Phathom Pharmaceuticals stock starts a new Phase 3 trial

Published on 10/05/2026 at 21:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Phathom Pharmaceuticals stock was last at USD 6.72 on October 5, 2026, down 2.87 percent. Q2 revenue reached USD 74.3 million, up 88 percent year over year.

PHAT, US71722W1071, Illustration mit AI erstellt.

Phathom Pharmaceuticals stock (ISIN US71722W1071) was last at USD 6.72 on Nasdaq on October 5, 2026, down 2.87 percent from USD 6.92. The company is advancing a new Phase 3 test of VOQUEZNA for as-needed treatment of non-erosive GERD, according to GlobeNewswire on September 29, 2026.

VOQUEZNA enters a new trial

Patient screening has begun in pHalcon-NERD-302, a registrational Phase 3 study evaluating VOQUEZNA, or vonoprazan, as an on-demand treatment for adults with non-erosive GERD. If successful, the program could support a regulatory submission for a label expansion, the company said in the September 29 release linked above.

The randomized study uses VOQUEZNA 10 mg or placebo as needed for 24 weeks after a four-week run-in period. Its primary endpoint is assessed at Week 12 and measures the percentage of heartburn episodes producing complete relief within two hours and sustained relief for 24 hours, according to Investing.com on September 29, 2026.

Revenue growth meets execution risk

Phathom's commercial base is already producing measurable scale. In its second-quarter 2026 update, Phathom Pharmaceuticals reported record net revenue of USD 74.3 million, up 88 percent from Q2 2025 and 27 percent from Q1 2026.

The same update cited 1.7 million total VOQUEZNA prescriptions filled to date and second-quarter operating expenses of USD 63.1 million, down 33 percent year over year. The comparison matters because the Phase 3 program adds a future growth option while the company continues to commercialize approved gastrointestinal treatments.

Analysts see a wide valuation gap

MarketBeat lists a Moderate Buy consensus based on nine analyst ratings, including one Strong Buy, six Buys, one Hold and one Sell, with an average price target of USD 21.25. Against the USD 6.72 Nasdaq price on October 5, 2026, that target lies 216.2 percent above the price, according to MarketBeat in its October 2, 2026 report.

The range of views is material: Leerink Partners initiated coverage at Market Perform with a USD 10.00 target on September 9, while the consensus remains well above the current quote. The stock's 52-week range is USD 2.21 to USD 18.31, placing the October 5 price 204.1 percent above the low and 63.3 percent below the high.

PHAT remains below its yearly high

Phathom Pharmaceuticals was last at USD 6.72 on Nasdaq at 3:24 p.m. ET on October 5, 2026. Its market capitalization was USD 543.7 million, and trading volume stood at 652,322 shares.