterology we non-erosive VOQUEZNA and for the the what their the has market. coverage sharply, our find testimonials opinion GERD. And patient has the VOQUEZNA conference receive of following positive where especially most new is its our industry on was medical clear toolkit. in consistency by many the patients, describing I feedback, leaders recently touting basis, PPI VOQUEZNA weekly recently the excited front, American team to continue attended a be to addition that the also increased approval College sentiment. awards various a of with it Media In won for VOQUEZNA these all noteworthy

to GERD pipeline, early data Turning our understand real patterns physician the begun consumer now VOQUEZNA's reviewing prescribing we've habits. world and to non-erosive usage

these VOQUEZNA episodes. final we needed, and esophagitis obtaining a plan timing the in a EoE, initiate for the insights as phase or the which the of will first potential heartburn help the of on we of are as-needs FDA potential data stages dosing assess now investigating XXXX. eosinophilic of a alignment active phase advancing treatment of two the value program validate additional VOQUEZNA Although to half Separately, to the three believe program we're in

million I'm for and balance the our results enable of happy our side, million Molly cash. $XXX remain quarter very sheet us business further full allowing and our in We to in in accomplishments $XX.X results. We detail quarter steps recognize we were ended on XXXX delivering will financial will strength strategies. opportunity. today's Phathom the with believe the third to VOQUEZNA's continue key net reported with which confident third our On revenues that market

call appropriately has vision I drive understand coverage provide brand and been With the terrific and details recent technology on recent over progress. We've always Our for we successfully and And focused I'll our we can executing now people, that investment, commercial growth. on updates. VOQUEZNA. in approvals predict levers enable data believe to expanded to invested turn is commercial strategy. our continued to we're Martin to secured, marketing us Martin? making believe our confident help the blockbuster further best commercial opportunity possible I'm achieve the

Martin Gilligan

to we're start quarter comments I'd echoing like results. our by with pleased that Terri's third

Today's increased access been GERD diligently the for progress coverage, non-erosive teams approval opportunity. of we've VOQUEZNA's our realize are evidence the to and market results made. Following working the expanded market have clear

have that updates on additional drive with our color done helped efforts sharing quarter. I launch follow and have with on begin the As data we will our previously, successful third

to our we no Now, that defined metrics, are scripts like I'd of points. note as even reporting total one demand turning as if not written, to quarterly data our longer the number filled, of

early was meant commercial to market only while mentioned be serve an coverage. metric. It to past, to indicator of As as was in establish we work an VOQUEZNA interest intended launch for demand we've the

being that our prescriptions an patients Now, In patients. usage said, the given growth surpassed growth. filled through believe is now amongst recent a prescribers have quarter. accurate than XX,XXX launch prescriptions we last more key label our of is filled widespread of October and since driver the for doubled With third access, commercial metric the recorded XX. This we approximately believe the by specifically, displaying from measure XXX,XXX we reported second filled the prescriptions, expansion GERD this We amount doubling just also report, we about VOQUEZNA non-erosive XXX%. was of nearly quarter for the

non-erosive fact, In and approved XX XXX% milligram, for GERD, between filled by increased dose for QX. prescriptions the over QX

with one of increase. well volumes are As filled pharmacies, as IQVIA, proportion the a include pharmacies through through programs. retail volume filled through Consistent as expected figures of reminder, coverage our commercial flowing previous patient VOQUEZNA's updates, expanded, BlinkRx, retail assistant which our by these captured those as we to

our in total written number retail to script were XXth, report. such, parallel, as filled In for the to captured increased and As of through X,XXX over who filled QX, IQVIA. over of by of as compared October XX% the the prescriptions filled physicians approximately XX,XXX pharmacies last have

are end filled VOQUEZNA prescription in a up XX,XXX written writers QX. QX, strong We the about of continues compared to the to indicate cumulative adoption. Through approximately prescribers pleased VOQUEZNA XX% have that growth

generate so growing, repeat writing and Therefore, objectives more their strategy often. to patients. I'm VOQUEZNA once has join that aim working with results. the excited doing of Our that data writers they happy VOQUEZNA early shows see will key to the meaning prescribe our those benefit one they are is that been report those this is frequently write new by who that we're

