Phathom Pharma up after submitting additional data for acid blocker drug

Phathom Pharmaceuticals

21/08/2023 15:43

** Phathom Pharmaceuticals' shares  PHAT.O  rise 1.9% to $15
    ** Drug developer submits stability data for co's
reformulated vonoprazan tablets, being developed to treat a type
of gastrointestinal disease 
    ** Additional stability data provided by the company to U.S.
FDA after receiving complete response letter in February
    ** U.S. FDA declined to approve the experimental drug, 
citing the need for more data to show levels of impurity found
previously in drug will remain at or below daily acceptable
intake throughout proposed shelf life of the product 
    ** Six-month stability data remains more than 10 times below
the acceptable intake limit set by the U.S. FDA and continues to
support the requested product shelf life, the company said 
    ** FDA is set to decide on the drug by Nov. 17
    ** Including session gains , stock up ~34% YTD

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))