Phathom Pharmaceuticals, Inc. filings document financial reporting, governance, capital structure and product-development disclosures for a Nasdaq-listed biopharmaceutical company focused on gastrointestinal diseases. Form 8-K reports include quarterly and annual results, preliminary financial information, material agreements, financing-related updates, and other event disclosures tied to VOQUEZNA® commercialization and clinical development.
Proxy materials cover board matters, executive compensation, equity awards and shareholder voting items. The filing record also describes registered common stock, risk-oriented forward-looking statements, and clinical or publication updates involving VOQUEZNA in GERD, non-erosive reflux disease and eosinophilic esophagitis.
Phathom Pharmaceuticals, Inc.’s amendment updates beneficial-ownership disclosures for Frazier-affiliated funds and reporting persons. Frazier Life Sciences IX, L.P. reported beneficial ownership of 5,827,415 shares (7.2%); Frazier Life Sciences Public Fund, L.P. reported 5,323,356 shares (6.5%). Frazier Life Sciences XI, L.P., Frazier Life Sciences XII, L.P. and Frazier Life Sciences X, L.P. reported 980,286 shares (1.2%), 276,029 shares (0.3%) and 59,403 shares (0.1%), respectively.
Reporting persons James N. Topper and Patrick J. Heron reported beneficial ownership of 6,013,327 shares (7.4%) and 5,901,756 shares (7.3%), respectively; those amounts include shares attributed to Frazier entities listed separately. The percentages are based on 81,291,520 shares outstanding as of October 27, 2026. The Public Fund disclosed warrants to purchase 2,596,399 shares subject to a 9.99% ownership limit and warrants to purchase 1,109,569 shares subject to a 19.99% limit. XI disclosed warrants to purchase 12,523 shares and 10,376 shares under those respective limits; XII disclosed warrants to purchase 130,133 shares subject to a 19.99% limit.
Phathom Pharmaceuticals, Inc. (PHAT) reported third-quarter 2026 net product revenue of $84.7 million, versus $49.5 million a year earlier; nine-month revenue was $217.3 million, versus $117.5 million. Net loss narrowed to $13.9 million from $30.0 million for the quarter and to $61.8 million from $200.1 million for nine months. Nine-month net cash used in operating activities was $15.7 million, compared with $161.8 million. Cash and cash equivalents were $184.6 million as of September 30, 2026. Management believes cash and anticipated product revenues are sufficient to fund operations for at least the next twelve months under its current operating plan.
As of September 30, 2026, the Hercules Loan Agreement had an outstanding loan balance of $175.0 million and the revenue-interest financing liability was $387.5 million. Investors receive royalties on vonoprazan product sales under that financing; the minimum cash amount required was $119.3 million as of October 1, 2026. Phathom completed enrollment of 95 patients at 41 U.S. sites in its Phase 2 eosinophilic esophagitis study, with topline results expected in the fourth quarter of 2026. A Phase 3 study of as-needed VOQUEZNA for non-erosive GERD began in September 2026, with topline results expected in the first quarter of 2028.
Phathom Pharmaceuticals, Inc. (PHAT) reported third-quarter 2026 net product revenue of $84.722 million, up 71% year over year. GAAP net loss was $13.897 million, compared with $29.973 million in Q3 2025, while loss from operations was $85,000 versus $15.271 million. Non-GAAP adjusted net income was $2.986 million, compared with an adjusted net loss of $11.152 million a year earlier.
Phathom maintained its FY 2026 guidance: net revenue of $310–325 million, gross-to-net discount of 55–59%, gross margin of approximately 80%, and non-GAAP operating expenses, excluding stock-based compensation, of $235–245 million. Cash and cash equivalents were $184.558 million as of September 30, 2026, compared with $129.972 million as of December 31, 2025; total liabilities were $692.659 million and $697.318 million on those respective dates.
Phathom Pharmaceuticals, Inc. said the FDA opened a public docket for comments on legal and regulatory questions related to issues raised by BDR Pharmaceuticals, Intl. Pvt. Ltd.’s ANDA referencing VOQUEZNA and BDR’s litigation against the FDA. Comments are due November 23, 2026.
