Here are the 10-K annual reports from Phathom Pharmaceuticals, Inc. (PHAT) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow PHAT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PHAT filings page.
Phathom Pharmaceuticals is a commercial-stage biopharma company focused on gastrointestinal diseases, built around vonoprazan, a potassium-competitive acid blocker marketed in the U.S. as VOQUEZNA, VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK.
The products treat erosive and non-erosive GERD and Helicobacter pylori infection, with U.S. launches beginning in late 2023. The company reports higher 2025 revenues from VOQUEZNA products versus the prior year, driven by growing prescription volume and prescriber adoption, with most use in GERD. As of February 13, 2026, more than 1.1 million prescriptions have been filled and VOQUEZNA has commercial coverage for over 120 million, or more than 80%, of U.S. commercial lives.
Regulatory protection is a major asset: QIDP and new chemical entity status, plus an FDA-granted citizen petition, give all three VOQUEZNA products U.S. exclusivity through May 3, 2032. Phathom is also advancing a Phase 2 trial of vonoprazan in eosinophilic esophagitis and evaluating additional lifecycle, geographic and OTC opportunities, while facing competition from generic PPIs and emerging PCABs.