Phathom Pharmaceuticals Inc. reported net revenues of $49.5 million for the third quarter of 2025, reflecting a 25% increase compared to previous periods. The company updated its full year 2025 net revenue guidance to a range of $170 million to $175 million, up from the previous range of $165 million to $175 million. In terms of business developments, Phathom Pharmaceuticals implemented a new GI-focused call point strategy and realigned its sales territories to concentrate on gastrointestinal accounts. The company rolled out new target lists that now include nearly all gastrointestinal specialists, as part of efforts to generate greater depth with GI writers. According to IQVIA data, there are approximately 24,000 annual PPI writers and about 20 million annual PPI prescriptions as of October 2025.