Phathom Pharmaceuticals, Inc. Stock Price, News & Analysis

Phathom Pharmaceuticals (Nasdaq: PHAT) priced an underwritten public offering of 6,875,000 common shares and pre-funded warrants to purchase 1,250,078 shares at $16.00 per common share and $15.999 per pre-funded warrant, generating approximately $130 million in gross proceeds before fees.

The underwriters have a 30-day option to buy up to 1,218,761 additional shares. The offering is expected to close on or about January 9, 2026, subject to customary closing conditions. Proceeds are intended for general corporate purposes, including working capital, commercialization, and R&D.

Phathom Pharmaceuticals (Nasdaq: PHAT) announced a proposed underwritten public offering of common stock and, for some investors, pre-funded warrants, with underwriters granted a 30-day option to buy up to an additional 15% of the securities. The company said net proceeds are intended for general corporate purposes, including working capital, commercialization, and R&D. The offering is being made from a shelf registration that became effective on January 7, 2026. Guggenheim Securities and Cantor are joint bookrunning managers. There is no assurance the offering will be completed or on stated terms.

Phathom Pharmaceuticals (Nasdaq: PHAT) reported preliminary unaudited results for Q4 and full-year 2025. For Q4 2025, the company expects net revenues ~$57–58M, GAAP operating expenses of $59–61M, non-GAAP operating expenses of $51–53M (excludes ~$8M stock-based compensation), and net cash usage ~ $6M. Cash and cash equivalents were ~$130M at Dec 31, 2025. For full-year 2025, expected net revenues ~$174.5–175.5M, GAAP operating expenses $315.5–317.5M, and non-GAAP operating expenses $284.5–286.5M (excludes ~$31M stock-based compensation). VOQUEZNA surpassed 1 million U.S. prescriptions since launch. Operating profitability is anticipated in H2 2026 (ex-stock compensation). Results are preliminary and unaudited.

Phathom Pharmaceuticals (NASDAQ: PHAT) announced the first patient has been dosed in its Phase 2 pHalcon-EoE-201 trial evaluating VOQUEZNA® (vonoprazan) 20 mg as an investigational oral treatment for eosinophilic esophagitis (EoE) in adults.

The randomized, double-blind, placebo-controlled study will enroll ~80 adults with endoscopic-confirmed EoE and dysphagia across ~40 U.S. sites, with Part 1 consisting of 12 weeks of VOQUEZNA or placebo and an optional 12-week extension (Part 2) where all subjects receive VOQUEZNA. Topline primary and secondary results are anticipated in 2027. The company said positive data could support discussions on a pediatric program and potentially extend regulatory exclusivity.

Phathom Pharmaceuticals (Nasdaq: PHAT) said members of its management team will participate in multiple investor conferences in November–December 2025, including Guggenheim Healthcare (Boston) on Nov 10, 2025, Stifel Healthcare (New York) on Nov 12, 2025, Jefferies Global Healthcare (London) on Nov 18, 2025, Craig‑Hallum Alpha Select (New York) on Nov 18, 2025, and Evercore Healthcare (Miami) on Dec 2, 2025.

Several events offer live webcasts with listed times and management will hold one‑on‑one meetings throughout each conference. Live webcasts and archived recordings will be available via the company’s News & Events investor portal and recordings will remain available for 90 days after each meeting.

Phathom Pharmaceuticals (Nasdaq: PHAT) reported Q3 2025 results on October 30, 2025: net revenue $49.5M (up 25% sequentially), ~221,000 VOQUEZNA prescriptions filled in Q3 and >790,000 total filled prescriptions to date. Cash operating metrics improved: cash and cash equivalents $135.2M and net cash usage ~$14M in Q3 (a 77% improvement vs Q2). Operating expenses declined sequentially with non-GAAP operating expense $49.3M in Q3 and guidance of $170–$175M full-year 2025 revenue. The company expects to achieve operating profitability in 2026 (excluding stock-based compensation) and initiated a Phase 2 EoE trial with topline results anticipated in 2027.

Phathom Pharmaceuticals (NASDAQ: PHAT) reported publication of Phase 3 pHalcon-NERD-301 data in the American Journal of Gastroenterology showing VOQUEZNA (vonoprazan) produced rapid and sustained relief of nocturnal GERD symptoms.

In 772 randomized patients, mean heartburn-free nights at Week 4 were 59.9% (10 mg) and 56.4% (20 mg) vs 43.3% for placebo (nominal p<0.0001); separation appeared after the first dose. Median heartburn-free nights remained >70% through the 20-week extension. VOQUEZNA improved N-GSSIQ scores for nocturnal severity and concern and was generally well tolerated with common AEs ≤5% in the extension.

Phathom Pharmaceuticals (Nasdaq: PHAT) will highlight VOQUEZNA® (vonoprazan) at the American College of Gastroenterology (ACG) 2025 Annual Scientific Meeting in Phoenix, Oct 24–29, 2025.

Phathom will staff exhibit booth #214, host a VOQUEZNA product theater on Oct 27, 3:45–4:30 pm MST featuring Dr. John Erik Pandolfino, and supported an IME Medscape program, “Decision Points in the Management of GERD,” on Oct 25, 6:00–7:15 pm MST. VOQUEZNA is described as an approved potassium-competitive acid blocker for healing and maintenance of erosive GERD and relief of heartburn in non-erosive GERD; the summary notes key safety warnings and monitoring recommendations in the prescribing information.

Phathom Pharmaceuticals (Nasdaq: PHAT) announced it will report third quarter 2025 financial results and provide a business update via live webcast on Thursday, October 30, 2025 at 8:00 AM EDT.

The live webcast and presentation materials will be available on the company's Events & Presentations page and a recording will be posted for 90 days after the call. Phathom develops gastrointestinal therapies and markets VOQUEZNA (vonoprazan) products in the U.S., including VOQUEZNA tablets for GERD and VOQUEZNA DUAL PAK/TRIPLE PAK for H. pylori treatment.

Media and investor contact details are provided for additional inquiries.