secured, a covering prescription assigned national that the months have Early included with we plans Since quarter, VOQUEZNA formularies. VOQUEZNA wins over according see available that the as payer prescriptions for on access encouraging for XX affordability for access we're VOQUEZNA step on in commercial to the following, to downstream GERD availability commercial majority this responsible management have a we've of plans its In All in XX million for growth data of than formularies for forth stems from third proud widespread patients. year, the less positioning formularies is across start all approved VOQUEZNA a significant strategy, management for indications announced lives. and that is Caremark importantly, secured their we of appropriate for patients. With commercial the added single of which non-erosive the set similar milligram PPI. In the health And QX, have only been we requiring utilization through evidence we CVS access negotiated generic successfully major covered. VOQUEZNA. utilization has with

covered now total or estimated VOQUEZNA than XXX commercial over result, population more a U.S. million all people, XX% an lives. captures of As

with Since care the front, were focused promotional of were then, remain mechanism they to the prescriber early first awareness GERD, primary new accelerating the increasing coming In as with physicians. market. aware the we growing gastroenterologists VOQUEZNA days on and launch, focused of we've embrace largely been to base. target On non-erosive the on

patient In VOQUEZNA since These doctors physicians. where primary launch QX prescribers were for decisions. the are new GERD of management first responsible most care quarter was fact, the majority

make a treatment is aim group. VOQUEZNA to our this amongst So option leading

can physician we As know for direct requests feedback consumers, often and prescribing choices. that positive impact

GERD notice their patient Some relay been which we Kick we DTC prescriber. has and non-erosive Can their their through to further encourage VOQUEZNA campaign, to patients investment experience include ask in quickly continue Fortunately, believe and expanded back our physician taking sentiment about patients is messaging. to that In to benefits tandem, Acid VOQUEZNA terrific, the VOQUEZNA

maturing, is preliminary confirmed reaching that VOQUEZNA. appropriate the our While audience are consumers is the analysis to data campaign exposed converting that and the still have

and GERD we've we first in confident recent has months. for pylori, the and in approach foundation As these anniversary momentum VOQUEZNA's I'm followed that erosive the of initial launch built the H.

believe We I continue to quarterly by delivering we excited to and continue results. poised are be outstanding progress, our

results. months Molly? getting to the to ago, having With is GERD financial it Molly our indication four we non-erosive growth opportunity significant even off there as not hands. walk through launched work VOQUEZNA displacing patients' I'll toward believe PPIs we into pass now for and

Molly Henderson

Thank results and to you call. today. share Martin, financial you, our hello quarter with everyone pleased I'm to third the on XXXX

items. numbers, the to Before like going into note I'd two

calls, not call regarding still projected are be to First, providing earnings early we launch. we as previous similar and revenues guidance during this financial will or into

Additionally, comparable release. GERD both press in financial non-GAAP section supporting I later will commenting directly detailed be their on be morning's my and reconciliations measures, most and discussed can GAAP measures this in non-GAAP between schedules measures be with found and will

our growth to the quarter and the non-erosive we believe the revenue expansion in In $XX.X XXth, label represents we Turning launch, to an net the connection the quarter-over-quarter XXXX, results, contributed September quarter. over XXX% GERD sequential third during of third revenues our with increase. million, reported momentum from in which also

wholesalers remained that stocking largely are retail product early about still with assessing the inventory on two of GERD quarters, worth hand. are weeks' patterns, holding previous of data following signalling While consistent have launch we non-erosive

once Regarding we with forth line set rates expectations in the growth pre-launch. to net, are again discount

We our the entire the will quarter, quarter. quarter XX% GERD include will our evolution discount, the of especially for the to non-erosive GTN monitor and commercial continue first to above of coverage fourth which impacts be in full

about September ended XXth, a to last quarter. gross of equates reported $XX profit of XXX over quarter the XX%, an margin gross we which million, points of basis For XXXX, increase

to Looking XX% third of operating decrease non-GAAP reflects to R&D compared of QX, related XXXX quarterly the XXXX. we ongoing operations and clinical $X.X a represents sequential P&L trial, standard wind daily This increase spend phase quarter sequentially to dosing quarter. million the related last business also third spend the to our for our our the increase quarter, completed compared down XX% reported which a reflects down non-erosive compared to three The while decrease reflects activities. regulatory expenses, to

we of period our quarter, represents expenses late SG&A, XXXX. same $XX.X in the commercial for by million of infrastructure the This support in XXXX, primarily relative for the in non-GAAP the VOQUEZNA launch increase million of out $XX.X As reported to an of third driven 'XX. build

second in basis, Additionally, costs ongoing were flat last communicated. million connection expected compares with included overall advertising quarter. sequential On this expenses to SG&A period's a this expense $XX.X and SG&A $XX.X approximately as quarter's million our campaign, which reported of previously to compared the quarter DTC quarterly

