Phathom Pharmaceuticals appoints Ted Schroeder to board

FLORHAM PARK, N.J. - Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT), a biopharmaceutical company with a market capitalization of $219 million specializing in gastrointestinal treatments, announced today the addition of Ted Schroeder to its Board of Directors. Schroeder, a veteran in the biopharmaceutical industry, is recognized for his expertise in scaling commercial operations and launching new therapies. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, positioning it for potential growth initiatives.

With over 30 years in the sector, Schroeder has a notable history of leadership roles and accomplishments. He served as CEO of Nabriva Therapeutics until 2023 and remained on its board until March 2025. His career also includes co-founding Cadence Pharmaceuticals and leading it to a $1.4 billion acquisition by Mallinckrodt Pharmaceuticals.

Michael Cola, Chairman of Phathom Pharmaceuticals, expressed confidence in Schroeder’s capabilities to contribute to the company’s growth, especially as they expand the commercial reach of their novel drug VOQUEZNA®. Cola emphasized Schroeder’s track record in developing innovative treatments and his ability to enhance shareholder value. The appointment comes at a crucial time as InvestingPro analysis shows the company is actively investing in growth, with analysts maintaining a bullish consensus recommendation of 1.67 (where 1 is Strong Buy).

Schroeder’s experience extends beyond executive leadership; he has been a board member for several life sciences companies and industry groups, including Biocom California. His achievements were recognized when he was named EY Entrepreneur of the Year in 2014 for the San Diego region.

Phathom Pharmaceuticals focuses on developing vonoprazan, a first-in-class acid blocker marketed in the U.S. as VOQUEZNA® for conditions related to gastroesophageal reflux disease (GERD) and H. pylori infection treatments.

The information for this article is based on a press release statement from Phathom Pharmaceuticals.

In other recent news, Cidara Therapeutics reported a wider fourth-quarter net loss of $52.3 million, primarily due to increased research and development expenses related to its lead influenza drug candidate, CD388. The company did not report any collaboration revenue for the quarter, contrasting with $2.8 million from the same period last year. Despite this, Cidara ended the year with $196.2 million in cash, supported by recent financing activities, including a $240 million raise in April and an additional $105 million from a private placement in November.

Analyst firms have shown varied reactions to Cidara’s developments. H.C. Wainwright raised its price target on Cidara to $35, maintaining a Buy rating, following news of an anticipated early analysis of the Phase 2b NAVIGATE study for CD388. Citizens JMP initiated coverage with a Market Outperform rating, citing the potential of CD388 to address the needs of immunocompromised individuals. Cantor Fitzgerald reiterated an Overweight rating, expressing optimism about the upcoming Phase 2b study results.

The NAVIGATE study, which completed enrollment in December, is a large trial evaluating CD388’s efficacy in preventing influenza, with top-line results expected in the first half of 2025. The outcome of this study could significantly influence Cidara’s market position and future potential.

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