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Phathom Pharmaceuticals Inc

phathompharma.com

Phathom Pharmaceuticals Inc (NASDAQ: PHAT) is a pharmaceutical company focused on the development and commercialization of vonoprazan, a treatment for acid-related gastrointestinal conditions including Erosive GERD (erosive esophagitis). The company pursued FDA approval for vonoprazan for Erosive GERD, with the EE Milestone achieved on November 1, 2023, per its 10-K filed 2026-02-26. Phathom carries debt financing through a Term Loan with Hercules Capital, amended multiple times between 2023 and 2024, indicating a capital structure reliant on external debt rather than operating cash flows. The filing excerpts do not provide sufficient detail to characterize revenue scale, market position, or competitive standing with specificity.

Products & Services

Vonoprazan, a treatment for acid-related conditions including Erosive GERD (erosive esophagitis), with FDA approval milestone achieved November 1, 2023 per the 10-K filed 2026-02-26.

Revenue Model

The filing excerpts do not provide sufficient detail to characterize Phathom's revenue model or disclose product sales figures.

Customers & Markets

The filing excerpts do not provide sufficient detail to characterize customer types or end markets.

Geographic Exposure

The filing excerpts do not provide sufficient detail to characterize geographic exposure.

Financial Snapshot

Revenue
TTM
$239.7M
Gross Margin
TTM
83.33%
Net Income
TTM
-$99.07M
Current Assets
2026 Q2
Current Liabilities
2026 Q2
Current Ratio
2026 Q2
192.43%
Total Assets
2026 Q2
Total Liabilities
2026 Q2
Book Value
2026 Q2
-344.3M
Cash
2026 Q2
P/E
Last 4 Quarters
N/A
Free Cash Flow
TTM
-$34.94M

Stock Price

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Market Cap: $697.86 Million

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