Going early into increased campaign. from in our forward, XXXX of commercial for XXXX direct and our we based on activities the consumer anticipate investments the results remainder to

net loss this $XX.X share or or discounts. interest EPS, most for previous operating non-cash stock-based Other the $X.XX sequentially liability for the quarter, As million was interest XXXX, expense GAAP Similar we loss reported our for non-GAAP to of quarter compared adjusted quarters, $XX.X the non-cash of revenue items share of per to third to million expenses interest year. per $X.XX reconciling second reconciling non-cash included non-GAAP compensation. related item between financing amortization on and significant debt and loss non-GAAP

certain from September of balance $XXX which cash to million available, $XX to debt million up our XXth, and million, in is from $XXX as financing additional to XXXX, milestones. This the $XXX an sheet, subject is remains available achievement were of year, equity proceeds available equivalents of the includes next August. Turning balance cash cash received facility revenue million year closed we this upon and

reverse the initiated interest proceeds of and approval the was and strengthen an expanded results, of non-erosive investors opportune Following resulted was from further commercial August to by our GERD, in The time financing we sheet. million. it felt balance gross select strong coverage, $XXX QX

deliver and have team's additional a challenging significant market cash we we and believe our our through opportunity. runway cash estimated markets ability enhancing our confidence product With under I'd capital revenues, loan. VOQUEZNA's on and our XXXX position, available this our XXXX. its Beyond funds reiterating close XXXX current capital, we based to positivity, remainder to like ability cash felt term signalled on complete third quarter on to operating in start financing the focus solid our by our of results highlighting plan, of flow and

We opportunity on turn we as back these to and direct allocation with well the I believe and Terrie to over comments. on return have as our to keenly commercial our strategy in our R&D would the and a With investments areas. we that, are in on Terrie? closing made blockbuster call campaign, for a to forward to ensure capital our we our have strategy continue We focused VOQUEZNA, to market updated keeping consumer activities. look like strong

Terrie Curran

you, Thank on you And our very us today's quarter happy thank Molly. again everyone to call. joining accomplishments. We're with third

confident support. us and you question build-up our XX appreciate DTC patients effort, brand operator Thank its VOQUEZNA ultimately marketplace. We growth to the again is joining to I'll full it it we're expanding for beginning, VOQUEZNA. over that and building among believe a the launched we've by the we great to interest potential. we today. physicians, prepared minute and session. I'm we early awareness commercialization expanded our have Over milestones the three will in launch, communicating role the our differentiation, and GERD, commercial non-erosive last successful From our a patients as commercial VOQUEZNA strengthened results. pillars on fourth balance to still for a much launch quarterly evidenced our on and early its few made access. To fortifying launch for that enhance phases and we progress position goals reach of now quarter, your play the answer each ongoing VOQUEZNA's and We we on fuel of coverage in sheet. of awareness facilitate the these months, success. major help would in our Each driving turn By very continue on felt In for can strategy believe focused brand the of date, Operator? we'll execute continued these

Operator

[Operator Instructions].

Annabel Stiefel. comes question Our of or Samimy line from from comment first the

Annabel Samimy

little to try to just So clarify wanted bit. a

rapid. impressively really was uptick coverage Your

is because XX Blink, And words, of inflection percent access, from actual prescriptions you is days? so from that this you uptick what on other NERD what have? the non-erosive the seeing that have the clearly prescriptions increased should we from that versus we indications? now extent indication this is might the GERD And In to the had expected start

Martin Gilligan

It's Martin.

of all, First the thanks have. coverage recognizing rapid for that we

it's heard us. highlight you us say think for I before, a

be it. we happier So, couldn't about

to seeing, tied scripts a increased what both. we're but demand of through, mixture that the getting the which exactly non-erosive. launch is know are we're say, we intended, also going terms I'm More of we to growth In seeing it's of

so you immediate rise XX we're seeing to know continues an that why milligrams, just that we that saw And demand? Well, do grow.

milligrams Now, used but for GERD, clearly to XX can be erosive also non-erosive. that's tied

is mixture of to And So days? Did the make are sure you it really two. then piece, a clarity. I the just I percent have say what last wanted XX

Annabel Samimy

Yes, one prescriptions. some that prescriptions day thought, noted the are I XX things we the of so of think I is that

