PHAT · Phathom Pharmaceuticals, Inc.
Phathom Pharmaceuticals Inc (PHAT)
What's happening
- PHAT is down 18.34% today, trading at $5.72. — Live quote
- It's trading within 3% of its 52-week low ($6.52). (Finnhub fundamentals)
- Volume today (380,552) is well below its 3-month average of 1,309,880. (Finnhub fundamentals)
- Reports earnings on 2026-10-29 (before market open), 5 days away. (Finnhub earnings calendar)
- Last quarter's EPS beat estimates: $-0.21 actual vs. $-0.26 estimated (+18.1%). (Finnhub earnings history)
Deterministic template sentences filled in from the same sourced figures shown elsewhere on this page -- not an AI-written summary, no live model call.
Key Statistics
Analyst Recommendations
Aggregate ratings for 2026-10-01 (18 analysts polled by Finnhub) — consensus count.
Performance Overview (Trailing returns vs S&P 500 benchmark)
Earnings Trends (Quarterly EPS Actual vs Estimate)
Valuation Measures & Ratios
Quarterly history (5 periods)
| Measure | Jun '26 | Mar '26 | Sep '25 | Jun '25 | Mar '25 |
|---|---|---|---|---|---|
| Market cap | $907.6M | $913.5M | $859.7M | $691.7M | $452.1M |
| P/E | -5.90 | -3.96 | -3.01 | -1.99 | -1.28 |
| Price/Sales | 4.10 | 5.20 | 6.42 | 7.54 | 8.36 |
| Price/Book | -2.64 | -2.71 | -2.03 | -1.70 | -1.34 |
| EV/Revenue | 4.02 | 5.10 | 6.96 | 8.15 | 8.19 |
| EV/EBITDA | -9.46 | -5.31 | -4.16 | — | — |
| ROE | 44.65% | 68.40% | 67.61% | 85.54% | 104.67% |
| ROA | -47.00% | -75.53% | -118.89% | -138.74% | -120.39% |
Trailing-twelve-month ratios computed from SEC EDGAR quarterly figures and historical daily close prices (Alpaca). Diluted shares are derived from Net income ÷ EPS (diluted) for each quarter, not separately reported. Forward P/E/PEG unavailable (no free data source).
Glossary — what these abbreviations mean
- 1. TTM
- Trailing twelve months — the sum of the last four reported quarters, not a calendar year or the single latest quarter.
- 2. EPS
- Earnings per share — net income divided by diluted shares outstanding.
- 3. Beta
- A stock's historical volatility relative to the overall market. Above 1 means it has moved more than the market; below 1, less.
- 4. EV (Enterprise Value)
- Market cap plus total debt minus cash — roughly what it would cost to buy the whole company, debt included.
- 5. Forward P/E
- Price divided by analysts' estimated earnings for the next 12 months, instead of trailing actual earnings.
- 6. PEG Ratio
- P/E divided by expected earnings growth rate. A lower number can indicate a stock is cheap relative to how fast it's expected to grow.
- 7. Price / Book
- Share price divided by book value (assets minus liabilities) per share.
- 8. ROE
- Return on equity — net income divided by shareholders' equity, a measure of how efficiently a company turns equity into profit.
- 9. ROA
- Return on assets — net income divided by total assets, a measure of how efficiently a company turns assets into profit.
- 10. MRQ
- Most recent quarter — the single latest reported period, as opposed to TTM. The Financials section's "Quarterly" view below shows MRQ-style figures.
- 11. YoY
- Year over year — percent change versus the same period one year earlier, used for growth figures like those on Compare cards and the Screener.
Short Interest
Source: FINRA Rule 4560 consolidated short interest, settlement date 2026-09-30. Reported bi-monthly with a reporting lag — not real-time.
Quotes and the 1-day extended-hours chart: Yahoo Finance. Longer historical charts: Alpaca (IEX feed) — real-time but IEX-only volume (~2.5% of consolidated market volume). Fundamentals + earnings: Finnhub.
