Last updated
Revenue
R&D Expenses
Operating CF
Total Assets
Total Liabilities
Equity
Shares Out.
D/E Ratio
Dilution Watch
Financials
52W LOW $6.5252W HIGH $18.31
Volume
1.33 M
Value Traded
18.43 M
Short % Float
19.75%
+3.03%Week
-17.76%1 Month
-43.46%3 Month
-43.55%6 Month
-68.01%5 Year
-49.64%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
576.82 M
EPS (TTM)
-1.22
P/E Ratio
-
Ent. Value
558.93 M
Total Shares
80.84 M
Float Shares
51.44 M
Insiders
36.41%
Institutions
57.64%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
PoA blends historical approval base rates, trial design score and FDA review track record.
PHAT Catalyst Timeline
Dated clinical, regulatory and corporate events for Phathom Pharmaceuticals, Inc.
Catalyst Timeline
Dated clinical, regulatory & corporate events for Phathom Pharmaceuticals, Inc.
341Total events
10Upcoming
73Tier-1 (high impact)
2019 to 2028Coverage
Upcoming catalysts 2
Event history 50
●Trial InitiationVOQUEZNAApprovedTrial
Initiation of patient screening in registrational Phase 3 pHalcon-NERD-302 study of as-needed VOQUEZNA in NERD
Non-Erosive Gastroesophageal Reflux Disease (NERD)source ↗
▲Enrollment CompleteVOQUEZNAApprovedTrial
Completed patient enrollment in Phase 2 pHalcon-EoE-201 study of VOQUEZNA in EoE
eosinophilic esophagitis (EoE)source ↗
◆Oral PresentationPresentation
Goldman Sachs 47th Annual Global Healthcare Conference Fireside Chat
▲Enrollment CompleteVOQUEZNAApprovedTrial
Completed enrollment in Phase 2 pHalcon-EoE-201 trial
Eosinophilic Esophagitissource ↗
◆Oral PresentationVOQUEZNAApprovedPresentation
Product theater presentation on VOQUEZNA at DDW 2026
Gastroesophageal Reflux Disease (GERD)source ↗
◆Poster PresentationVOQUEZNAApprovedPresentation
Three poster presentations on VOQUEZNA at DDW 2026
Gastroesophageal Reflux Disease (GERD)source ↗
▲Poster PresentationVonoprazanApprovedPresentation
Phathom-sponsored analysis of heartburn and regurgitation from pHalcon-NERD-301 recognized as Poster of Distinction
Non-Erosive GERDsource ↗
▲Enrollment UpdateVOQUEZNAApprovedTrial
Phase 2 pHalcon-EoE-201 trial enrolling ahead of schedule
eosinophilic esophagitis (EoE)source ↗
◆Oral PresentationPresentation
Fireside Chat at 25th Annual Needham Virtual Healthcare Conference
◆Oral PresentationPresentation
One-on-One Meetings at Raymond James 2026 Biotech Innovation Symposium
◆Oral PresentationPresentation
Barclays 28th Annual Global Healthcare Conference Fireside Chat
◆Oral PresentationPresentation
Management to present at Guggenheim Emerging Outlook Biotech Summit 2026
▲Debt Royalty FinancingCorporate
Negotiated modification to term loan to reduce interest and extend maturity
▲Quarterly UpdateVOQUEZNAApprovedCorporate
VOQUEZNA reached 1 million prescription milestone
gastrointestinal diseasessource ↗
◆Oral PresentationPresentation
Guggenheim Securities 2nd Annual Healthcare Innovation Conference
▲First Patient DosedVOQUEZNAApprovedTrial
First patient dosed in Phase 2 study of VOQUEZNA in EoE
eosinophilic esophagitis (EoE)source ↗
◆Oral PresentationVOQUEZNAApprovedPresentation
Product theater presentation highlighting VOQUEZNA at ACG 2025
Gastroesophageal Reflux Disease (GERD)source ↗
▲PublicationVOQUEZNAApprovedPresentation
Publication of additional analyses from Phase 3 pHalcon-NERD-301 trial in American Journal of Gastroenterology
Non-Erosive Reflux Disease (NERD)source ↗
◆Oral PresentationPresentation
Medscape program 'Decision Points in the Management of GERD' supported by IME grant
Gastroesophageal Reflux Disease (GERD)source ↗
▲Product LaunchVOQUEZNAApprovedPost-Market
Over 580,000 VOQUEZNA prescriptions filled to date
heartburn associated with Non-Erosive GERD, healing and maintenance of healing of Erosive GERD, H. pylori infectionsource ↗
▲Orange Book ListingVOQUEZNAApprovedIP / Competition
FDA corrected Orange Book listing to confirm 10-year NCE exclusivity for VOQUEZNA tablets through May 3, 2032
