8-K ·Filed Feb 26, 2026

PHAT

Phathom Pharmaceuticals, Inc.
BULLISH
Impact 8/10
Horizonmonths Processed7mo ago SEC0001193125-26-073377
8-K Item 2.02: Earnings release
Actionable Insight ▲ Bullish

The combination of strong revenue growth, successful $130 million capital raise, and clear path to profitability in 2026 makes PHAT a compelling biotech investment. Traders should monitor prescription growth trends and the company's ability to meet its 2026 guidance.

DirectionBullish
Confidencehigh
Horizonmonths
Final — all horizons settled through T+60d
PHAT ▼ -14.60% at T+60d
LONG call ✗ call lost -14.60% · α vs SPY -22.35% · entry $13.56 → $11.58
Entry anchored
Feb 25, 03:59 PM ET
via exchange tick
T+1d
-7.37%
call -7.37% · α -6.92%
$12.56
settled 7mo ago
T+5d
-20.80%
call -20.80% · α -19.67%
$10.74
settled 7mo ago
T+20d
-20.43%
call -20.43% · α -14.03%
$10.79
settled 6mo ago
T+60d
-14.60%
call -14.60% · α -22.35%
$11.58
settled 4mo ago

Price Chart

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Executive Summary

Phathom Pharmaceuticals reported strong financial results for Q4 and full year 2025, with revenue of $57.6 million in Q4 and $175.1 million for the full year, representing a 217% increase from 2024. The company also announced $130 million in gross proceeds from an equity offering and provided 2026 guidance with expected operating profitability beginning in Q3 2026.

Key Financial Metrics

Revenue
$175.1M
+217.0% YoY
Adj. EPS
$-0.08
GAAP: $-0.29
Guidance
$320-$345 million
initiated
Gross Margin
80%

Key Facts

  • Q4 2025 revenue was $57.6 million, up from $29.7 million in Q4 2024
  • Full year 2025 revenue was $175.1 million, a 217% increase from $55.3 million in 2024
  • Company completed $130 million equity offering in January 2026
  • Provided 2026 guidance with net revenues of $320-345 million and expected operating profitability beginning in Q3 2026
  • Over 1.1 million total VOQUEZNA prescriptions filled as of February 13, 2026

Financial Impact

Revenue increased 217% year-over-year to $175.1 million in 2025, with 2026 guidance projecting $320-345 million in net revenues

revenueoperating expensescash position

Segment Breakdown

SegmentRevenueGrowth
VOQUEZNA$175.1M+217.0%

Risk Factors

  • Forward-looking statements about achieving profitability in Q3 2026
  • Dependence on continued VOQUEZNA prescription growth
  • Potential competition in the GERD treatment market

Market Snapshot

Exchange
Nasdaq

Investment Themes

Biotech & Drug Discovery

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001193125-26-073377
Document: d119012d8k.htm0001193125-26-073377
Document: 0001193125-26-073377-index-headers.html0001193125-26-073377
Document: 0001193125-26-073377-index.html0001193125-26-073377
Document: 0001193125-26-073377.txt0001193125-26-073377
8 reports for PHAT
Performance horizon

Track record builds as more directional reports settle.

Filters
Rows
Reports for PHAT — sortable, filterable
TypeNow
Jul 30, 2026
9w ago
8-K
MIXED ★ 5/10
$9.03 $8.94▼ −1.00%▼ −4.96%$6.92 (−23.37%)
Jul 30, 2026
9w ago
Press Release
BEARISH ★ 6/10
$9.03 $8.94▲ +1.00%▲ +4.96%$6.92 (+23.37%)
Jul 20, 2026
10w ago
Press Release
BEARISH ★ 7/10
$10.65 $9.28▲ +12.86%▲ +16.98%$6.92 (+35.02%)
May 20, 2026
19w ago
Press Release
NEUTRAL ★ 3/10
$11.87 $10.88▼ −8.34%▼ −9.08%$6.92 (−41.70%)
May 1, 2026
22w ago
Press Release
NEUTRAL ★ 1/10
$12.01 $9.24▼ −23.06%▼ −28.35%$6.92 (−42.38%)
Apr 30, 2026
22w ago
Press Release
MIXED ★ 5/10
$11.20 $10.32▼ −7.86%▼ −12.82%$6.92 (−38.21%)
Apr 7, 2026
25w ago
DEFA14A
NEUTRAL ★ 3/10
$11.55 $12.87▲ +11.43%▲ +1.65%$6.92 (−40.09%)
Feb 26, 2026
31w ago
8-K
BULLISH ★ 8/10
$13.56 $10.79▼ −20.43%▼ −14.03%$6.92 (−48.97%)
Showing 8 of 8

US Market Status

Market Closed — Opens Mon (39h 25m)

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