Phathom Pharmaceuticals Inc Q3 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Annabel Samimy - Stifel Institutional - Analyst : Hi, everyone. Thanks for taking my questions and congratulations on this great uptick. So just to want to try to clarify a little bit, your coverage uptake was really impressively rapid. And so, to what extent is the increased prescriptions from the actual access because clearly you had blink versus the uptick that you might have expected from the non-erosive GERD indications. It, you know, in other words, this is the inflection that we should start seeing from this nerd indication that we have. And what percent of prescriptions is now? 60 days?

Question: Annabel Samimy - Stifel Institutional - Analyst : Yeah. I thought so I think one of the things that we noted is that some of the prescriptions are 60-day prescriptions. So, do you see a change in in that pattern?

Question: Annabel Samimy - Stifel Institutional - Analyst : Thanks. Okay, so it's more driven by health plans as opposed to you know, physicians feeling that, okay, you need to use this, we can prescribe this for two months as opposed to one. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 07, 2024 / 1:30PM, PHAT.OQ - Q3 2024 Phathom Pharmaceuticals Inc Earnings Call

Question: Annabel Samimy - Stifel Institutional - Analyst : Okay. Got it. I noticed that I thought you're going to initiate the as needed trial in the third quarter, and it looks like you're trying to do a little bit more analysis on the patterns of usage. Are you thinking that maybe you don't need that additional trial on an as needed basis or to get it on the label because it's already being used that way?

Question: Annabel Samimy - Stifel Institutional - Analyst : Okay, great. Thank you so much. Congratulations again.

Question: Paul Choi - Goldman Sachs - Analyst : Hi. Thank you and good morning. Thanks for taking our questions and congrats on the progress. My first question is for Molly. If you maybe just sort of comment on your latest thinking on gross to net given the expansion in insurance coverage and number of lives covered, I just, I guess any uptick that you're thinking of going into 2025, any color there would be helpful. And my second question maybe for Terry is can you update us on the status of your gain application for when I present monotherapy? What are sort of the gating factors. There are sort of ongoing discussion points and I guess what gives you conviction that the moi will be covered under a non-infectious disease application such GERD or erosive GERD? Thank you very much.

Question: Paul Choi - Goldman Sachs - Analyst : Great. Thank you very much.

Question: Yatin Suneja - Guggenheim Partners - Analyst : Hey guys, good morning. Can you hear me? Yes, very good. Congratulations on very solid quarter. Just a couple from, from me. Could you maybe talk about how we should think about duration of therapy? Are you able to monitor sort of compliance and any comments there? So that's second is with regard to gross to net. I think if we, if we assume 70/30 split between retail or IQV versus link, I think we get to about the gross to net discount, at least on the retail of about 55%, 56%. Is that sort of it is not, correct? Could you maybe talk about that and, how it should evolve specifically in Q1 of next year, which I think generally we were a little bit. We do have that one time issues there. And then finally, any thoughts on establishing or thinking about establishing guidance? Thank you.

Question: Yatin Suneja - Guggenheim Partners - Analyst : And any comment on the gross math that we did is that sort of in line? So, we are getting a little about 55%, 56% for retail. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 07, 2024 / 1:30PM, PHAT.OQ - Q3 2024 Phathom Pharmaceuticals Inc Earnings Call

Question: Chase Knickerbocker - Craig-Hallum Capital Group - Analyst : Good morning and congrats on the you know, really impressive, continued progress here. So, I guess just first for me, maybe just starting on kind of primary care with, you know, obviously the nerd launch in the quarter. Do you feel like it's still very early days from a standpoint of kind of your awareness level within primary care? What are you seeing from a demand, a demand level there? And you know, again, do you think it's very early days? And we really haven't seen that boost from primary care yet. I would love your thoughts there, Martin.

Question: Chase Knickerbocker - Craig-Hallum Capital Group - Analyst : Great. And then maybe just a little bit Martin about how you're tracking success there with your sales reps, any kind of, you know, specific metrics that your kind of comping them to as far as that awareness level with, with PCPs or just kind of like ordering primary care physicians within their territories. And then the last one for me to Molly would just be kind of, I guess, thoughts on potential guidance for 2025. You know, when that time comes kind of early next year, do you think that you guys will be in a position from a visibility perspective into your business that you'll be able to give kind of 2025 full year guidance. Thank you.

Question: Matthew Caufield - HC Wainwright - Analyst : Thank you. And congrats on the commercial progress. Just one follow up from us. So, thinking more broadly, are there any observations from the H Pylori side of the label? Clearly that's a smaller part of your focus, understandably. But has there been any change in prescriber engagement for standard of care and even as a potential gateway to getting those same patients ultimately onto erosive or non-erosive prescriptions?

Question: Matthew Caufield - HC Wainwright - Analyst : Helpful guys. Thank you and congrats again.