Phathom Pharmaceuticals, Inc.

We are a commercial-stage biopharmaceutical company focused on commercializing and developing new treatments for gastrointestinal (GI) diseases. Our approved products, VOQUEZNA®, VOQUEZNA® DUAL PAK®, and VOQUEZNA® TRIPLE PAK®, contain vonoprazan. Vonoprazan is an oral small molecule potassium-competitive acid blocker (PCAB), a class of molecules that block acid secretion in the stomach. VOQUEZNA is the only PCAB approved for marketing and sale in the United States. We began U.S. commercialization of VOQUEZNA for erosive gastroesophageal reflux disease (Erosive GERD) and Helicobacter pylori (H. pylori) infection, and VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK for H. pylori infection, in November 2023. The U.S. Food and Drug Administration (FDA) approved VOQUEZNA for heartburn associated with Non-Erosive GERD in July 2024. Vonoprazan was originally developed by Takeda Pharmaceutical Company Limited and is marketed in multiple countries outside the United States. We licensed U.S., European, and Canadian rights to vonoprazan from Takeda in 2019. We independently commercialize VOQUEZNA, VOQUEZNA DUAL PAK, and VOQUEZNA TRIPLE PAK in the United States. For the year ended December 31, 2025, we generated increased revenues from sales of our VOQUEZNA products compared to the prior year, with the majority of 2025 revenue from VOQUEZNA sales. During this period, we saw growth in prescription volume and prescriber adoption, with most prescriptions for GERD indications. As of February 13, 2026, over 1.1 million prescriptions for our VOQUEZNA products have been filled since launch. We have broad commercial coverage for VOQUEZNA, with access for over 120 million, or over 80%, of U.S. commercial lives.