◆Citizen PetitionVOQUEZNAApprovedIP / Competition
FDA response to Citizen Petition expected within 180 days
▲Citizen PetitionVOQUEZNAApprovedIP / Competition
FDA approves Citizen Petition to correct Orange Book for 10 years NCE exclusivity for VOQUEZNA tablets
◆Poster PresentationVOQUEZNAApprovedPresentation
Real-World Demographic and Clinical Characteristics of Vonoprazan-Treated Patients in the United States Diagnosed With GERD: A Descriptive Analysis of Non-Erosive vs. Erosive GERD
GERDsource ↗
◆Oral PresentationVOQUEZNAApprovedPresentation
VOQUEZNA Product Theater: Expert Insights on GERD Therapy: A Case-Based Approach with a First-In-Class Acid Suppressant
GERDsource ↗
Past FDA Catalysts and PDUFA Decisions
How PHAT actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2024-07-18 | VOQUEZNA® (vonoprazan) | PDUFA Date Approved | PDUFA |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
D35 / 100
Pipeline Score
$4M
Pipeline Value
$556M
Commercial Value
Fair Value
Valuation Signal
1
Drugs Scored
0.0x
rNPV / MCap
Top 55%
Micro Cap(rank 362 of 658)
Percentile Rank
Phathom Pharmaceuticals, Inc. faces pipeline headwinds (35/100), with 1 assets in development.
Commercial products (revenue basis: trailing 4 quarters of total revenue (10-K and 10-Q), to Jun 2026; product lines: last four quarters to Jun 2026 (10-K and 10-Q)) Revenue $239.7M x 2.3 = $556M
| Product | Revenue | Prior period | Change |
|---|---|---|---|
| Voquezna | $240M | $114M | +110.1% |
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Vonoprazan Small moleculeMarketedNCT06391177 | Erosive Esophagitis | Phase 3 | COMPLETED | 1,042 | Sep 19, 2024 |
Clinical Trial Results
Readouts, endpoints and source filings for every PHAT program
| Drug Name | Indication | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
| vonoprazan | GERD, H. pylori eradication | Phase 3 | 2026-05-20 | Meta-analysis of data from randomized controlled trials evaluating healing outcomes in patients with severe (LA Grade C and D) erosive esophagitis (Erosive GERD) treated with vonoprazan compared to the proton pump inhibitor (PPI) lansoprazoleRead More | Phathom Pharmaceuticals Highlights Breadth of Independent Vonoprazan Research at Digestive Disease Week 2026 Annual MeetingRead More |
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| Breedlove Robert CharlesOfficer (Principal Accounting Officer) | Disposition | -1,555 59,925 held | $11.04 | 07/14/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in PHAT
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| Frazier Life Sciences Management, L.P. | 2.9 % (-19.4 %) | 135.26 M | 12.47 M |
PHAT Institutional Ownership Trends
Options Data
Option Volume
Open Interest
Call OI
Put OI
Put-Call Ratio
OI 30-day avg
Today vs avg
Option Volume
Call Vol
Put Vol
Put-Call Ratio
Vol 30-day avg
Today vs avg
Option Chain Statistics
| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2027-01-15 | ||||||||||||
Real-Time Option Chain
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Last | Vol | OI | Last | Vol | OI | |
| No data available | ||||||
Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How PHAT ranks across every disease it competes in
Competitive Position is a premium feature
See how PHAT ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialPHAT News
PHAT▲ +4.7%today
Phathom Pharmaceuticals to Present New Data and Analyses for VOQUEZNA® (vonoprazan) at the American College of Gastroenterology (ACG) 2026 Annual Scientific Meeting
Phathom Pharmaceuticals will present new analyses of VOQUEZNA (vonoprazan) at the ACG 2026 Annual Scientific Meeting. The presentations will cover efficacy across BMI subgroups in GERD, real-world patient characteristics, and cost-effectiveness compared to proton pump inhibitors. The company aims to enhance the scientific dialogue around GERD and gather insights from healthcare providers.
