Phathom Pharmaceuticals, Inc.
PHAT
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Fundamentals
| Market cap | $576.82M | Enterprise value | $946.37M | Trailing P/E | — | Forward P/E | 6.62 |
| PEG | — | Price / book | -1.66 | Beta | 0.50 | Dividend yield | 0.00% |
| Revenue growth | 88.0% | Earnings growth | — | Gross margin | 82.9% | Operating margin | -5.3% |
| Profit margin | -41.3% | ROE | — | ROA | -8.8% | Debt / equity | — |
| Current ratio | 1.92 | Free cash flow | -$32.63M | Analyst recommendation | strong_buy | Mean target | $20.45 |
| 52w high | $18.31 | 52w low | $6.52 |
Quarterly
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | |
|---|---|---|---|---|---|
| Revenue | $74.3M | $58.3M | $57.6M | $49.5M | $39.5M |
| Op margin | -5.3% | -26.5% | -10.3% | -30.8% | -151.7% |
| Net income | -$17.6M | -$30.4M | -$21.1M | -$30.0M | -$75.8M |
| Gross margin | 79.7% | 79.4% | 86.7% | 87.5% | 87.2% |
| Gross profit | $59.2M | $46.3M | $49.9M | $43.3M | $34.5M |
| Operating income | -$4.0M | -$15.5M | -$5.9M | -$15.3M | -$59.9M |
- Revenue +27% vs prior quarter ($74M vs $58M).
- Gross margin 79.7% (was 79.4% prior quarter).
- Operating margin expanded to -5.3%.
Yearly (6y)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $175M | $55.3M | $0.7M | $0.0M | — |
| Op margin | -91.4% | -502.2% | -24532.6% | — | — |
| Net income | -$221M | -$334M | -$202M | -$198M | — |
| Gross margin | 87.1% | 85.6% | 75.5% | — | — |
| Gross profit | $153M | $47.3M | $0.5M | $0.0M | — |
| Operating income | -$160M | -$277M | -$167M | -$172M | — |
No flags
• No distress or material-risk keywords in recent headlines (keyword scan only — not a guarantee).
News
2026-09-29 · Phathom Pharmaceuticals Starts Registrational Phase 3 Voquezna Study
2026-09-09 · PHAT Stock Falls 7% As Leerink Sees Little Near-Term Upside — CEO Plays Down Upcoming Rival
2026-09-09 · Leerink Partners Initiates Coverage on Phathom Pharmaceuticals With Market Perform, $10 PT
2026-09-01 · Phathom Pharmaceuticals to Participate in Upcoming Investor Conferences
2026-08-16 · Phathom Pharmaceuticals (PHAT) Stock Sees Modest Fair Value Cut After Analyst Target Cuts
2026-07-30 · PHAT Stock Clocks Worst Day In Over 1.5 Years — What Sparked The Selloff?
2026-07-30 · Phathom Pharmaceuticals Q2 Earnings Call Highlights
2026-07-30 · Phathom Pharmaceuticals Inc (PHAT) (Q2 2026) Earnings Call Highlights: First Positive Operating ...
2026-07-30 · Phathom Pharmaceuticals, Inc. (PHAT) Reports Break-Even Earnings for Q2
2026-07-30 · Phathom Pharmaceuticals Q2 Adjusted Loss Narrows, Revenue Rises
Price (daily)
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