phathom pharmaceuticals inc shares were down 9 at 1329 after the company said it has received revenue interest financing of up to 260 million in nondilutive capital the biopharmaceutical company said the agreement provides for an upfront 100 million cash payment and an additional 160 million cash payment upon food and drug administration approval of vonoprazan for treatment of erosive esophagitis phantom is planning a us launch of vonoprazan for h pylori in the third quarter of 2022 followed by the potential fda approval for erosive esophagitis expected in the first quarter of 2023 based on our current operating plan and with the funds from todays transaction plus our cash on hand and access to capital under our existing loan agreement we believe we have sufficient capital to fund operations through 2024 said terrie curran president and chief executive of phathom sagard healthcare partners novaquest capital management and hercules capital inc have committed to providing 260 million including the first 100 million payment and commitments for an additional 160 million upon ee approval the agreement provides phathom with an option to increase the payments under the agreement to up to 300 million by adding additional investors for up to an additional 40 million in exchange the investors will receive a 10 royalty on phathoms net sales of products containing vonoprazan the total royalties payable by phathom to the investors are capped at 20x of the total payments received from the investors upon achievement of the cap amount the royalty agreement will end