Phathom Pharmaceuticals reports Q1 EPS ($1.07), consensus ($1.07)

Reports Q1 revenue $28.519M, consensus $29.02M. “2025 will be an inflection point for Phathom,” said Steve Basta, President and Chief Executive Officer of Phathom. “While continuing our focus on driving VOQUEZNA’s revenue growth, today we are also implementing a fundamental shift in how we operate, applying cost saving initiatives to support long-term growth without the need for additional equity or debt financing. In today’s challenging public market environment, marked by constrained access to capital and broader macroeconomic headwinds, companies must be more selective and strategic than ever in how they deploy their resources. We are focused on initiatives that deliver the greatest return, with our most valuable investment being the daily efforts of our sales organization. We’ve preserved sales force strength while scaling back in areas that deliver less near-term value. We are making difficult but necessary changes, including leadership transitions, a workforce reduction of approximately 6%, and significant cuts in external spend. These decisive actions are expected to reduce 2025 operating expenses by $60 to $70 million and bring anticipated quarterly spend below $55 million in the fourth quarter. Collectively, these efforts reinforce our financial position, keep us on track to deliver continued revenue growth, and position Phathom to achieve profit from operations, excluding stock-based compensation, in 2026.”