Phathom Q2 Revenue Beats, Hits First Operating Profit; Guidance Trimmed
PHAT sits 41% above its 52-week low of $8.025.
Summary
Phathom delivered a strong Q2 with revenue of $74.3M, up 88% YoY and beating the $72.8M consensus. The company achieved its first quarter of operating profitability excluding stock-based compensation, driven by Voquezna prescription growth and a 33% drop in operating expenses. However, full-year revenue guidance was trimmed to $310–325M from $320–345M, which may temper enthusiasm. The stock closed at $11.64 yesterday, well below the $25.50 analyst median target. The earnings release follows the 8-K filed this morning; the beat and profitability milestone are incremental positives, but the guidance cut is a new headwind.
At the time of this announcement, PHAT was trading at $11.30 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $928.4M. The 52-week trading range was $8.03 to $18.31. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.