Price history
Drag horizontally to zoom into a section; use Reset view to restore all observations.
Technical signal summary
Calculating from the latest year of daily price history…
Show Technical Analysis Breakdown ▾ 10 Indicators
Not investment advice — read several signals together.
Indicators None active
History limited by data provider; markers are heuristics, not signals.
Peer and sector context
Balanced evidence
A deterministic summary of sourced facts—not an AI verdict.
Potential strengths
- Revenue growth is 88.0% on the provider's reported measure. Finnhub fundamentals ↗
- Latest SEC filing is Form 8-K, filed 2026-10-23; review it for current changes and risks. SEC EDGAR ↗
Potential concerns
- Net profit margin is -41.3%. Finnhub fundamentals ↗
- Trailing 52-week price return is -47.9%. Finnhub market metrics ↗
Rule-based facts only; absence from either side is not evidence, and this is not a recommendation.
More on PHAT
No accessible free API for these — links go to the source directly.
Financials
Fundamental trends
Visualized from the same SEC figures in the tables below.
Income statement
| Line item | Jun '26 | Mar '26 | Sep '25 | Jun '25 | Mar '25 | Sep '24 | Jun '24 | Mar '24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $74.3M | $58.3M | $49.5M | $39.5M | $28.5M | $16.4M | $7.3M | $1.9M |
| Gross profit | $59.2M | $46.3M | $43.3M | $34.5M | $24.8M | $14.0M | $5.9M | $1.5M |
| Operating income | -$4.0M | -$15.5M | -$15.3M | -$59.9M | -$78.9M | -$70.8M | -$77.3M | -$70.0M |
| Net income | -$17.6M | -$30.4M | -$30.0M | -$75.8M | -$94.3M | -$85.6M | -$91.4M | -$82.9M |
| EPS (diluted) | $-0.21 | $-0.37 | $-0.41 | $-1.05 | $-1.31 | $-1.32 | $-1.56 | $-1.42 |
| EPS (basic) | $-0.21 | $-0.37 | $-0.41 | $-1.05 | $-1.31 | $-1.32 | $-1.56 | $-1.42 |
| Operating margin | -$5 | -$27 | -$31 | -$152 | -$277 | -$433 | -$1.1K | -$3.7K |
| Net margin | -$24 | -$52 | -$61 | -$192 | -$331 | -$523 | -$1.2K | -$4.3K |
Balance sheet
| Line item | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $327.1M | $305.1M | $259.1M | $240.3M | $250.2M | $294.2M | $378.3M | $387.0M |
| Total liabilities | $671.3M | $642.1M | $697.3M | $662.8M | $656.1M | $632.6M | $631.9M | $574.2M |
| Stockholders' equity | -$344.3M | -$337.0M | -$438.2M | -$422.5M | -$405.8M | -$338.4M | -$253.6M | -$187.1M |
| Total current assets | $295.9M | $276.6M | $229.0M | $207.8M | $218.9M | $264.9M | $360.1M | $373.8M |
| Total current liabilities | $153.8M | $125.0M | $132.0M | $93.1M | $91.8M | $74.0M | $85.7M | $65.3M |
| Cash & equivalents | $182.5M | $180.9M | $130.0M | $135.2M | $149.6M | $212.3M | $297.3M | $334.7M |
| Accounts receivable | $97.4M | $80.7M | $78.1M | $55.8M | $51.3M | $36.4M | $38.8M | $21.1M |
| Inventory | $7.7M | $6.5M | $5.5M | $3.6M | $3.4M | $3.2M | $3.2M | $3.1M |
| Property, plant & equipment | $971.0K | $1.0M | $1.1M | $1.2M | $1.2M | $1.4M | $1.5M | $1.7M |
| Other non-current assets | $3.1M | $3.1M | $2.9M | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M |
