Phathom Pharmaceuticals, Inc. PHAT R2K
Healthcare · Biotechnology · United States
Phathom Pharmaceuticals, Inc., a biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases in the United States. It develops VOQUEZNA, which has completed Phase III clinical trials for the treatment of erosive gastroesophageal reflux disease (GERD) and related heartburn in adults; and VOQUEZNA Triple Pak and VOQUEZNA Dual Pak that have completed Phase III clinical trials for treating Helicobacter pylori, as well as VOQUEZNA and vonoprazan for the treatment of heartburn associated with non-erosive GERD and eosinophilic esophagitis in adults and adolescents. The company was incorporated in 2018 and is headquartered in Florham Park, New Jersey.
READ MORE ›$9.59
+125.65% 1Y
Market & Price
Market Cap
$764.86M
Current Price
$9.59
High / Low (52W)
$18.08 / $4.25
Beta
0.57
Valuation
Stock P/E
-
Industry PE
23.65
Forward P/E
6.66
PEG Ratio
-
Book Value
$-4.24
Price to Book
-2.26
P/S
3.73
EV/EBITDA
-11.78
Dividend Yield
-
Profitability & Returns
ROCE
-120.48%
ROE
-
ROA
-20.15%
Profit Margin
-76.77%
Op Margin
-26.55%
EPS (Latest Qtr)
$-0.37
EPS (TTM)
$-2.09
Balance Sheet & Liquidity
Debt/Equity
-
Quick Ratio
2.09
Current Ratio
2.21
Debt
$547.22M
Total Assets
$259.15M
Current Assets
$228.97M
Working Capital
$96.93M
Ownership
Promoter Holding
4.73%
Chg in Prom Hold
-
FII / Inst Holding
88.44%
Chg in FII Hold
-
Financial Snapshot
Enterprise Value
$1.13B
Total Revenue (TTM)
$204.89M
EBITDA
$-96.03M
Free Cash Flow
$-77.53M
Operating Cash Flow
$-97.49M
Shares Outstanding
79.76M
Gross Margin
84.93%
Payout Ratio
0.00%
Growth (CAGR)
Revenue 5Y
-
Profit 5Y
-3.97%
Revenue (YoY)
104.40%
Earnings (YoY)
-
PROS
No notable strengths flagged.
CONS
- Earnings shrank at -4.0% CAGR over 5 years.
- Trading 47.0% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Healthcare).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | PHAT Phathom Pharmaceuticals, Inc. R2K | 9.59 | - | $764.86M | - | -120.48% | - | - | -3.97% |
| 2 | LLY Eli Lilly and Company SPX | 1,105.00 | 39.21 | $985.37B | 0.63% | 38.44% | 107.46% | 31.69% | 48.96% |
| 3 | JNJ Johnson & Johnson SPX | 225.33 | 26.11 | $542.42B | 2.38% | 23.13% | 26.42% | 5.60% | 14.32% |
| 4 | UNH UnitedHealth Group Incorporated SPX | 380.31 | 28.66 | $345.38B | 2.32% | 9.60% | 12.18% | 11.35% | -15.69% |
| 5 | MRK Merck & Co., Inc. SPX | 118.72 | 33.44 | $293.22B | 2.86% | 20.66% | 18.94% | 3.12% | 7.93% |
| 6 | TMO Thermo Fisher Scientific Inc. SPX | 492.51 | 27.11 | $183.03B | 0.38% | 9.17% | 13.52% | -0.27% | -1.19% |
| 7 | AMGN Amgen Inc. NDXSPX | 336.79 | 23.42 | $181.77B | 2.99% | 18.02% | 101.32% | 11.77% | 5.58% |
| 8 | GILD Gilead Sciences, Inc. NDXSPX | 134.43 | 18.29 | $166.90B | 2.44% | 22.92% | 43.36% | 2.57% | 22.83% |
| 9 | ISRG Intuitive Surgical, Inc. NDXSPXAI | 424.64 | 51.53 | $150.39B | - | 15.96% | 17.23% | 17.39% | 29.26% |
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Quarterly Results
Figures in USD.
