Welcome to our dedicated page for Phathom Pharmaceuticals SEC filings (Ticker: PHAT), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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 director Asit Parikh reported gifting 80,000 shares of Common Stock. On March 10, 2026, he made two bona fide gift transfers of 40,000 shares each, with no cash consideration.
After these gifts, Parikh directly holds 10,500 shares and indirectly holds 120,500 shares through a trust for the benefit of his spouse, for which he serves as trustee. These are non-market, charitable-style transfers rather than open-market sales.
Phathom Pharmaceuticals Principal Accounting Officer Robert Charles Breedlove reported stock-based compensation activity in common stock. He received 13,000 restricted stock units and 2,790 performance stock units on February 27, 2026. The performance units relate to a grant from February 27, 2025 with performance criteria confirmed on February 27, 2026. To cover tax withholding on these awards, 964 shares tied to performance stock units and 414 shares tied to RSUs were surrendered back to the company at $12.56 per share. After these transactions, he directly holds 61,480 common shares and indirectly holds 6,945.4 shares through a 401(k) account.
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.
Phathom Pharmaceuticals reported strong revenue growth but continued losses for the fourth quarter and full year 2025. Net product revenue reached $57.6 million in the fourth quarter, up from $29.7 million a year earlier, and $175.1 million for 2025 versus $55.3 million in 2024.
Full-year operating expenses fell to $312.5 million from $324.7 million, and the GAAP net loss narrowed to $221.2 million from $334.3 million. Cash and cash equivalents were $130.0 million at December 31, 2025, compared with $297.3 million a year earlier, while total liabilities increased and stockholders’ deficit deepened.
Management highlighted VOQUEZNA commercial momentum, a sales force realignment, and a January financing followed by a term loan modification to reduce interest and extend maturity. The company stated that it is positioning for anticipated operating profitability in the third quarter 2026 and to reach cash flow positivity in 2027, supported by tighter expense discipline and revenue growth.
Phathom Pharmaceuticals’ chief legal officer and corporate secretary Anne Marie Cook reported equity compensation activity in company common stock. On February 10, 2026, she acquired 3,461 shares at $0 upon vesting of performance stock units granted on June 23, 2025 after performance criteria were met.
On the same date, 1,535 shares were disposed of at $12.82 to satisfy the issuer’s tax withholding obligation related to that vesting. After these transactions, Cook directly owned 88,660 shares, which include 1,722 shares previously acquired through the company’s employee stock purchase plan in January 2026.
Phathom Pharmaceuticals President and CEO Steven L. Basta reported equity compensation activity in company stock. On February 10, 2026, he acquired 12,362 shares of common stock at $0 per share from the vesting of performance stock units granted on April 3, 2025, after performance criteria were met. On the same day, 6,277 shares were disposed of at $12.82 per share, surrendered to Phathom to satisfy tax withholding obligations related to the award. Following these transactions, he directly owned 373,315 shares of common stock, which includes 2,410 shares previously acquired under the employee stock purchase plan in January 2026.
Phathom Pharmaceuticals director Asit Parikh reported an internal share transfer involving 80,500 shares of common stock on January 23, 2026. The filing shows these shares moved for no consideration from his direct holdings to a trust for the benefit of his spouse, where he serves as trustee.
After the transactions, Parikh directly holds 50,500 shares and indirectly holds 80,500 shares through the trust. The transferred shares are subject to a lock-up agreement linked to an underwriting agreement dated January 7, 2026, and the trust has agreed to be bound by the same lock-up terms.
Phathom Pharmaceuticals, Inc. received an amended Schedule 13G/A showing that several Millennium-affiliated entities report passive, sub-5% positions in its common stock as of 12/31/2025. Integrated Core Strategies (US) LLC reports beneficial ownership of 1,255,161 shares, representing 1.6% of the class, with shared voting and dispositive power over those shares. Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander each report beneficial ownership of 2,082,180 shares, or 2.7% of the class, all with shared voting and dispositive power. The filers state that the securities are not held for the purpose of changing or influencing control of Phathom Pharmaceuticals.
Phathom Pharmaceuticals, Inc. insider updates share holdings. Principal Accounting Officer Robert Charles Breedlove reported the surrender of 776 shares of common stock on 01/21/2026 at a price of $13.61 per share. According to the footnote, these shares represent stock underlying restricted stock units that were surrendered to Phathom to cover tax withholding obligations, rather than an open-market sale. After this transaction, Breedlove beneficially owned 47,068 shares of Phathom common stock directly and 6,945.4 shares indirectly through a 401(k) plan.
Phathom Pharmaceuticals director Asit Parikh exercised stock options to acquire 8,750 shares of common stock. On 01/13/2026, he converted 8,750 derivative securities labeled as Common Stock (Right to Buy) at an exercise price of $10.30 per share into 8,750 shares of Phathom common stock in a transaction coded "M" (option exercise).
Following this transaction, Parikh directly beneficially owned 131,000 shares of Phathom Pharmaceuticals common stock. The filing does not show any sale of shares in connection with this option exercise; it simply reflects the option conversion and updated direct ownership.