| Accounts payable | $5.4M | $6.4M | $5.0M | $1.1M | $4.0M | $11.6M | $10.5M | $7.1M |
| Accrued liabilities | $109.0M | $83.3M | $89.8M | $65.3M | $64.3M | $43.0M | $53.2M | $35.8M |
| Deferred revenue (current) | $37.3M | $33.0M | $27.2M | $24.3M | $21.5M | $17.3M | $19.8M | $20.2M |
| Short-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current liabilities | — | — | $7.5M | — | — | — | — | — |
| Long-term debt | $164.6M | $163.7M | $209.1M | $207.1M | $205.1M | $203.2M | $201.4M | $175.7M |
| Other non-current liabilities | $3.5M | $3.5M | $4.0M | $11.5M | $11.5M | $11.5M | $11.5M | $10.8M |
| Common stock & paid-in capital | $8.0K | $7.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K |
| Retained earnings | -$1.53B | -$1.51B | -$1.48B | -$1.46B | -$1.43B | -$1.36B | -$1.26B | -$1.19B |
Cash flow
| Line item | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.9M | -$15.6M | -$5.0M | -$14.1M | -$62.7M | -$84.9M | -$63.5M | -$63.6M |
| Investing cash flow | -$44.0K | -$61.0K | -$87.0K | -$27.0K | -$97.0K | -$18.0K | -$5.0K | -$44.0K |
| Financing cash flow | $3.6M | $66.6M | -$97.0K | -$271.0K | $80.0K | $0 | $26.0M | $122.1M |
| Free cash flow | -$2.0M | -$15.7M | -$5.1M | -$14.1M | -$62.8M | -$84.9M | -$63.5M | -$63.6M |
| Capital expenditures | $44.0K | $61.0K | $87.0K | $27.0K | $97.0K | $18.0K | $5.0K | $44.0K |
| Depreciation & amortization | $114.0K | $110.0K | $128.0K | $156.0K | $172.0K | $177.0K | $193.0K | $191.0K |
| Share-based compensation | $6.7M | $5.5M | $5.6M | $9.3M | $8.3M | $5.5M | $6.7M | $5.6M |
| Change in accounts receivable | $16.7M | $2.6M | $22.3M | $4.5M | $14.9M | -$2.4M | $17.7M | $10.2M |
| Change in inventory | $4.0M | -$665.0K | -$2.0M | -$395.0K | $1.9M | $12.3M | $5.6M | $418.0K |
| Debt issued | $0 | $173.2M | $0 | $0 | $0 | $0 | $24.8M | $0 |
| Debt repaid | $0 | $229.0M | — | — | $0 | $0 | — | — |
Income statement
| Line item | Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 |
|---|---|---|---|---|---|
| Revenue | $175.1M | $55.3M | $682.0K | $0 | — |
| Gross profit | $152.5M | $47.3M | $515.0K | $0 | — |
| Operating income | -$160.0M | -$277.5M | -$167.3M | -$172.4M | -$135.1M |
| Net income | -$221.2M | -$334.3M | -$201.6M | -$197.7M | -$143.9M |
| EPS (diluted) | $-3.03 | $-5.29 | $-3.93 | $-5.05 | $-3.89 |
| EPS (basic) | $-3.03 | $-5.29 | $-3.93 | $-5.05 | $-3.89 |
| Operating margin | -$91 | -$502 | -$24.5K | — | — |
| Net margin | -$126 | -$605 | -$29.6K | — | — |
Balance sheet
| Line item | Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 |
|---|---|---|---|---|---|
| Total assets | $259.1M | $378.3M | $413.8M | $164.8M | $189.4M |
| Total liabilities | $697.3M | $631.9M | $486.6M | $239.6M | $117.3M |
| Stockholders' equity | -$438.2M | -$253.6M | -$72.8M | -$74.8M | $72.2M |
| Total current assets | $229.0M | $360.1M | $397.4M | $160.5M | $186.5M |
| Total current liabilities | $132.0M | $85.7M | $38.8M | $26.2M | $18.9M |
| Cash & equivalents | $130.0M | $297.3M | $381.4M | $155.4M | $183.3M |
