Shares of Phathom Pharmaceuticals (NASDAQ: PHAT) soared over 5% in pre-market trading today, following the company's release of its third-quarter 2024 financial results that handily beat Wall Street expectations.
For the quarter ended September 30, 2024, Phathom reported an adjusted net loss of $1.05 per share, significantly better than the consensus analyst estimate of a $1.50 loss per share. The company's revenue came in at $16.352 million, surpassing the $12.609 million analysts had projected.
The strong quarterly performance appears to have fueled investor optimism, driving Phathom's stock higher in early trading. The biopharmaceutical company's ability to exceed earnings and revenue forecasts signals its continued growth trajectory and strengthening financial position.
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