PHAT
Phathom Pharmaceuticals, Inc. Health Care Pharmaceutical Preparations Russell 3000
$5.74Close
$409.9MMarket cap
$5.74 – $18.0852-week range
Jan 28, 2027Next report · estimated
Highlights
Cautions
- Not in an uptrend 0 of 8 trend conditions
- Lagging the market RS 2 · weaker than 98% of stocks over 12 months
- Far from its high 68% below its 52-week high
- Financial distress Altman Z″ in the distress zone
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
68%
1wk
0.0%
price change
1mo
down 21.4%
price change
12-month return
down 57%
market up 11% ·
its own down 68%
F-score
3 / 9
Weak
Altman Z
-8.58
Elevated risk
P/E
—
price / earnings
PEG
—
P/E / EPS growth
P/B
—
price / book
Earnings yield
down 32.7%
EBIT / enterprise value
Cheaper than
2%
of the market · expensive
Revenue growth
up 217%
year on year
EPS growth
—
latest quarter
Sales growth
up 71%
latest quarter · -17 pts
ROE
—
return on equity
Free cash margin
down 95%
-$167.0M FCF
D/E
—
long-term debt / equity
Net debt / EBITDA
—
Interest cover
—EBIT / interest
Piotroski tests
- not yet profitable on its assets
- operating cash flow is negative
- profits not fully backed by cash
- took on more long-term debt
- short-term liquidity weakened
- issued more shares
- profitability improving
- gross margin widened
- assets working harder
Repair signals
- Gross margin 85.6% → 87.1%
Trade setup
ATR%
10.1%
$0.58 a day · 2×ATR $4.58
RS
2 / 99
vs the universe
Trend
0 / 8
trend template
Relative volume
1.2×
vs 50-day average
Up/down volume
0.89
50 sessions
Implied move
—
no scheduled report
Trend template · 0 of 8
Screen verdict
Did not qualify for any screen.
Warning signs
- Liabilities exceed assets Shareholders' equity is negative at -$438.2M as of Dec 31, 2025. What is left for shareholders after creditors is, on the balance sheet, less than nothing.
- Bankruptcy model reads distressed The Altman score sits inside the range historically associated with financial distress. It is used here only to exclude, never to rank, and it is a statistical band rather than a prediction about this company.
- Shareholders diluted The share count rose 4.2% over the year, from 69m to 71m shares. Each existing share owns a smaller fraction of the company than it did a year ago.
Last reported
Oct 29, 2026
Last shock
Jul 30, 2026-22% in one session6.5× volumeon results-36% since
Financials
- Gross 87%
- Net -0%
- Free cash -95%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | — | — | $0 | $682,000 | $55.3M | $175.1M |
| Gross margin | — | — | — | 76% | 86% | 87% |
| Operating income | -$125.7M | -$135.1M | -$172.4M | -$167.3M | -$277.5M | -$160.0M |
| Net income | -$129.1M | -$143.9M | -$197.7M | -$201,590 | -$334,330 | -$221,250 |
| Net margin | — | — | — | -30% | -1% | -0% |
| Earnings per share | — | -$3.89 | -$5.05 | -$0.00 | -$0.01 | -$0.00 |
| Free cash flow | -$70.7M | -$148.8M | -$147.6M | -$139.2M | -$266.9M | -$167.0M |
| Free cash margin | — | — | — | -20413% | -483% | -95% |
| Cash | $287.5M | $183.3M | $155.4M | $381.4M | $297.3M | $130.0M |
| Long-term debt | $39.6M | $89.7M | $95.3M | $137.8M | $201.4M | $209.1M |
| Shareholders' equity | $194.3M | $72.2M | -$74.8M | -$72.8M | -$253.6M | -$438.2M |
| Shares outstanding | 28.52m | 30.51m | 41.47m | 57.97m | 68.52m | 71.42m |
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Oct 29, 2026 | Quarterly ↗ | Sep 30, 2026 | 29d |
| Jul 30, 2026 | Quarterly ↗ | Jun 30, 2026 | 30d |
| Apr 30, 2026 | Quarterly ↗ | Mar 31, 2026 | 30d |
| Feb 26, 2026 | Annual ↗ | Dec 31, 2025 | 57d |
| Oct 30, 2025 | Quarterly ↗ | Sep 30, 2025 | 30d |
| Aug 7, 2025 | Quarterly ↗ | Jun 30, 2025 | 38d |
| May 1, 2025 | Quarterly ↗ | Mar 31, 2025 | 31d |
| Mar 6, 2025 | Annual ↗ | Dec 31, 2024 | 65d |
| Nov 7, 2024 | Quarterly ↗ | Sep 30, 2024 | 38d |
| Aug 8, 2024 | Quarterly ↗ | Jun 30, 2024 | 39d |
| May 9, 2024 | Quarterly ↗ | Mar 31, 2024 | 39d |
| Mar 7, 2024 | Annual ↗ | Dec 31, 2023 | 67d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 29, 2026 | Results ↗ |
| Oct 26, 2026 | Other events ↗ |
| Oct 23, 2026 | Other events ↗ |
| Sep 29, 2026 | Other events ↗ |
| Jul 30, 2026 | Results ↗ |
| Jun 23, 2026 | Other events ↗ |
| May 21, 2026 | Shareholder vote ↗ |
| Apr 30, 2026 | Results ↗ |
| Feb 26, 2026 | Results ↗ |
| Jan 8, 2026 | Other events ↗ |
| Jan 7, 2026 | Results ↗ |
| Nov 4, 2025 | Other events ↗ |