| Accounts receivable | $78.1M | $38.8M | $1.6M | $0 | — |
| Inventory | $5.5M | $3.2M | $1.2M | $0 | — |
| Property, plant & equipment | $1.1M | $1.5M | $2.1M | $1.2M | $650.0K |
| Other non-current assets | $2.9M | $1.7M | $1.7M | $299.0K | $181.0K |
| Accounts payable | $5.0M | $10.5M | $12.6M | $10.0M | $5.2M |
| Accrued liabilities | $89.8M | $53.2M | $17.2M | $14.7M | $11.4M |
| Deferred revenue (current) | $27.2M | $19.8M | $7.1M | $0 | — |
| Short-term debt | $0 | $0 | $0 | $0 | — |
| Other current liabilities | $7.5M | — | — | — | — |
| Long-term debt | $209.1M | $201.4M | $137.8M | $95.3M | $89.7M |
| Other non-current liabilities | $4.0M | $11.5M | $9.7M | $7.5M | $7.5M |
| Common stock & paid-in capital | $6.0K | $6.0K | $5.0K | $3.0K | $3.0K |
| Retained earnings | -$1.48B | -$1.26B | -$928.7M | -$727.1M | -$529.4M |
Cash flow
| Line item | Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 |
|---|---|---|---|---|---|
| Operating cash flow | -$166.8M | -$266.8M | -$137.6M | -$146.5M | -$148.5M |
| Investing cash flow | -$229.0K | -$135.0K | -$1.6M | -$1.0M | -$328.0K |
| Financing cash flow | -$288.0K | $182.8M | $367.6M | $120.0M | $44.7M |
| Free cash flow | -$167.0M | -$266.9M | -$139.2M | -$147.6M | -$148.8M |
| Capital expenditures | $229.0K | $135.0K | $1.6M | $1.0M | $328.0K |
| Depreciation & amortization | $633.0K | $795.0K | $575.0K | $620.0K | $521.0K |
| Share-based compensation | $28.7M | $24.0M | $45.0M | $24.1M | $16.8M |
| Change in accounts receivable | $39.3M | $37.2M | $1.6M | $0 | — |
| Change in inventory | $11.8M | $6.1M | $9.4M | $0 | — |
| Debt issued | $0 | $59.4M | $39.3M | $0 | $96.9M |
| Debt repaid | — | — | — | — | $54.1M |
Source: SEC EDGAR XBRL filings (10-Q/10-K), as originally tagged by the company. Quarterly cash flow is reconstructed by de-cumulating fiscal-year-to-date figures (how cash flow is tagged in 10-Qs); other quarterly lines are reported directly.
Institutional holders
SEC Form 13F filers holding PHAT as of the latest reported quarter. 13F only covers investment managers with $100M+ in assets — this is not a complete ownership picture, and does not include insiders (see Recent SEC filings below) or non-13F-eligible holders.
Insider activity
Directors, officers, and 10%+ owners' reported transactions from SEC Form 4. A filing reports a transaction; it does not by itself explain why it happened.
Source: SEC EDGAR Form 4 filings · checked 25 most recent filings · covers 2025-12-17 to 2026-10-06
Recent transactions
- Most recent: Narula Sanjeev (Chief Financial & Bus. Officer) — Tax withholding of 13,485 shares on 2026-10-06.
Deterministic template sentences filled in from the SEC Form 4 figures in the tables below -- not an AI-written summary, no live model call.
Insider purchases & sales, last 6 months
Counts only open-market purchases (code P) and sales (code S) — grants, option exercises, tax withholding, and gifts are excluded since they aren't a market buy/sell decision.
