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Phathom Pharmaceuticals CFO Molly Henderson sells $10,328 in stock

Published 21/12/2024, 08:26 am
PHAT
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Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Chief Financial Officer and Chief Business Officer Molly Henderson recently sold a portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, Henderson sold 1,291 shares of common stock at a price of $8.00 per share on December 19, 2024. This transaction totaled $10,328. The sale comes as PHAT shares have declined nearly 34% over the past six months, with InvestingPro data indicating the stock is currently in oversold territory.

The sale was conducted to satisfy tax withholding obligations upon the settlement of restricted stock units. Following this transaction, Henderson holds 98,156 shares directly. Additionally, she has an indirect ownership of 1,911.27 shares through a 401(k) plan. While the company faces cash burn challenges, InvestingPro analysis shows strong liquidity with a current ratio of 5.73, indicating adequate resources to meet near-term obligations. Get access to 8 more exclusive InvestingPro Tips and comprehensive financial metrics to better understand PHAT's market position.

In other recent news, Phathom Pharmaceuticals continues to make strategic moves. The company's product VOQUEZNA, which includes vonoprazan tablets, is seeking to extend its exclusivity period until May 2032, as stated in a Citizen Petition to the FDA. This move is backed by H.C. Wainwright, which maintains a Buy rating for Phathom.

Additionally, the company reported significant revenue outperformance in its third-quarter earnings, mainly driven by VOQUEZNA. The net revenue of $16.4 million for VOQUEZNA surpassed both analysts' and consensus estimates, attributed to the robust growth in Erosive Esophagitis treatment and increased demand following the expansion of VOQUEZNA's label to include Non-Erosive Reflux Disease.

Phathom Pharmaceuticals has also announced a public offering expected to generate gross proceeds of about $130 million, with the net proceeds to be allocated for the commercialization and further clinical development of Vonoprazan.

In response to these recent developments, both Guggenheim and Goldman Sachs (NYSE:GS) have shown a positive stance on Phathom Pharmaceuticals, reiterating a Buy rating and increasing the price target respectively. However, the company is still awaiting further clarity on the exclusivity of VOQUEZNA. Analysts project a 74% revenue growth for the current fiscal year, despite the company not being expected to turn profitable this year.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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