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.
Price Chart
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
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
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| 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
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-073377 |
| Document: d119012d8k.htm | 0001193125-26-073377 |
| Document: 0001193125-26-073377-index-headers.html | 0001193125-26-073377 |
| Document: 0001193125-26-073377-index.html | 0001193125-26-073377 |
| Document: 0001193125-26-073377.txt | 0001193125-26-073377 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 30, 2026 9w ago | 8-K | $9.03 $8.94 | ▼ −1.00% | ▼ −4.96% | $6.92 (−23.37%) |
Jul 30, 2026 9w ago | Press Release | $9.03 $8.94 | ▲ +1.00% | ▲ +4.96% | $6.92 (+23.37%) |
Jul 20, 2026 10w ago | Press Release | $10.65 $9.28 | ▲ +12.86% | ▲ +16.98% | $6.92 (+35.02%) |
May 20, 2026 19w ago | Press Release | $11.87 $10.88 | ▼ −8.34% | ▼ −9.08% | $6.92 (−41.70%) |
May 1, 2026 22w ago | Press Release | $12.01 $9.24 | ▼ −23.06% | ▼ −28.35% | $6.92 (−42.38%) |
Apr 30, 2026 22w ago | Press Release | $11.20 $10.32 | ▼ −7.86% | ▼ −12.82% | $6.92 (−38.21%) |
Apr 7, 2026 25w ago | DEFA14A | $11.55 $12.87 | ▲ +11.43% | ▲ +1.65% | $6.92 (−40.09%) |
Feb 26, 2026 31w ago | 8-K | $13.56 $10.79 | ▼ −20.43% | ▼ −14.03% | $6.92 (−48.97%) |
US Market Status
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