Insider roster
| Name | Title | Most Recent Transaction | Date | Shares |
|---|---|---|---|---|
| Narula Sanjeev | Chief Financial & Bus. Officer | Tax withholding | 2026-10-06 | 13,485 |
| Breedlove Robert Charles | Principal Accounting Officer | Tax withholding | 2026-09-03 | 460 |
| Parikh Asit | Reporting person | Gift | 2026-05-22 | 28,000 |
| Topper James N | Reporting person | Grant / award | 2026-05-19 | 24,122 |
| Stenhouse Mark | Reporting person | Grant / award | 2026-05-19 | 24,122 |
| FIELDS HEIDI | Reporting person | Grant / award | 2026-05-19 | 24,122 |
| COLA MICHAEL F | Reporting person | Grant / award | 2026-05-19 | 24,122 |
| KARBE FRANK | Reporting person | Grant / award | 2026-05-19 | 24,122 |
| Schroeder Theodore R | Reporting person | Grant / award | 2026-05-19 | 24,122 |
| Cook Anne Marie | Chief Legal Off. & Corp. Sec. | Grant / award | 2026-02-10 | 3,461 |
| Basta Steven L | President and CEO | Grant / award | 2026-02-10 | 12,362 |
Recent transactions
| Date | Insider | Title | Transaction | Shares | Price |
|---|---|---|---|---|---|
| 2026-10-06 | Narula Sanjeev | Chief Financial & Bus. Officer | Tax withholding | 13,485 | $6.78 |
| 2026-09-03 | Breedlove Robert Charles | Principal Accounting Officer | Tax withholding | 460 | $9.05 |
| 2026-07-14 | Breedlove Robert Charles | Principal Accounting Officer | Tax withholding | 1,555 | $11.04 |
| 2026-05-22 | Parikh Asit | Reporting person | Gift | 28,000 | $0.00 |
| 2026-05-22 | Parikh Asit | Reporting person | Gift | 28,000 | $0.00 |
| 2026-05-20 | Parikh Asit | Reporting person | Option exercise | 17,500 | $4.95 |
| 2026-05-19 | Parikh Asit | Reporting person | Grant / award | 24,122 | $0.00 |
| 2026-05-19 | Topper James N | Reporting person | Grant / award | 24,122 | $0.00 |
| 2026-05-19 | Stenhouse Mark | Reporting person | Grant / award | 24,122 | $0.00 |
| 2026-05-19 | FIELDS HEIDI | Reporting person | Grant / award | 24,122 | $0.00 |
| 2026-05-19 | COLA MICHAEL F | Reporting person | Grant / award | 24,122 | $0.00 |
| 2026-05-19 | KARBE FRANK | Reporting person | Grant / award | 24,122 | $0.00 |
| 2026-05-19 | Schroeder Theodore R | Reporting person | Grant / award | 24,122 | $0.00 |
| 2026-03-10 | Parikh Asit | Reporting person | Gift | 40,000 | $0.00 |
| 2026-03-10 | Parikh Asit | Reporting person | Gift | 40,000 | $0.00 |
| 2026-02-27 | Breedlove Robert Charles | Principal Accounting Officer | Grant / award | 13,000 | $0.00 |
| 2026-02-27 | Breedlove Robert Charles | Principal Accounting Officer | Grant / award | 2,790 | $0.00 |
| 2026-02-27 | Breedlove Robert Charles | Principal Accounting Officer | Tax withholding | 964 | $12.56 |
| 2026-02-27 | Breedlove Robert Charles | Principal Accounting Officer | Tax withholding | 414 | $12.56 |
| 2026-02-10 | Cook Anne Marie | Chief Legal Off. & Corp. Sec. | Grant / award | 3,461 | $0.00 |
| 2026-02-10 | Cook Anne Marie | Chief Legal Off. & Corp. Sec. | Tax withholding | 1,535 | $12.82 |
| 2026-02-10 | Basta Steven L | President and CEO | Grant / award | 12,362 | $0.00 |
| 2026-02-10 | Basta Steven L | President and CEO | Tax withholding | 6,277 | $12.82 |