So that change a do see pattern? you in

Martin Gilligan

written No, are dictated for we're and not bit scripts the little the allow, general, days, scripts some is XX. change. that's seeing of health some or most XX there Yes, require different are mostly than either a it's really that they by a for XX or but Thanks. but lot so more plans that's are days. in But of XX maybe there what driven by and that. A

Annabel Samimy

need prescribe feeling plans more this as one. this. to driven opposed by opposed for to use We So two months okay, it's confident can as physicians you health that, to

Martin Gilligan

upon refills. write it go you combination. to mean, depends today, to your a how doctor if I it's they were Yes,

the allows. So plan that's And number is one. number step two what step then

Annabel Samimy

trying and on more patterns last way? Is like third to there, noticed one don't quarter, being thought as you that you to because you're the I analysis initiate you as an And going a the question. in bit it trial maybe needed that already used or to label were little trial looks additional Are do that I need it needed the of that get it's basis on the usage. thinking on then

Terrie Curran

Annabel, Terrie. I'll Yes, it's question. take that

couple ROI on want indication So, data months evaluating to spend real-world good just that since approved, utilization. And evaluating we the non-erosive been we of a we had we've that to ensure get that trial. really

seen on-demand So is what we'll number of results on-demand then have couple ACG, were we presented have that recommendation. the published next a incorporates that of that. even at papers phase and physician two over into months, been the evaluate the And

response. seeing profile from hearing physicians that it they we're really So rapid clinically. the They're the

And with really so we to before evaluate proceed that. that we data just want

Operator

Our or of Goldman next line Choi question the comes from Paul comment from Sachs.

Kyuwon Choi

is Molly. question for My first

points? thinking on for maybe thinking comment second If of number of would latest net any status of you covered. can that non-infectious XXXX, my gain maybe in your factors application there the on or of guess the a are GERD? be the gives ongoing question helpful. And there guess coverage just as I is, Terry NERD covered given you'd insurance and of under I What for will disease sort us uptick of what any Linaprazan update your And sort on expansion sort the you're discussion or application Molly lives color such you monotherapy? erosive into gaining gross be that conviction

Molly Henderson

which sure, So range are pre-launch, XX% was we the is coming, discount. of the to in to relates the expected range it XX% coming results as right what GTN,

over So next if within into do that we're as said, that range, and pointed then we can we to expect range period going but that math, within you variability And into of holiday inclusion expected. that with all to still tighten expect the that range. Because where being right non-erosive, within couple plans be right might the going with you see to we next QX health stay changing a and year. we're we out continue But calculate quarters. the you

Terrie Curran

Paul its orange book. question Terrie, I'll regarding take the your

be updated discussions the exclusivity QIDP received XX NCE book. yes, of years for the with reflected the that were the approved book ultimately, products. in And continue So orange packs we we to combo should molecule regarding FDA as the believe the full firmly to reflect listing are the VOQUEZNA exclusivity in orange when that's engaged

accept the as stands And position. best if orange the currently material of progress council assumption regulatory we'll path should until should protect this FDA any provide side. does updates the ensure the replication our external in our confident And So XXXX. we're we're report. But not in to a our to We're the have nothing under exclusivity from has changed from into And any book. generic operating believes the XXXX. in generic FDA from the we evaluating reflect now, that forward very VOQUEZNA that still process entries it that

Operator

question or from next comment Our Company. from comes Joseph of line the Stringer & Mr. Needham

Joseph Stringer

Can for in on seeing overall what how compare what rates? prescription to seen does is you comment terms you're PPI's? typically refill of say And this

Martin Gilligan

Joey, rate in refill rate, seeing you. Yes, a large so and increase really it we've the going right to the so I the I is new share comments, say, us healthy in and just is and don't will writers, direction. have of what that which business write my more specific kind with echoes seen a really we're tells But physicians

take look that would we're to more. And reflect, haven't that you write, as yet, writers, on they're have the healthy you had But and that know those we're that track is patients are in started just prescription we seeing the said, and we at in at the see for opportunity that the writing PPI going as So when back that have coming do And earlier to launch they after started on refill new and at you expect market. rates the to looking you a and month month, what what are refills do looking that's all persistency. board. do

good are. we where we really feel So about

Operator

Yatin next line Our from comes from the of Guggenheim. or Suneja comment question

Yatin Suneja

comments of maybe sort Could from talk to couple we about a you able one. any about monitor how Are you should there? therapy? and me. So of compliance Just that's duration think

finally, Second demand discount, think establishing to Blink, think IQVIA and maybe is And gross that little XX-XX%. or least of there. assume issues in retail math sort we at I next one-time to on I correct? that with retail think year, split specifically going it that do if thoughts be XX-XX about they a then get a I or that regard is how between to should versus gross the guidance? talk we thinking of, could is about about on Is bit, Or of about QX have any which establishing evolve, demand,

