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PHAT

Phathom Pharmaceuticals

$25.80

0.8 (3.20%)

08:41
12/02/19
12/02
08:41
12/02/19
08:41

Phathom Pharmaceuticals initiates Phase 3 PHALCON-EE trial

Phathom Pharmaceuticals announced the initiation of PHALCON-EE, the company's pivotal Phase 3 clinical trial of vonoprazan for both the healing and maintenance of healing of erosive esophagitis, or EE, as well as the relief of heartburn. PHALCON-EE is a randomized, double-blind, two-phase, multicenter Phase 3 trial that is planned to enroll approximately 1,000 patients with EE in the U.S. and Europe. The first phase of the trial will evaluate the efficacy and safety of vonoprazan 20 mg administered once-daily compared to lansoprazole 30 mg for the healing of EE for up to eight weeks.

PHAT Phathom Pharmaceuticals
$25.80

0.8 (3.20%)

11/19/19
JEFF
11/19/19
INITIATION
Target $32
JEFF
Buy
Phathom Pharmaceuticals initiated with a Buy at Jefferies
Jefferies analyst David Steinberg initiated coverage of Phathom Pharmaceuticals with a Buy rating and $32 price target. He said the company's lead asset, vonoprazan, is "unusually de-risked" after having already achieved commercial success in Japan and he believes the drug could achieve peak sales in the U.S. of over $1B, assuming successful Phase 3 readouts in 2021.
11/19/19
NEED
11/19/19
INITIATION
Target $40
NEED
Buy
Phathom Pharmaceuticals initiated with a Buy at Needham
Needham analyst Alan Carr initiated coverage of Phathom Pharmaceuticals (PHAT) with a Buy rating and $40 price target. The analyst is positive on the company's development of vonoprazan, a "novel oral potassium-competitive acid blocker for the treatment of Erosive Esophagitis and H. pylori infection", noting that its 2015 launch by Takeda (TAK) in Japan has demonstrated benefits over standard of care proton pump inhibitors in both indications. Having licensed the rights from Takeda, the analyst adds that the company's initiated Phase 3 trials in Erosive Esophagitis and H. pylori infection for registration in the U.S., Canada, and Europe, projecting a U.S. launch in 2022 and and U.S. peak sales of $1.9B-$2.0B in 2032.
11/19/19
11/19/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Shake Shack (SHAK) initiated with a Neutral at Baird. 2. L3Harris Technologies (LHX) initiated with an Overweight at Alembic Global. 3. Phathom Pharmaceuticals (PHAT) was initiated with a Buy at Jefferies and Needham and a Neutral at Goldman Sachs. 4. Cabaletta Bio (CABA) initiated with an Outperform at Cowen and Evercore ISI as well as an Overweight at Morgan Stanley. 5. Agenus (AGEN) resumed with a Buy at B. Riley FBR. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/19/19
EVER
11/19/19
INITIATION
EVER
Outperform
Phathom Pharmaceuticals initiated with an Outperform at Evercore ISI
Evercore ISI analyst Umer Raffat initiated coverage of Phathom Pharmaceuticals with an Outperform rating.

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