Molly Henderson, Chief Financial Officer and Chief Business Officer of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a $484 million market cap biotech company currently trading at $7.17, recently sold a portion of her common stock holdings in the company. According to InvestingPro analysis, while the company maintains strong liquidity with a current ratio of 5.73, it faces significant cash burn challenges. According to a recent SEC filing, Henderson sold 6,583 shares on January 21, 2025, at a weighted average price of $6.5883 per share, totaling approximately $43,370. This transaction was conducted to satisfy tax withholding obligations upon the settlement of restricted stock units. Following this sale, Henderson holds 93,546 shares directly, with an additional 1,911.27 shares held indirectly through a 401(k) plan. The stock, which has seen significant price decline over the past three months, currently trades below its Fair Value, suggesting potential upside according to market valuations.
In other recent news, Phathom Pharmaceuticals has been making significant strides. The company's third-quarter earnings reported a notable revenue outperformance, primarily driven by its drug Voquezna. The net revenue of $16.4 million for Voquezna surpassed both analysts' and consensus estimates. This increase was attributed to the robust growth in Erosive Esophagitis treatment and a surge in demand following the expansion of Voquezna's label to include Non-Erosive Reflux Disease.
Phathom Pharmaceuticals also announced a public offering expected to generate gross proceeds of about $130 million. The net proceeds will be allocated for the commercialization and further clinical development of Vonoprazan, marketed in the U.S. as Voquezna.
In addition, the company recently filed a Citizen's Petition with the FDA, seeking alignment of the exclusivity period for its VOQUEZNA tablets with that of the VOQUEZNA Dual and Triple Pak, currently set at 10 years. This decision was made based on the advice of legal and regulatory consultants who believe that VOQUEZNA tablets should legally receive the same 10-year exclusivity as the VOQUEZNA Paks.
Following these developments, H.C. Wainwright, Guggenheim, and Goldman Sachs have all maintained a positive stance on Phathom Pharmaceuticals, reiterating buy ratings and price targets. Analysts project 74% revenue growth for the current fiscal year, though the company is not expected to be profitable this year.
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