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.

Revenue model

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

Products and 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.

Customers and end markets

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

Value-chain role

Pharmaceutical developer and commercializer of prescription gastrointestinal treatments.

Geographic exposure

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

Source: SEC 10-K, filed 2026-02-26

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