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Phathom Pharmaceuticals, Inc.

Phathom Pharmaceuticals, Inc.

NASDAQ•PHAT
CEO: Ms. Terrie J. Curran
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2019-10-25
Phathom Pharmaceuticals, Inc., biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach. It is also developing vonoprazan for the treatment of erosive gastroesophageal reflux disease; and in combination with antibiotics for the treatment of Helicobacter pylori infection. The company was incorporated in 2018 and is headquartered in Florham Park, New Jersey.
Contact Information
100 Campus Drive, Suite 102, Florham Park, NJ, 07932, United States
877-742-8466
www.phathompharma.com
Market Cap
$1.04B
P/E (TTM)
-3.9
45.9
Dividend Yield
--
52W High
$16.08
52W Low
$2.21
52W Range
89%
1.3
F-Score
Modified Piotroski Analysis
Based on 7-year fundamentals
Weak • 1.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2018-2024

Financial Dashboard

Q3 2025 Data

Revenue

$49.50M+202.74%
4-Quarter Trend

EPS

-$0.41-68.94%
4-Quarter Trend

FCF

-$14.12M-77.77%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Massive Product Revenue Growth Net product revenue reached $117.5M USD for 9M 2025, up $91.9M USD from prior year period.
Gross Profit Significantly Improved Gross profit totaled $102.6M USD for 9M 2025, reflecting an $81.1M USD increase year-over-year.
Operating Loss Reduction Loss from operations narrowed to $154.1M USD in 9M 2025, a $64.0M USD improvement versus 9M 2024.
Strong Cash Position Maintained Cash and equivalents stood at $135.2M USD as of September 30, 2025, supporting current operating plan.

Risk Factors

Continued Operating Losses Incurred $200.1M USD net loss for 9M 2025; profitability timeline remains uncertain despite revenue gains.
Increased SG&A Spending SG&A expenses rose $17.4M USD in 9M 2025, driven by commercial launch support and restructuring costs.
Restructuring Accrual Balance $1.4M USD restructuring accrual remains outstanding as of September 30, 2025, related to May 2025 workforce reduction.
Future Capital Needs Risk Future capital needs depend on achieving revenue goals; failure to raise funds could delay product development efforts.

Outlook

Commercial Execution Focus Building momentum on VOQUEZNA launch; over 790,000 prescriptions filled as of October 17, 2025.
Pipeline Development Plans Initiated Phase 2 clinical trial for vonoprazan in eosinophilic esophagitis (EoE) during Q4 2025.
New CFO Appointment Sanjeev Narula appointed as new CFO effective October 6, 2025, setting forth new employment agreement terms.
Evaluate European Partnerships Evaluating potential commercial partnerships for vonoprazan in Europe and Canada, plus new indication development.

Peer Comparison

Revenue (TTM)

Iovance Biotherapeutics, Inc.IOVA
$250.43M
+175.6%
Maravai LifeSciences Holdings, Inc.MRVI
$192.28M
-30.6%
Ginkgo Bioworks Holdings, Inc.DNA
$180.61M
-17.1%

Gross Margin (Latest Quarter)

ProKidney Corp.PROK
100.0%
+0.0 pp
Vir Biotechnology, Inc.VIR
99.1%
+139.3 pp
Phathom Pharmaceuticals, Inc.PHAT
87.5%
+1.9 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
PHAT$1.04B-3.977.3%1.1%
MRVI$1.00B-4.3-42.6%4.2%
KURA$975.03M-4.5-65.4%2.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+18.6%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 30, 2025|
    Revenue: $49.50M+202.7%
    |
    EPS: $-0.41-68.9%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $39.50M+439.4%
    |
    EPS: $-1.05-32.7%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 1, 2025|
    Revenue: $28.52M+1391.6%
    |
    EPS: $-1.31-7.7%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 6, 2025|
    Revenue: $55.25M+8001.5%
    |
    EPS: $-5.29-34.6%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $16.35M+0.0%
    |
    EPS: $-1.32+73.7%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $7.32M+0.0%
    |
    EPS: $-1.56+85.7%
    Miss

  • Form 10-Q/A - Q1 2024

    Period End: Mar 31, 2024|Filed: Jun 14, 2024|
    Revenue: $1.91M+0.0%
    |
    EPS: $-1.42+59.6%
    Miss

  • Form 10-K/A - FY 2023

    Period End: Dec 31, 2023|Filed: Jun 14, 2024|
    Revenue: $682.00K+0.0%
    |
    EPS: $-3.93+31.1%
    Miss