Contradictions Unveiled: Analyzing the Impact of Citizen Petition Timelines and DTC Campaign Effectiveness in 2025 Q1

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Revenue and Operational Strategy:
- Phathom Pharmaceuticals reported net revenues of $28.5 million for Q1 2025.
- The company is implementing cost savings initiatives and expects operating expenses, excluding certain accruals, to be less than $55 million per quarter by Q4 2025.
- The reasons behind this are to manage expenses efficiently given the current capital markets and to focus on achieving profitable operations by 2026 without additional financing.

VOQUEZNA Prescription Growth and Market Share:
- As of April 11, there have been over 390,000 scripts filled by patients for VOQUEZNA since launch, with a 30% increase over the previous 8 weeks.
- The first quarter of 2025 saw approximately 127,000 filled prescriptions, equating to an 8% growth over the fourth quarter.
- The growth in prescriptions is attributed to the product's effectiveness in managing acid reflux and the company's primary patient support programs.

Cost Savings and Operational Changes:
- Phathom is halting its broadcast cable and streaming television promotion, which were the largest DTC spend categories.
- The company is reducing its workforce by approximately 6% through a reduction in force, focusing on core strategies with higher returns.
- These actions are part of the company's initiative to become profitable by 2026, given the current capital market conditions.

Citizens Petition and Exclusivity Timeline:
- Phathom is awaiting a response from the FDA to its Citizens Petition regarding QIDP status, with an expected decision by early June.
- The company is prepared to take appropriate next steps if necessary to maintain exclusivity until 2032, depending on the FDA's decision.
- The uncertainty surrounding the exclusivity timeline is seen as a crucial factor affecting the company's strategic planning and financial outlook.