Phathom第三季度净收入8,470万美元同比增71% 净亏损收窄至1,390万美元、VOQUEZNA累计处方逾200万张
胃肠疾病药物公司 Phathom Pharmaceuticals, Inc.（Nasdaq: PHAT）10月29日公布2026年第三季度业绩：净收入8,470万美元，较去年同期的4,950万美元增长71%，较第二季度增长14%。
增长来自其商业化策略的持续执行。公司旗舰产品 VOQUEZNA 自上市以来累计处方量已突破200万张（截至10月16日）；第三季度处方约38万张，其中医保覆盖处方约24.8万张、自费处方约13.2万张，覆盖处方量环比增长约19%。
当季净亏损收窄至1,390万美元，去年同期为3,000万美元；非 GAAP 调整后净利为300万美元，去年同期为调整后净亏损1,120万美元。公司连续第二个季度实现经营现金流为正，截至9月30日现金及现金等价物为1.846亿美元。
总裁兼首席执行官 Steve Basta 表示，公司继续加深 VOQUEZNA 在胃肠专科医生中的处方深度，并推出多项举措让医生更容易开方、患者更容易取药，包括通过药房伙伴 BlinkRx 推出的新共付方案，符合条件的商业保险患者最低可零自付。
公司重申2026年全年指引：净收入3.10亿至3.25亿美元、毛利率约80%。临床方面，VOQUEZNA 用于非糜烂性胃食管反流病按需治疗的三期注册研究已于9月启动首例给药，嗜酸性食管炎二期研究预计第四季度公布顶线结果。Phathom 总部位于新泽西州 Florham Park，持有 vonoprazan 在美国、欧洲与加拿大的独家权利。
Phathom Q3 Net Revenue Rises 71% to $84.7 Million, Net Loss Narrows to $13.9 Million as VOQUEZNA Prescriptions Top 2 Million
Gastrointestinal drug maker Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT) on October 29 reported results for the third quarter of 2026. Net revenues were $84.7 million, up 71% from $49.5 million in the third quarter of 2025 and up 14% from the second quarter of 2026.
The increase reflected continued growth from the company's commercial strategy. Total VOQUEZNA prescriptions filled since launch surpassed 2 million through October 16, 2026. Approximately 380,000 prescriptions were filled in the third quarter, including about 248,000 covered prescriptions and 132,000 cash-pay prescriptions, with covered volume up about 19% sequentially.
The quarterly net loss narrowed to $13.9 million from $30.0 million a year earlier, while non-GAAP adjusted net income was $3.0 million, compared with an adjusted net loss of $11.2 million a year earlier. Phathom generated positive operating cash flow for the second consecutive quarter, and cash and cash equivalents stood at $184.6 million as of September 30.
President and Chief Executive Officer Steve Basta said the company continues to grow VOQUEZNA prescribing depth among GI providers and has implemented initiatives to make it easier for physicians to prescribe and patients to obtain the treatment, including a new copay offering through pharmacy partner BlinkRx under which eligible commercially insured patients may pay as little as $0.
Phathom reaffirmed its full-year 2026 guidance for net revenue of $310 million to $325 million and a gross margin of about 80%. Clinically, a registrational Phase 3 study of VOQUEZNA for as-needed use in non-erosive GERD began dosing in September, and topline results from a Phase 2 trial in eosinophilic esophagitis are expected in the fourth quarter. Headquartered in Florham Park, New Jersey, Phathom holds exclusive rights to vonoprazan in the United States, Europe and Canada.
来源：GSM·美国（原文链接）
图片来源：图：药房工作人员使用自动数片机装填处方药瓶（资料图）。美国空军照片，Airman Trevor Calvert 摄，公共领域，经 Wikimedia Commons。 / A pharmacy worker fills a prescription bottle using an automated pill counter (file photo). U.S. Air Force photo by Airman Trevor Calvert, public domain, via Wikimedia Commons.
