Phathom to start Phase 3 as-needed VOQUEZNA trial in Q4 2026
Phathom reported record Q2 2026 revenue, updated full-year guidance, and set a fourth-quarter 2026 start for a new Phase 3 GERD trial plus EoE readout timing.
Phathom Pharmaceuticals said on July 30, 2026 that it plans to move VOQUEZNA into a new registrational study. Building on previously reported positive Phase 2 results, Phathom plans to initiate a registrational Phase 3 clinical program evaluating VOQUEZNA for as-needed (PRN) use in patients with Non-Erosive GERD (NERD).1 First subject enrollment for the planned Phase 3 trial is expected during the fourth quarter of 2026.1
In a separate program, Phathom completed enrollment in its Phase 2 pHalcon-EoE-201 trial evaluating VOQUEZNA in patients with Eosinophilic Esophagitis (EoE) in June 2026.1 Topline results from the 12-week blinded treatment portion of the trial are expected during the fourth quarter of 2026.1 If those results are positive, Phathom intends to discuss with the FDA potential future development plans in EoE, including pediatric evaluation that could potentially support a 6-month extension of regulatory exclusivity for VOQUEZNA.1
On the commercial side, approximately 1.7 million total VOQUEZNA prescriptions have been filled as of July 17, 2026, with roughly 325,000 filled during the second quarter, an 88% increase compared to the second quarter of 2025.1 Net revenue for the quarter was $74.3 million, an increase of 88% or $34.8 million compared to $39.5 million for second quarter 2025.1
The company updated its outlook: full-year 2026 net revenue guidance moved to $310-325 million from a previous range of $320-345 million, while non-GAAP operating expense guidance narrowed to $235-245 million from $235-255 million.1 Phathom said it continues to expect to achieve operating profitability for the remainder of 2026 and for the full year, excluding stock-based compensation.1
On cash, the company reported cash and cash equivalents of $182.5 million as of June 30, 2026, an increase of $1.6 million compared to the first quarter of 2026.1 Phathom said it believes cash on hand along with anticipated future cash generated from operations will be sufficient to invest in its business and satisfy all outstanding debt obligations without requiring additional debt or equity financing.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.