Phathom said the FDA’s June 6, 2025 decision granting its Citizen Petition recognized 10 years of New Chemical Entity exclusivity through May 3, 2032, and that the exclusivity remains in effect. Saba Ilac Sanayii Ve Ticaret AS filed a notice in the BDR litigation claiming a pending related case and stating it intends to move to consolidate that case with BDR’s.
Phathom Pharmaceuticals, Inc. Chief Financial & Bus. Officer Sanjeev Narula surrendered 13,485 shares of common stock on October 6, 2026, to satisfy the issuer’s tax-withholding obligation. The reported price was $6.78 per share. After the transaction, he held 214,718 shares directly, including 1,488 shares acquired under the employee stock purchase plan in July 2026, and 1,123 shares indirectly through a 401(k).
Phathom Pharmaceuticals, Inc. announced that patient screening has begun in pHalcon-NERD-302, a Phase 3 study of as-needed VOQUEZNA (vonoprazan) tablets for adults with Non-Erosive GERD. Topline results are expected in the first quarter of 2028. If successful, the study is intended to support a potential regulatory submission seeking a label expansion for this treatment regimen.
The study is expected to enroll approximately 500 adults at approximately 80 U.S. sites. After a four-week open-label run-in with VOQUEZNA 10 mg once daily, eligible patients will be randomized 1:1 to as-needed VOQUEZNA 10 mg or placebo for 24 weeks.
Phathom Pharmaceuticals, Inc. (PHAT) reported that Principal Accounting Officer Robert Charles Breedlove surrendered shares on September 3, 2026 to cover taxes on equity compensation. He delivered 460 shares of common stock, valued at $9.05 per share, to satisfy the company’s tax withholding obligation on vested restricted stock units.
After this withholding event, he continued to hold 59,465 shares of Phathom common stock directly, plus an additional 8,191.78 shares held indirectly through a 401(k) plan. No transactions were reported as being made under a Rule 10b5-1 trading plan.
Phathom Pharmaceuticals continued scaling its VOQUEZNA franchise in the first half of 2026, generating $132.575M in net product revenue, up from $68.023M a year earlier. Q2 revenue reached $74.274M as prescriptions and payer coverage expanded, with about 1.7 million prescriptions filled since launch.
Despite higher Takeda royalties and rebates, gross profit for the first half rose to $105.484M. Operating expenses fell sharply, mainly from lower selling and marketing costs after the 2025 restructuring, reducing the net loss to $47.951M from $170.126M and cutting operating cash outflow to $17.577M.
Cash and cash equivalents were $182.478M at June 30, 2026, and management believes this, together with anticipated product revenue, will fund operations for at least twelve months. The company remains highly leveraged, with a $175.000M term loan and a $384.912M revenue interest financing liability driving $30.900M of interest expense in the half. All VOQUEZNA products now benefit from New Chemical Entity exclusivity through May 3, 2032, and a Phase 2 trial in eosinophilic esophagitis has fully enrolled, with topline results expected in the fourth quarter of 2026.
Phathom Pharmaceuticals reported strong second-quarter 2026 results, led by product revenue of 74,274 (in thousands) for the three months ended June 30, 2026, up from 39,503 (in thousands) a year earlier. Gross profit rose to 59,178 (in thousands), and management highlighted record quarterly revenue and operating profitability when excluding non-cash stock-based compensation.
GAAP net loss narrowed to 17,582 (in thousands), or 0.21 per share, compared with 75,810 (in thousands), or 1.05 per share, in the prior-year quarter. Non-GAAP adjusted net loss was 130 (in thousands), a much smaller loss than 56,498 (in thousands) a year earlier. Cash and cash equivalents increased to 182,478 (in thousands) as of June 30, 2026. Updated 2026 guidance calls for net revenue of $310–325 million and non-GAAP operating expenses of $235–245 million, while maintaining expectations for a 55-59% gross-to-net discount and approximately 80% gross margin.