Full Press Release Details
LOS ANGELES, April 14, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Phathom investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Phathom Pharmaceuticals issued a press release titled "Phathom Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Business Updates" on August 2, 2022, prior to market hours. The press release disclosed that during post-approval testing for the commercial launch of their vonoprazan drug product, the company found trace levels of a nitrosamine impurity. Phathom is currently collaborating with the FDA to implement an additional test method, specification, acceptable intake limit, and controls to address this issue before releasing their first vonoprazan-based products to the market. As a result, the VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK product launches will be delayed. This news caused Phathom's stock price to drop by 28% or $2.61 per share to close at $6.46 per share on August 2, 2022.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
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