Read more →PHATPhathom Pharmaceuticals Announces Initiation of Registrational Phase 3 Study of VOQUEZNA® (vonoprazan) for As-Needed Treatment of Non-Erosive GERD
Phathom Pharmaceuticals has initiated a registrational Phase 3 study for VOQUEZNA (vonoprazan) aimed at treating Non-Erosive Gastroesophageal Reflux Disease (NERD) on an as-needed basis. This study, named pHalcon-NERD-302, builds on positive Phase 2 data and is expected to enroll around 500 adults. Topline results are anticipated in the first quarter of 2028, potentially supporting a label expansion for VOQUEZNA.
Read more →PHATPhathom Pharmaceuticals to Participate in Upcoming Investor Conferences
Phathom Pharmaceuticals has announced its participation in two upcoming investor conferences in September 2026. The management team will engage in fireside chats and one-on-one meetings at the Cantor Global Healthcare Conference and the H.C. Wainwright 28th Annual Global Investment Conference. This engagement highlights the company's commitment to transparency and investor relations.
Read more →PHAT▼ -22.4%on this news
Phathom Pharmaceuticals Reports Second Quarter 2026 Financial Results and Provides Business Update
Phathom Pharmaceuticals reported strong financial results for Q2 2026, with net revenues reaching $74.3 million, an 88% increase from the previous year. The company also announced the initiation of a Phase 3 clinical trial for VOQUEZNA in patients with Non-Erosive GERD. Despite a net loss of $17.6 million, Phathom has significantly reduced operating expenses and updated its financial guidance for the year.
Read more →PHATPhathom Pharmaceuticals to Report Second Quarter 2026 Financial Results and Provide Business Update on Thursday, July 30, 2026
Phathom Pharmaceuticals will host a live webcast on July 30, 2026, to report its second quarter financial results and provide a business update. The company specializes in developing treatments for gastrointestinal diseases and markets vonoprazan for conditions like GERD and H. pylori infection. A recording of the webcast will be available for 90 days post-event.
Read more →PHATPhathom Pharmaceuticals Completes Patient Enrollment Ahead of Schedule in Phase 2 pHalcon-EoE-201 Study of VOQUEZNA® (vonoprazan) in Eosinophilic Esophagitis (EoE)
Phathom Pharmaceuticals has successfully completed patient enrollment in its Phase 2 pHalcon-EoE-201 study of VOQUEZNA (vonoprazan) for treating eosinophilic esophagitis (EoE). The trial, which is the first large placebo-controlled study for acid suppression treatment in EoE, enrolled 95 patients across 41 U.S. sites. Topline results are anticipated in the fourth quarter of 2026.
Read more →PHATPhathom Pharmaceuticals Highlights Breadth of Independent Vonoprazan Research at Digestive Disease Week 2026 Annual Meeting
Phathom Pharmaceuticals showcased extensive research on vonoprazan at the Digestive Disease Week 2026. A total of 31 abstracts, including 28 independent studies, highlighted its efficacy in treating conditions like GERD and H. pylori eradication. Notably, a Phathom-sponsored analysis received a Poster of Distinction, reflecting the growing interest in vonoprazan's applications in GI medicine.
Read more →PHAT▲ +7.2%on this news
Phathom Pharmaceuticals to Highlight VOQUEZNA® (vonoprazan) at DDW 2026 Annual Meeting
Phathom Pharmaceuticals will showcase VOQUEZNA (vonoprazan) at the DDW 2026 annual meeting in Chicago, scheduled for May 2-5. The company plans to conduct a product theater presentation and share clinical and real-world data through poster presentations. CEO Steve Basta emphasized the importance of this event for connecting with the GI community and advancing GERD treatment.
Read more →PHATPhathom Pharmaceuticals Reports First Quarter 2026 Financial Results and Provides Business Update
Phathom Pharmaceuticals reported a strong financial performance for Q1 2026, with net revenues reaching $58.3 million, a 104% increase compared to the previous year. The company is maintaining its guidance for the full year, anticipating operating profitability starting in Q3 2026. Prescription growth for VOQUEZNA has been robust, with 1.35 million prescriptions filled to date, indicating positive momentum in the gastrointestinal market.