| Metric | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 1.91M | 7.32M | 16.35M | 28.52M | 39.50M | 49.50M | 57.58M | 58.30M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.72M | 5.04M | 6.19M | 7.65M | 12.00M |
| Gross Profit | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 1.49M | 5.95M | 14.00M | 24.80M | 34.47M | 43.31M | 49.94M | 46.30M |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 103.66M | 94.39M | 58.59M | 55.86M | 61.78M |
| Operating Income | -251.00K | -255.00K | -268.00K | -451.00K | -1.23M | -83.01M | -6.28M | -15.69M | -20.38M | -20.02M | -32.83M | -52.44M | -33.58M | -35.32M | -33.14M | -37.91M | -45.36M | -42.53M | -30.08M | -31.70M | -35.66M | -69.95M | -77.30M | -70.80M | -78.86M | -59.92M | -15.27M | -5.93M | -15.48M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -76.07M | -58.12M | -13.71M | -4.60M | -14.46M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 18.07M | 17.52M | 16.11M | 16.42M | 15.80M |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -94.32M | -75.81M | -29.97M | -21.15M | -30.37M |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Income | -254.00K | -260.00K | -290.00K | -484.00K | -1.25M | -87.76M | -68.11M | -98.01M | -20.14M | -21.10M | -34.10M | -53.72M | -34.84M | -36.55M | -36.66M | -40.66M | -50.92M | -51.09M | -37.81M | -40.97M | -43.24M | -82.85M | -91.45M | -85.58M | -94.32M | -75.81M | -29.97M | -21.15M | -30.37M |
| Diluted EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | -1.00 | -0.98 | -1.07 | -1.33 | -1.32 | -0.89 | -0.84 | -0.76 | -1.42 | -1.56 | -1.32 | -1.31 | -1.05 | -0.41 | -0.29 | -0.37 |
| R&D Expense | - | - | 6.00K | 14.00K | 429.00K | 2.77M | 4.47M | 12.70M | 15.87M | 14.86M | 25.77M | 41.65M | 20.58M | 21.60M | 16.61M | 17.66M | 18.82M | 19.02M | 11.48M | 12.76M | 12.26M | 9.43M | 7.38M | 8.69M | 9.18M | 9.08M | 7.03M | - | 7.77M |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | 0 | 682.00K | 55.25M | 175.11M |
| Cost of Revenue | - | - | - | - | 0 | 167.00K | 7.97M | 22.60M |
| Gross Profit | - | - | - | - | 0 | 515.00K | 47.28M | 152.51M |
| Operating Expenses | - | - | - | - | 172.44M | 167.83M | 324.75M | 312.50M |
| Operating Income | -1.23M | -106.22M | -125.67M | - | -172.44M | -167.31M | -277.47M | -159.99M |
| EBITDA | - | - | - | - | -169.80M | -159.05M | -261.52M | -152.50M |
| Interest Expense | - | - | - | - | 27.30M | 41.97M | 72.01M | 68.11M |
| Pretax Income | - | - | - | - | -197.72M | -201.59M | -334.33M | -221.25M |
| Tax Provision | - | - | - | - | - | - | - | - |
| Net Income | -1.29M | -255.13M | -129.07M | - | -197.72M | -201.59M | -334.33M | -221.25M |
| Diluted EPS | - | - | - | - | -5.05 | -3.93 | -5.29 | -3.03 |
| R&D Expense | 20.00K | 20.37M | 98.15M | 72.34M | 71.44M | 49.90M | 34.08M | 32.78M |
Compounded Sales Growth
| 5 Years: | - |
| 1 Year: | 104.40% |
Compounded Profit Growth
| 5 Years: | -3.97% |
| 1 Year: | - |
Stock Price Performance
