Phathom Pharmaceuticals, Inc.
PHATNasdaqHealthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $175.1M | $55.3M | $682,000 | $0 | — | — |
| Operating income | −$160.0M | −$277.5M | −$167.3M | −$172.4M | −$135.1M | −$20.4M |
| Net income | −$221.2M | −$334.3M | −$201.6M | −$197.7M | −$143.9M | −$20.1M |
| Total assets | $259.1M | $378.3M | $413.8M | $164.8M | $189.4M | $295.1M |
| Total liabilities | $697.3M | $631.9M | $486.6M | $239.6M | $117.3M | $100.8M |
| Equity | −$438.2M | −$253.6M | −$72.8M | −$74.8M | $72.2M | $194.3M |
| EPS (diluted) | $-3.03 | $-5.29 | $-3.93 | $-5.05 | $-3.89 | — |
| Shares out. | 69.6M | 58.5M | 42.0M | 31.7M | 31.3M | 29.0M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −91.4%
- Net margin
- −126.3%
- Return on equity
- 50.5%
- Return on assets
- −85.4%
- Return on capital (ROCE)
- −125.9%
- Liabilities / assets
- 269.1%
- Debt / equity
- —
- Book value / share
- $-6.29
- Revenue growth (YoY)
- 216.9%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -21.03distress
- Accruals / assets
- −21.0%clean
- Beneish M-Score
- -1.34elevated
- Piotroski F-Score
- 4/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 2 severe● 5 warning● 3 good- Negative shareholder equity
- Altman Z″ in the distress zone
- Operating losses (negative operating margin)
- Reported a net loss
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Beneish M-Score elevated — earnings-manipulation screen flag
- Strong return on equity (>15%)
- Revenue is growing year-over-year
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
FDA-approved drugs
openFDA · most recent- VOQUEZNANov 1, 2023
- VOQUEZNA DUAL PAKMay 3, 2022
- VOQUEZNA TRIPLE PAKMay 3, 2022
Clinical trials
ClinicalTrials.gov · ongoing · next readout firstInterventional studies led by this company. “Readout” is the trial's primary-completion date — an estimate the sponsor reports, not a guarantee.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Millennium Management LlcPassive (13G)Mar 12, 2026
- Frazier Life Sciences Public Fund, L.P.Activist (13D)Nov 4, 2025
- Carlyle Group Inc.Passive (13G)Aug 28, 2025
- Jennison Associates LlcPassive (13G)Jun 9, 2025
- Prudential Financial IncPassive (13G)Jun 6, 2025
- Blackrock, Inc.Passive (13G)Apr 24, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Cola Michael FDirector | May 19, 2026 | Grant | 24,122 | $0.00 |
| Schroeder Theodore RDirector | May 19, 2026 | Grant | 24,122 | $0.00 |
| Parikh AsitDirector | Mar 10, 2026 | Gift | 40,000 | $0.00 |
| Breedlove Robert CharlesOfficer — Principal Accounting Officer | Feb 27, 2026 | Grant | 13,000 | $0.00 |
| Cook Anne MarieOfficer — Chief Legal Off. & Corp. Sec. | Feb 10, 2026 | Grant | 3,461 | $0.00 |
| Basta Steven LOfficer — President and CEO | Feb 10, 2026 | Grant | 12,362 | $0.00 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 10.3M | 8.7 | +5.7% |
| Apr 30, 2026 | 9.7M | 5.9 | +2.5% |
| Apr 15, 2026 | 9.5M | 9.9 | -10.7% |
| Mar 31, 2026 | 10.6M | 9.2 | -8.8% |
| Mar 13, 2026 | 11.7M | 10.9 | +4.4% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Shareholder voteMay 21, 2026
- Results of operationsApr 30, 2026
- Results of operationsFeb 26, 2026
- Other material eventJan 8, 2026
- Results of operationsJan 7, 2026
- Other material eventNov 4, 2025
- Results of operationsOct 30, 2025
- Other material eventOct 27, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (1)
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