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, Inc. reported an equity award transaction for its President, CEO and Director, Steven L. Basta. On January 2, 2026, he received 251,034 restricted stock units (RSUs) of common stock at a price of $0 per share, increasing his directly held common stock to 364,820 shares after the transaction. Each RSU represents a right to receive one share of common stock.
The RSUs vest over three years, with one-third of the award vesting on each of the first three anniversaries of January 2, 2026, subject to his continued service. On the same date, he was also granted a stock option to purchase 226,156 shares of common stock at an exercise price of $15.71 per share, expiring on January 1, 2036. One forty-eighth of the option vests monthly following the vesting commencement date, conditioned on his continuous service.
Phathom Pharmaceuticals reported an insider equity transaction by its President and CEO and director, Steven L. Basta. On 11/28/2025, 90,000 shares of common stock were acquired through the exercise of performance stock units at an exercise price of $0, increasing his directly held common stock to 131,625 shares before tax settlements.
On the same date, 48,375 shares of common stock were surrendered at a price of $15.62 to cover tax withholding obligations, leaving 83,250 common shares held directly after the transactions. The derivative table shows performance share units with 90,000 shares underlying this exercise and 180,000 derivative securities remaining beneficially owned. The filing explains that 360,000 performance stock units were granted on April 3, 2025, with vesting tied to stock price hurdles over four years and continued service.
Phathom Pharmaceuticals (PHAT) insider filing: The company’s Principal Accounting Officer reported a sale of common stock on 11/03/2025. The filing shows 524 shares sold at $13.51 (transaction code S).
The footnote states the shares were sold to satisfy tax withholding obligations upon the settlement of restricted stock units. Following the transaction, beneficial ownership stands at 47,407 shares held directly and 6,945.4 shares held indirectly via a 401(k).
Phathom Pharmaceuticals announced the first patient has been dosed in its Phase 2 pHalcon EoE-201 trial evaluating VOQUEZNA (vonoprazan) tablets as an investigational treatment for eosinophilic esophagitis in adults.
The study is a two-part, randomized, double-blind, placebo-controlled trial. Part 1 will enroll 80 adults with endoscopic-confirmed EoE and dysphagia, randomized to VOQUEZNA 20 mg or placebo once daily for 12 weeks. Patients who complete Part 1 may enter a 12-week extension (Part 2), where all participants receive VOQUEZNA 20 mg.
Topline primary and secondary results are anticipated in 2027. The company also noted typical development uncertainties and forward-looking risks related to study conduct, enrollment, outcomes, and future program decisions.
Phathom Pharmaceuticals (PHAT) reported Q3 2025 results with product revenue of $49.5 million, up from $16.4 million a year ago as VOQUEZNA sales expanded. Gross profit reached $43.3 million and operating loss narrowed to $15.3 million. Net loss was $30.0 million, or $0.41 per share, versus $85.6 million, or $1.32 per share, last year.
For the first nine months, product revenue totaled $117.5 million versus $25.6 million in 2024, and net loss improved to $200.1 million from $259.9 million. Cash and cash equivalents were $135.2 million, with stockholders’ deficit at $422.5 million. Long‑term debt, net, was $207.1 million, and the revenue interest financing liability stood at $373.3 million (including $24.3 million current). The company recorded $9.2 million of restructuring charges in May to streamline operations.
Management states it has sufficient working capital for at least the next twelve months. An at‑the‑market program for up to $150 million remains unused. Shares outstanding were 71,138,440 as of October 27, 2025.
Phathom Pharmaceuticals furnished a press release announcing financial results for the quarter ended September 30, 2025. The release was provided as Exhibit 99.1 to an Item 2.02 report.
Under General Instruction B.2, the information in the report, including Exhibit 99.1, is treated as furnished and not filed.
Phathom Pharmaceuticals (PHAT) reported that additional analyses from its pivotal Phase 3 pHalcon-NERD-301 trial of VOQUEZNA (vonoprazan) in Non-Erosive Reflux Disease were published in the American Journal of Gastroenterology. The article, “Vonoprazan Improves Nocturnal Gastroesophageal Reflux Symptoms in Non-Erosive Reflux Disease,” highlights the burden of nighttime GERD symptoms.
In the trial, 772 patients were randomized to VOQUEZNA 10 mg, 20 mg, or placebo for 4 weeks, followed by a 20-week extension with active treatment. Nighttime GERD symptoms affect up to an estimated 80% of patients and are linked to impaired sleep and productivity. The company also included standard forward-looking statement cautions about clinical performance and market acceptance.
Sanjeev Narula, Chief Financial & Business Officer of Phathom Pharmaceuticals, Inc. (PHAT), reported a grant of 144,000 restricted stock units (RSUs) on 10/06/2025. Each RSU vests in three equal installments with 33.33% vesting on each of the first three anniversaries of the 10/06/2025 vesting commencement date, subject to continued service. The filing is an amendment submitted on 10/08/2025 to correct an omission in the Form 4 originally filed on 10/07/2025. Each RSU represents a contingent right to one share of common stock, and the report shows 144,000 shares beneficially owned following the grant.
Phathom Pharmaceuticals, Inc. (PHAT) reported a Section 16 officer equity award for Chief Financial & Business Officer Sanjeev Narula. On 10/06/2025 Mr. Narula was granted a stock option to buy 200,000 shares of common stock at an exercise price of $11.61 per share. The option is exercisable through 10/05/2036.
The award vests 25% on 10/06/2026 with the remainder vesting in equal monthly installments over the following three years, subject to continued service. The Form 4 was signed on 10/07/2025.
Initial Form 3 filed for Sanjeev Narula. The filing reports a Date of Event of 10/06/2025 and identifies the reporting person as Sanjeev Narula with an address at 100 Campus Drive, Suite 102, Florham Park, NJ 07932. The form indicates the reporting person is an Officer with the title Chief Financial & Bus. Officer. The report discloses no non-derivative or derivative securities beneficially owned (listed as 0 and no securities are beneficially owned). The signature on the filing is by an attorney-in-fact dated 10/07/2025.