Martin Gilligan

I'll of order caught them it over turn and in you cover then not that I couple to had maybe those the a and them, Molly. then

So a I duration, on what I question. little of the think Joey's this speaking bit is was to first the

we're with what with persistency get tracking patients consistent long now PPI. that what how to And they drugs, be right seeing is very happening we're the So are on? is when and

always that was that, but of and And we than on to XXX an as no it's be less annual said right basis. believe we've somewhere that So days are percent the And now we therapy Blink to another call continue to or part question, XXX mentioning reason that going between of study going through it as are I earlier. that of Terrie I the Blink. then conversion, think that your was scripts it the have

of only through BlinkRx moved IQVIA the being balance by we earlier, commented early from cash. XX% captured or about prescriptions and on was the going As

just is And what's time it said progressed we that here, on was we that So over access evolve. came for had of really board, retail. traditional us let's getting call actually quarters utilization support XX% that's would, going cash. And to less like exactly the down We've we to really move sequential through cash see cash. patient XX% of would going as through of and

So It'll we as that flow move through we're progress. continue on. to making

regarding raise next do year. point a You good QX though

to this earlier. was little company for Things and Molly in every alluding a I QX bit every brand. think change

rebounds. a that just quarter You in prescriptions on the in early then typically see and dip

need their would expect say the changing that as something industry. have follows patients it reason that dip in the patients resetting. probably for the are either trends it. And are happens deductibles I be what is, We So the obviously we will BlinkRX because is they option plans cash or

bit that's common over you, leave it growth I for for big for turn at burden of is be But XXXX little going can every what tell to I on. I to feel and is, just us. a there's what early I'll But Molly patients is company. before this it So year a about overall do certain

Molly Henderson

comfortable as feel in guidance, year guidance it confident as XX as we're We make relates we put yes, consensus. want And to to revenue. to out whatever relates that sure very continue it relates to full so to it we

continue monitor put when we'll guidance comfortable do it's sure with. So can feel make trends we that very something to out something and we it's

rest with this point consensus. feel So, the to this that continue at we we'll XXXX of comfortable for current full year, year the reiterate

Yatin Suneja

Is on of And getting XX% We're any that that the gross XX%, for net we about line? did? comment in retail. sort

Molly Henderson

sure, net, gross yes. Yes,

we stay out, to that asked, right as to As discount. range. that within provided the And you XX% other which at to question within we're XX% the range we continue that expect pre-launch, was point

We the next expect some beginning going of volatility year. into

believe indicated, to we'll we range. I As but that within stay continue

Operator

Our next of comes Craig-Hallum. Chase question the Knickerbocker from from comment or line

Chase Knickerbocker

So, again, days care with I of your the you from awareness primary you Would NERD are in care? What quarter. a kind that maybe early for do yet? still seeing it's just on standpoint of guess obviously feel level thoughts you level think within really And demand there, love there? from seen haven't care kind me, Do like and Martin. you boost very primary it's launch from the early your starting very just of first primary a days

Martin Gilligan

coming for primary certainly that was a big I'll we non-erosive always care said it's true. tell going player So, you, be to had and

You hit One is awareness. pieces. three on

you We care. they lesser something was launched, think gastroenterologists awareness amongst coming in if about And we was have my grow it, and as I earlier knew care. when primary primary and seen knew PCABs that comments, mentioned about

in the that physicians force seen our to our VOQUEZNA a seen also We've awareness sales grow. of place number talking general we've in been has So prescribers. of PCP pop since

in primary actually new writers care have writers overtaken the gastroenterologists. Our in new

seeing I the the rapid in So that they relief. tell uptake that or these you, say rapid they're can I the should symptom is the some results are met mentioned actually And Terrie durability, physicians, having durability, actually earlier of VOQUEZNA. the welcoming effect in

we're So definitely boost continue. seeing that boost the will and

Chase Knickerbocker

of, specific then And then comping little tracking kind care level far with your ordering how you're there early guidance as think kind XXXX I Martin, that position time XXXX. of perspective in give reps, full you year kind visibility awareness primary you maybe kind that guidance? to last business kind able next year, on of will from them or like that from just guess, guys that be with into a a be of just territories. PCPs would you'll about Molly bit, to within a for the metrics thoughts just success When me their that be kind of do And of to your you're comes physicians as any one sales potential

