[8-K] Phathom Pharmaceuticals, Inc. Reports Material Event

Rhea-AI Filing Summary

Upwork Inc. filed an amended Current Report on Form 8-K/A (dated 6 Aug 2025) solely to fix a clerical error in the earnings outlook furnished earlier the same day.

• Q3 2025 non-GAAP diluted EPS: $0.28 – $0.30
• FY 2025 non-GAAP diluted EPS: $1.24 – $1.27

No other figures, statements or exhibits from the original 8-K were changed. Management again declined to reconcile the non-GAAP outlook to GAAP EPS because stock-based compensation and other items are difficult to forecast. The corrected press release is attached as Exhibit 99.1; the information is furnished under Item 2.02 and is not deemed "filed" for purposes of Section 18 of the Exchange Act.

Upwork also reaffirmed that it distributes material information via its IR website and designated social-media channels. Apart from the updated EPS range, all prior disclosures remain intact.

Positive

• Provides clear non-GAAP EPS guidance of $0.28–$0.30 for Q3 2025 and $1.24–$1.27 for FY 2025, confirming management’s expectation of continued profitability.

Negative

• None.

Insights

Financial Analyst

TL;DR: Filing merely corrects EPS guidance; limited market impact but provides clearer profitability expectations.

The 8-K/A rectifies a clerical mistake, giving investors definitive non-GAAP EPS ranges of $0.28–$0.30 (Q3) and $1.24–$1.27 (FY25). While offering transparency, the amendment does not introduce new operational data, revenue metrics, or strategic shifts. Because previous guidance figures are undisclosed, the revision’s directional impact cannot be gauged. As such, the filing is primarily administrative, yet helpful for valuation models that rely on management’s outlook. Overall market effect should be modest.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): August 7, 2025

PHATHOM PHARMACEUTICALS, INC.

(Exact name of registrant as specified in its charter)

Delaware		001-39094		82-4151574
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

100 Campus Drive, Suite 102

Florham Park, New Jersey 07932

(Address of principal executive offices) (Zip Code)

(877) 742-8466

(Registrant’s telephone number, include area code)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		PHAT		The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 7, 2025, Phathom Pharmaceuticals, Inc. issued a press release announcing its financial results for the quarter ended June 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Press Release issued on August 7, 2025
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				PHATHOM PHARMACEUTICALS, INC.
Date: August 7, 2025				By:		/s/ Steven Basta
						Steven Basta
						President & Chief Executive Officer

FAQ

Why did Upwork (UPWK) file this 8-K/A on August 6, 2025?

The company corrected a clerical error in its previously issued non-GAAP diluted EPS guidance.

What is Upwork’s updated non-GAAP EPS guidance for Q3 2025?

Upwork now expects $0.28–$0.30 in non-GAAP diluted EPS for Q3 2025.

What is Upwork’s updated non-GAAP EPS guidance for full-year 2025?

The company projects $1.24–$1.27 in non-GAAP diluted EPS for FY 2025.

Did the amendment change any other financial metrics or disclosures?

No. Only the EPS guidance was corrected; all other information from the original 8-K remains unchanged.

Where can investors view the full corrected press release?

It is filed as Exhibit 99.1 to this 8-K/A and available on Upwork’s SEC filings page.