| 2026-01-23 | Parikh Asit | Reporting person | Gift | 80,500 | $0.00 |
| 2026-01-23 | Parikh Asit | Reporting person | Gift | 80,500 | $0.00 |
| 2026-01-21 | Breedlove Robert Charles | Principal Accounting Officer | Tax withholding | 776 | $13.61 |
| 2026-01-13 | Parikh Asit | Reporting person | Option exercise | 8,750 | $10.30 |
| 2026-01-02 | Basta Steven L | President and CEO | Grant / award | 251,034 | $0.00 |
| 2026-01-02 | Cook Anne Marie | Chief Legal Off. & Corp. Sec. | Grant / award | 75,345 | $0.00 |
| 2026-01-02 | Narula Sanjeev | Chief Financial & Bus. Officer | Grant / award | 82,715 | $0.00 |
| 2025-12-19 | Parikh Asit | Reporting person | Option exercise | 8,750 | $10.30 |
| 2025-12-18 | Breedlove Robert Charles | Principal Accounting Officer | Tax withholding | 230 | $16.28 |
| 2025-12-17 | Cook Anne Marie | Chief Legal Off. & Corp. Sec. | Grant / award | 17,370 | $0.00 |
| 2025-12-17 | Cook Anne Marie | Chief Legal Off. & Corp. Sec. | Tax withholding | 7,703 | $15.36 |
| 2025-12-17 | Basta Steven L | President and CEO | Grant / award | 62,038 | $0.00 |
| 2025-12-17 | Basta Steven L | President and CEO | Tax withholding | 31,502 | $15.36 |
Recent SEC filings
Official company reports and insider transaction filings. Form 4 reports a transaction; it does not by itself explain why it happened.
Source: SEC EDGAR submissions · updated 2026-10-24 13:10 UTC
| Filed | Form | Report period | Official filing |
|---|---|---|---|
| 2026-10-23 | 8-K | 2026-10-23 | View on SEC.gov → |
| 2026-10-08 | 4 | 2026-10-06 | View on SEC.gov → |
| 2026-09-29 | 8-K | 2026-09-29 | View on SEC.gov → |
| 2026-09-08 | 4 | 2026-09-03 | View on SEC.gov → |
| 2026-07-30 | 10-Q | 2026-06-30 | View on SEC.gov → |
| 2026-07-30 | 8-K | 2026-07-30 | View on SEC.gov → |
| 2026-07-16 | 4 | 2026-07-14 | View on SEC.gov → |
| 2026-06-23 | 8-K | 2026-06-23 | View on SEC.gov → |
| 2026-05-27 | 4 | 2026-05-22 | View on SEC.gov → |
| 2026-05-21 | 4 | 2026-05-19 | View on SEC.gov → |
| 2026-05-21 | 4 | 2026-05-19 | View on SEC.gov → |
| 2026-05-21 | 4 | 2026-05-19 | View on SEC.gov → |
Recent news
Headlines about PHAT (Phathom Pharmaceuticals, Inc.). Links open the publisher — we don’t host full articles.
-
Market Movers | Winners: NAUT, QSI, RHI | Losers: LKQ, CORT, PHAT
Trefis · 2026-10-24 -
Phathom Pharmaceuticals, Inc. Estimates – NASDAQ:PHAT
TradingView · 2026-10-24 -
(PHAT) Volatility Zones as Tactical Triggers
Stock Traders Daily · 2026-10-24 -
Phathom Pharmaceuticals (PHAT) Shares Drop 18% Amid FDA Lawsuit Over Voquezna Generic Application
GuruFocus · 2026-10-23 -
Phathom Pharmaceuticals reports lawsuit over Voquezna exclusivity By Investing.com
Investing.com Canada · 2026-10-23 -
Form 8K Phathom Pharmaceuticals Inc For: 23 October By Investing.com
Investing.com Australia · 2026-10-23 -
Phathom falls as FDA sued over refusal to accept ANDA for generic Voquezna
Seeking Alpha · 2026-10-23 -
PHAT Stock Eyes Worst Day In Nearly Two Years After Generic Drug Maker Challenges Key Drug’s Exclusivity
Yahoo · 2026-10-23
No headlines in this category right now — try “All”.