Martin Gilligan

sales So the what ground primary with including continues you all receive? who do messages with to can focus then force general obviously those we feedback the tell of as prescribers we're working and or our is we the following on really we they metrics, then them, increase they're intended is But of they seeing, doing I in And that providing taking then as what's targets them to we brands frequency those physicians for the and what awareness also our getting with I tracking brand. just are Molly? seeing across mentioned And aware do up And which earlier, care. good. direction their feel happening. or and to most as we're intended them, are on with physicians

Molly Henderson

of We'll it whatever we so as good been to script the But we're seeing to for still we've nice got pointed it's a now, and because that But early in achieve it's and trends range once really trends that the in provide want data. something months impact guidance that I of you would and we so XXXX, the out on make non-erosive provide. continue more see want do. the the want can we relates sure we market sure that focused we four we only we the make to something as Yes, we're visibility range months Chase, and to certainly non-erosive, we're in confidence put before some on guidance. to really guidance expect out, several

Operator

[Operator Instructions].

Evercore question comment of next Umer ISI. Raffat or from comes line the Our from

Chengxiang Liu

on This on is the A questions, I few for if Umer. Chengxiang Congrats may. quarter.

it's on about in the the more lastly, XX% how currently a molecule. so The is is the of the longer in milligram early, secondly, seen rate XX% to indication? you I know the NERD the quarters. color fill there but the last from know reporting is much the And first inflection total few the XX what dose launch. NERD still one quarter? And prescription, is increase this tied but on clear I could is written volume of on IP, around give from you're after QIDP fill no trend rate we've

confirm just five-year another that to want on indication you So even get if the new give you does QIDP, it exclusivity. not

Martin Gilligan

we be tell the Because we that is right? tracking are shared we're can you metrics and out right good it commercial the metric time, really TRxs, look temporary, as that point, had very access. we at in feel yes, do that what to that But all, that fill out, launches. access, of In we successful a both I grow key the the with because a you I the thing key about in feel in to of be we've said the and we it and dropped growth we with continues to And terms is at metric always XX%, as had at to can XX% that on. that intended the this would was now tell only to So that rate, growth you reporting. prescribing we're prescribers. What reporting you you it, are called levels physician excess consistent the

an remind specifically non-erosive, can really, of milligram that. majority. up a I'm have the we non-erosive, ICD-XX directly that answers but tieback definitely codes, it's XX also approval for the but And milligram. I uptake to hopefully to the used of question, we non-erosive. So tied the also don't We making be will know believe, entire milligram then XX that you upon seen, inflection, And have feel I sure got not non-erosive. we XX it's we yet tied it's but Terrie? that specifically by immediate

Terrie Curran

Yes, applied chemical regulatory the royalty, NCE QIDP then for the the was and the years five years regarding for then to VOQUEZNA [indiscernible] entity. and is VOQUEZNA five so exclusivity,

XX that's years get XXXX. to So to

Operator

line Matthew Caufield from of question Wainwright. H.C. from comes last the Our

Matthew Caufield

Just one follow-up from us.

So thinking side even same smaller prescriber care? And onto erosive those a more of patients has broadly, label? change are as to there versus there any non-erosive of Clearly, part ultimately potential gateway understandably, prescriptions? that's in observations from your or standard of pylori but engagement the been getting focus, a H. any the

Martin Gilligan

our business, on but So on that clearly, question large to focus we to the answer so market's that. pylori, tend the H. GERD important it's for

we action. into So acid it's of suppressant, I part of would to of tie say to that an pylori that is question what ties ultimate really demonstrates H. for and that, your benefits that tend we it a your physicians, for of really overall message potent last GERD. it so It's the payoff speak when in that kind works mechanism has the

flip physicians, have of H. preferred are the GERD. do non-erosive. eradicated So terms they who it's pack. or might are that's healed pylori afterwards physicians into And tied patients treatment, to they dual in how is in continue patient if to starting non-erosive be see are a are to their there that triple But the and some adopt are that we when infection as there their fact both that over they using

it's that. to treatment of it's the made driving a and the brings the welcome is VOQUEZNA think differentiation So pylori I I that H. addition, think that

Eric Sciorilli

program. Thank and This Q&A This the concludes in Ladies conference. you participating much. gentlemen, thank the today's for session. concludes you very

now disconnect. have wonderful Everyone a You may day.

Phathom Pharmaceuticals (PHAT) 7 Nov 242024 Q3 Earnings call transcript