Phathom Pharmaceuticals

Phathom Pharmaceuticals is a commercial-stage biopharmaceutical company built around vonoprazan, a first-in-class potassium-competitive acid blocker (P-CAB) it licensed from Takeda in 2019 for the U.S., Europe and Canada. Its lead product, VOQUEZNA, won FDA approval in late 2023 - the first major innovation in U.S. GERD treatment in over 30 years - and is sold for non-erosive and erosive GERD plus H. pylori infection via its DUAL PAK and TRIPLE PAK regimens. The company reached $175.1 million in net revenue in 2025 and expects operating profitability in 2026.