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NASDAQ · Health carePhathom Pharmaceuticals, Inc. (PHAT)
Phathom Pharmaceuticals, Inc. brought in $274.9M of revenue over the twelve months to September 30, 2026, up 86.8% from a year earlier. It posted a net loss of $83M. In fiscal 2025 capital spending exceeded operating cash flow by $167M. At September 30, 2026 it held $184.6M in cash against $165.5M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 29, 2026.
Key facts about Phathom Pharmaceuticals, Inc.
- Net worth
- Phathom Pharmaceuticals, Inc. has a market value (market cap) of $431.2M at the latest share price, and shareholders' equity of -$347.6M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $175.1M (+216.9% year on year), with a net loss of $221.2M. Over the 12 months to September 30, 2026: revenue $274.9M, net loss $83M.
- Cash flow
- In fiscal 2025 operations used $166.8M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 29, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Phathom Pharmaceuticals, Inc.'s next report is expected around January 6, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Phathom Pharmaceuticals, Inc. does
Phathom Pharmaceuticals, Inc. is registered with the SEC under industry code SIC 2834 (Pharmaceutical Preparations). Its shares trade on NASDAQ under the ticker PHAT.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $175.1M | -$221.2M | -$3.03 | -$167M |
| 2024 | $55.3M | -$334.3M | -$5.29 | -$266.9M |
| 2023 | $682K | -$201.6M | -$3.93 | -$139.2M |
| 2022 | $0 | -$197.7M | -$5.05 | -$147.6M |
| 2021 | n/a | -$143.9M | -$3.89 | -$148.8M |
| 2020 | n/a | -$129.1M | -$3.88 | -$70.7M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where PHAT ranks in Health care
Latest SEC filings
What Phathom Pharmaceuticals, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 2, 2026Activist stake changed SCHEDULE 13D/A
- October 29, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 71% to $84.7M versus the same quarter last year; diluted EPS -$0.16 versus -$0.41.
- October 29, 2026
- October 26, 2026Other event 8-K
- October 23, 2026Other event 8-K
- September 29, 2026Other event 8-K
- July 30, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 88% to $74.3M versus the same quarter last year; diluted EPS -$0.21 versus -$1.05.
- July 30, 2026
- July 29, 2026Passive stake (5% or more) SCHEDULE 13G
- July 20, 2026Passive stake changed SCHEDULE 13G/A
Insider trades
What the people running Phathom Pharmaceuticals, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 2 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| October 6, 2026 | Narula SanjeevChief Financial & Bus. Officer | Shares withheld for tax | 13,485 | $91.4K |
| September 3, 2026 | Breedlove Robert CharlesPrincipal Accounting Officer | Shares withheld for tax | 460 | $4.2K |
| July 14, 2026 | Breedlove Robert CharlesPrincipal Accounting Officer | Shares withheld for tax | 1,555 | $17.2K |
| May 22, 2026 | Parikh AsitDirector | Gave as a gift | 28,000 | - |
| May 22, 2026 | Parikh AsitDirector | Gave as a giftindirect | 28,000 | - |
| May 20, 2026 | Parikh AsitDirector | Exercised options | 17,500 | $86.6K |
| May 19, 2026 | Schroeder Theodore RDirector | Received as pay | 24,122 | - |
| May 19, 2026 | Karbe FrankDirector | Received as pay | 24,122 | - |
Who owns PHAT
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| James N. Topper13D, may seek influence with 16 related filers | 7.4% | November 2, 2026 |
Largest institutional holders
Insiders
11 insiders reported holding 1,284,406 shares in total, about $6.8M at the last price.
| Holder | Shares |
|---|---|
| Basta Steven LPresident and CEO, Director | 373,315 |
| Narula SanjeevChief Financial & Bus. Officer | 214,718 |
| Parikh AsitDirector | 172,622148,500 held indirectly |
| Karbe FrankDirector | 91,622 |
| Cook Anne MarieChief Legal Off. & Corp. Sec. | 88,660 |
| Topper James NDirector, 10% owner | 66,718 |
| Cola Michael FDirector | 63,920 |
| Breedlove Robert CharlesPrincipal Accounting Officer | 59,465 |
| Fields HeidiDirector | 54,122 |
| Stenhouse MarkDirector | 54,122 |
Questions about PHAT
What does Phathom Pharmaceuticals, Inc. do?
Phathom Pharmaceuticals, Inc. is a company in the Health care sector, listed on NASDAQ as PHAT. Its shares trade on NASDAQ under the ticker PHAT.
What is Phathom Pharmaceuticals, Inc.'s net worth?
Phathom Pharmaceuticals, Inc. has a market value (market cap) of $431.2M at the latest share price, and shareholders' equity of -$347.6M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Phathom Pharmaceuticals, Inc. profitable?
No. Over the twelve months to September 30, 2026 it reported a net loss of $83M on revenue of $274.9M.
How much revenue does Phathom Pharmaceuticals, Inc. make?
Over the twelve months to September 30, 2026 Phathom Pharmaceuticals, Inc. reported revenue of $274.9M. That is 86.8% more than a year earlier.
When did Phathom Pharmaceuticals, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 29, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the activist stake changed from November 2, 2026.
When is Phathom Pharmaceuticals, Inc.'s next earnings report?
Phathom Pharmaceuticals, Inc.'s next report is expected around January 6, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Phathom Pharmaceuticals, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.