The Phase 3 study is now enrolling, but topline data is not expected until Q1 2028 — no near-term catalyst. Monitor enrollment updates and any interim data readouts in future filings.
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Executive Summary
Phathom Pharmaceuticals announced the initiation of patient screening in pHalcon-NERD-302, a registrational Phase 3 study evaluating an as-needed (PRN) dosing regimen of VOQUEZNA (vonoprazan) tablets in adults with Non-Erosive GERD. Topline results are expected in the first quarter of 2028, and if successful, the study is intended to support a label expansion for VOQUEZNA. This is a routine clinical milestone with no financial data or near-term catalyst — the binary event is ~16 months away.
Key Facts
- Initiated patient screening in pHalcon-NERD-302, a registrational Phase 3 study for VOQUEZNA as an as-needed treatment in Non-Erosive GERD.
- Study is expected to enroll approximately 500 adults with Non-Erosive GERD at approximately 80 U.S. sites.
- Topline results expected in Q1 2028.
- Primary endpoint: percentage of heartburn episodes with complete relief within 2 hours and sustained relief for 24 hours, assessed at Week 12.
- Study builds on previously reported positive Phase 2 results.
Financial Impact
No financial figures disclosed in the filing.
Risk Factors
- Study may fail to replicate Phase 2 results or produce negative/mixed outcomes.
- Regulatory authorities may not deem results sufficient for label expansion.
- Slower-than-expected site activation or enrollment could delay timelines.
- Competition from other GERD therapies or safety/tolerability issues could impact program success.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-407696 |
| Document: 0001193125-26-407696-index-headers.html | 0001193125-26-407696 |
| Document: 0001193125-26-407696-index.html | 0001193125-26-407696 |
| Document: 0001193125-26-407696.txt | 0001193125-26-407696 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K | $5.50 | awaiting T+60 | — | $5.94 (−8.00%) |
Oct 23, 2026 3d ago | 8-K | $6.72 | awaiting T+60 | — | $5.94 (+11.61%) |
Oct 19, 2026 7d ago | Press Release | $7.01 | awaiting T+60 | — | $5.94 (−15.26%) |
Sep 29, 2026 27d ago | 8-K | $7.30 | awaiting T+60 | — | $5.94 (−18.63%) |
Jul 30, 2026 12w ago | 8-K | $9.03 $5.74 | ▼ −36.43% | ▼ −38.90% | $5.94 (−34.22%) |
Jul 30, 2026 12w ago | Press Release | $9.03 $5.74 | ▲ +36.43% | ▲ +38.90% | $5.94 (+34.22%) |
Jul 20, 2026 14w ago | Press Release | $10.65 | awaiting T+60 | — | $5.94 (−44.23%) |
May 20, 2026 22w ago | Press Release | $11.87 $9.58 | ▼ −19.29% | ▼ −24.30% | $5.94 (−49.96%) |
May 1, 2026 25w ago | Press Release | $12.01 $11.66 | ▼ −2.91% | ▼ −5.98% | $5.94 (−50.54%) |
Apr 30, 2026 25w ago | Press Release | $11.20 $11.95 | ▲ +6.70% | ▲ +3.59% | $5.94 (−46.96%) |
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