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Esophagitis is inflammation, irritation, or swelling of the esophagus lining, which is the tube that runs from the throat to the stomach.
Vonoprazan met its primary non-inferiority endpoints in both healing and maintenance phases.
Vonoprazan demonstrated superior healing rates in patients with moderate-to-severe disease at Week 2 versus lansoprazole (Prevacid), a proton pump inhibitor.
Vonoprazan demonstrated superior maintenance of healing in all patients and patients with moderate-to-severe disease versus lansoprazole at Week 24.
A marketing drug application submission is planned for H1 2022, targeting healing of all grades of EE and relief of heartburn and maintenance of healing of all grades of EE and relief of heartburn.
The PHALCON-EE data provides Phathom with an additional $50 million from its term loan facility with Hercules Capital.
As of September 30, 2021, Phathom had approximately $225 million in available cash and cash equivalents, exclusive of the additional $50 million available from the term loan facility.
Price Action: PHAT shares are up 2.43% at $33.30 during the premarket session on Monday's last check.
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