| 1 Year: | +125.65% |
| 6 Months: | -35.77% |
| 3 Months: | -23.65% |
| 1 Month: | -18.59% |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | - | 902.00K | 257.18M | 295.11M | - | 164.81M | 413.84M | 378.32M | 259.15M |
| Current Assets | - | - | - | - | - | 160.51M | 397.43M | 360.13M | 228.97M |
| Cash & Equivalents | - | 879.00K | 243.76M | 287.50M | - | 155.38M | 381.39M | 297.26M | 129.97M |
| Inventory | - | - | - | - | - | 0 | 1.21M | 3.21M | 5.52M |
| Receivables | - | - | - | - | - | 0 | 1.64M | 38.80M | 78.13M |
| Total Liabilities | - | 2.19M | 29.22M | 100.84M | - | 239.62M | 486.60M | 631.90M | 697.32M |
| Current Liabilities | - | 2.19M | 3.75M | 55.52M | - | 26.24M | 38.78M | 85.73M | 132.04M |
| Long Term Debt | - | - | 22.78M | 39.63M | - | 95.26M | 137.84M | 201.41M | 209.09M |
| Total Debt | - | - | - | - | - | 97.07M | 139.03M | 201.91M | 211.80M |
| Total Equity | 0 | -1.29M | 227.96M | 194.27M | - | -74.81M | -72.76M | -253.58M | -438.17M |
| Shares Outstanding | - | - | - | - | - | 41.47M | 57.97M | 68.52M | 71.42M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -1.02M | -36.51M | -69.69M | - | -146.53M | -137.58M | -266.77M | -166.78M |
| Investing Cash Flow | - | -25.25M | -1.04M | - | -1.04M | -1.63M | -135.00K | -229.00K |
| Financing Cash Flow | 1.90M | 304.65M | 114.46M | - | 120.04M | 367.58M | 182.77M | -288.00K |
| Capital Expenditure | - | -132.00K | -1.04M | - | -1.04M | -1.63M | -135.00K | -229.00K |
| Free Cash Flow | - | -36.64M | -70.73M | - | -147.57M | -139.21M | -266.90M | -167.00M |
| Net Change in Cash | - | - | - | - | -27.53M | 228.37M | -84.13M | -167.29M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin % | - | - | - | - | - | 75.5% | 85.6% | 87.1% |
| Operating Margin % | - | - | - | - | - | -24,532.6% | -502.2% | -91.4% |
| Net Margin % | - | - | - | - | - | -29,558.9% | -605.1% | -126.3% |
| ROE % | 100.2% | -111.9% | -66.4% | - | 264.3% | 277.1% | 131.8% | 50.5% |
| ROCE % | 95.3% | -41.9% | -52.5% | - | -124.4% | -44.6% | -94.8% | -125.9% |
Shareholding Pattern
Insiders
4.73%
Institutions
88.44%
Public Float
92.83%
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Frazier Life Sciences Management, L.P. | 15.63% | 12.47M | $119.55M |
| 2 | Medicxi Ventures Management (Jersey) Ltd | 9.36% | 7.46M | $71.59M |
| 3 | Invesco Ltd. | 5.42% | 4.32M | $41.45M |
| 4 | Blackrock Inc. | 5.09% | 4.06M | $38.95M |
| 5 | Millennium Management Llc | 5.04% | 4.02M | $38.58M |
| 6 | Carlyle Group Inc. | 4.38% | 3.50M | $33.53M |
| 7 | Vanguard Capital Management LLC | 3.24% | 2.58M | $24.78M |
| 8 | NEA Management Company, LLC | 2.46% | 1.96M | $18.80M |
| 9 | 683 Capital Management LLC | 2.32% | 1.85M | $17.74M |
| 10 | Ensign Peak Advisors, Inc | 2.04% | 1.63M | $15.61M |
Analyst View
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Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
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