Read more →PHATPhathom Pharmaceuticals to Report First Quarter 2026 Financial Results and Provide Business Update on Thursday, April 30, 2026
Phathom Pharmaceuticals will host a conference call on April 30, 2026, to report its first quarter financial results and provide a business update. The call will be accessible via a live webcast, with a recording available for 90 days afterward. The company continues to focus on its gastrointestinal treatments, particularly the marketed drug vonoprazan.
Read more →PHAT▲ +10.1%on this news
Phathom Pharmaceuticals Reports Fourth Quarter and Full Year 2025 Financial Results and Provides 2026 Financial Guidance
Phathom Pharmaceuticals reported strong financial results for Q4 and full year 2025, highlighting significant revenue growth and a realigned sales organization. The company anticipates operating profitability by Q3 2026 and cash flow positivity by 2027. However, they face challenges such as high operating expenses and market acceptance of their product VOQUEZNA.
Read more →PHAT▲ +6.2%on this news
Phathom Pharmaceuticals to Report Fourth Quarter and Full Year 2025 Financial Results and Provide Business Update on Thursday, February 26, 2026
Phathom Pharmaceuticals will host a live webcast on February 26, 2026, to discuss its fourth quarter and full year 2025 financial results. The event will also provide a business update. Phathom is known for its focus on gastrointestinal diseases and markets vonoprazan, a first-in-class potassium-competitive acid blocker.
Read more →PHAT▼ -6.2%on this news
Phathom Pharmaceuticals to Present at the Guggenheim Emerging Outlook Biotech Summit 2026
Phathom Pharmaceuticals will present at the Guggenheim Emerging Outlook Biotech Summit 2026, with a fireside chat scheduled for February 12. The conference will take place in New York from February 11-12, and management will also hold one-on-one meetings. The event will be accessible via a live webcast and archived recordings.
Read more →PHAT▼ -13.7%on this news
Phathom Pharmaceuticals Announces Pricing of $130 Million Public Offering of Common Stock and Pre-Funded Warrants
Phathom Pharmaceuticals has announced the pricing of a public offering, aiming to raise approximately $130 million through the sale of 6,875,000 shares of common stock and pre-funded warrants. The shares will be offered at $16.00 each and the launch is subject to customary closing conditions, with expected closure around January 9, 2026. The net proceeds are intended for general corporate purposes, including research and development, which aligns with the company's focus on novel GI treatments.
Read more →PHAT▲ +10.4%on this newsshared move
FLORHAM PARK, N.J., January 7, 2026-Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company
Phathom Pharmaceuticals, Inc. announced plans for a public offering of its common stock or pre-funded warrants, dependent on market conditions. The underwriters will have a 30-day option to purchase additional shares, but there are uncertainties regarding the completion and terms of this offering. The proceeds from this public offering are intended for general corporate purposes, including research and development. The company continues to market its product VOQUEZNA for various gastrointestinal conditions.
Read more →PHAT▲ +10.4%on this newsshared move
Phathom Pharmaceuticals Announces Preliminary Fourth Quarter and Full Year 2025 Financial Results
Phathom Pharmaceuticals has announced preliminary unaudited financial results for the fourth quarter and full year of 2025, highlighting a significant milestone with 1 million prescriptions for its product VOQUEZNA. The company aims to achieve operating profitability in the second half of 2026. However, these preliminary results are subject to audit, and actual performance may vary. Potential risks include market acceptance challenges and a smaller market opportunity for their product than anticipated.
Read more →PHAT▲ +10.4%on this newsshared move
Phathom Pharmaceuticals Announces Proposed Public Offering of Common Stock and Pre-Funded Warrants
Phathom Pharmaceuticals has announced a proposed public offering of common stock and pre-funded warrants aimed at raising capital. This offering will be used for general corporate purposes, including research, development, and working capital. With Guggenheim Securities and Cantor acting as joint bookrunning managers, the company has filed a registration statement with the SEC to facilitate the offering. However, there are uncertainties related to market conditions and the final terms of the offering.
Read more →About Phathom Pharmaceuticals, Inc.
Headquarters100 CAMPUS DRIVE,, FLORHAM PARK, NJ, 07932
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