Phathom’s leadership redirected the sales force in 2025 from a broad primary care approach to gastroenterologists, citing that high-need GERD patients in GI practices are more likely to require Voquezna therapy changes. This targeted shift seeks to engage early adopters and improve prescription conversion rates.

Following Voquezna’s November 2023 launch, Phathom reported $55 million in revenue for its first full market year in 2024 and forecasts approximately $175 million for 2025. The company expects to achieve operating profitability in the second half of 2026 as expense discipline tightens alongside revenue expansion.

Despite restructuring, Phathom maintained quarterly revenue growth and plans to fill open territories to reach a full-strength salesforce of roughly 300 representatives by the end of March. Cost-saving measures include reducing direct-to-consumer campaigns to focus resources on high-value GI engagements.

Phathom estimates gastroenterologists write about 20 million PPI scripts annually and aims to convert 20–30% of those to Voquezna, equating to 4–6 million prescriptions and roughly $1 billion in revenue. The pipeline includes a Phase II eosinophilic esophagitis trial and potential pediatric exclusivity extension to extend market protection through 2032 (+6 months).