Phathom Pharmaceuticals (PHAT) stock surged 6.43% in pre-market trading following the release of its impressive third-quarter 2025 financial results. The pharmaceutical company significantly outperformed analyst expectations, demonstrating strong growth and improved financial health.

The company reported Q3 revenue of $49.5 million, beating the consensus estimate of $46.5 million and marking a substantial 25% increase quarter-over-quarter. This growth was primarily driven by a 28% rise in filled VOQUEZNA prescriptions, supported by strategic sales force retargeting efforts. Phathom's adjusted earnings per share (EPS) also exceeded expectations, coming in at -$0.15 compared to the estimated -$0.56.

In light of these strong results, Phathom Pharmaceuticals has updated its full-year 2025 revenue guidance to $170-$175 million, up from the previous range of $165-$175 million. The company also reported significant cost savings, with cash operating expenses down 43% quarter-over-quarter, aligning with its cost-saving plans. These factors, combined with stable commercial coverage for over 80% of U.S. lives, have contributed to the positive market reaction and heightened investor confidence in Phathom's growth trajectory.