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PHATPhathom Pharmaceuticals, Inc.
$6.99$557M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
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PHAT logo

Phathom Pharmaceuticals, Inc.

PHAT
NASDAQ · Biotechnology
$6.99
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$557M
P/E-2.3x
52W High$18.31
Volume1.04M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Rapid Revenue Inflection Masks Deep Structural Insolvency

Phathom Pharmaceuticals appears to be at a critical commercial inflection point, with quarterly revenue accelerating from near-zero to $74.3M and operating losses narrowing dramatically as the commercial launch gains traction. However, the investment case is h...

GrowthAccelerating
ProfitabilityStrained
ValuationReview
TechnicalsWeak
Explore valuation models
MARKET ACTION

PHAT price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

5/12 Beats

EPS beat 5 of last 12 quarters

02

Valuation risk

-111% Peers

P/E is 111% below peer median

03

Market leadership

RS 10 · Lag

Laggard (Underperforming 90% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Oct 30

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
PHAT-55.54%
S&P 500 (^GSPC)+12.39%
1-Year Return
PHAT-41.30%
S&P 500 (^GSPC)+15.77%
3-Year Return
PHAT-33.35%
S&P 500 (^GSPC)+66.06%
5-Year Return
PHAT-78.87%
S&P 500 (^GSPC)+57.52%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E
-2.3x
Forward P/E
N/A
EV/EBITDA
N/A
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-2.3x
N/A
N/A
EV/EBITDA
N/A
N/A
N/A
Price/FCF
N/A
N/A
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$0.50-92.8%
Base (Fair)$16.20+28.5%
Bull$0.25-96.4%
$0.50 Bear$16.20 Base$0.25 Bull
Current Market Price: $6.99
Trades at a 56.9% discount to Base DCF ($16.20)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$175M+216.9% YoY
Net income
-$221M+33.8% YoY
Free cash flow
-$167M+37.5% YoY
Operating margin
-91.4%+410.8 pts YoY
ROIC (TTM)-
Avg ROIC 5Y-
ROE (TTM)-
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate5/12 (42%)
Revenue Beat Rate7/12 (64%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 30, 2026
-$0.21-19.6%
vs -$0.18
$74M+1.4%
vs $73M
Q2 2026
Apr 30, 2026
-$0.37-37.0%
vs -$0.27
$58M+4.3%
vs $56M
Q1 2026
Feb 26, 2026
-$0.29+9.2%
vs -$0.32
$58M+0.7%
vs $57M
Q4 2025
Oct 30, 2025
-$0.41-2.5%
vs -$0.40
$50M+5.3%
vs $47M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Defense World·Sep 17, 2026
Phathom Pharmaceuticals (NASDAQ:PHAT) Reaches New 12-Month Low – Time to Sell?

Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday. The stock traded as low as $7.66 and last traded at $7.69, with a volume of 2071393 shares traded. The stock had previously closed at $8.16. Analyst Ratings Changes Several equities analysts have recently weighed

GlobeNewsWire·Sep 1, 2026
Phathom Pharmaceuticals to Participate in Upcoming Investor Conferences

FLORHAM PARK, N.J., Sept. 01, 2026 (GLOBE NEWSWIRE) -- Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on commercializing and developing novel treatments for gastrointestinal (GI) diseases, announced today that members of its management team are scheduled to participate in the following upcoming investor conferences in September:

Seeking Alpha·Jul 30, 2026
Phathom Pharmaceuticals, Inc. (PHAT) Q2 2026 Earnings Call Transcript

Phathom Pharmaceuticals, Inc. (PHAT) Q2 2026 Earnings Call Transcript

GlobeNewsWire·Jul 20, 2026
Phathom Pharmaceuticals to Report Second Quarter 2026 Financial Results and Provide Business Update on Thursday, July 30, 2026

Management to host conference call on Thursday, July 30, 2026, at 8:00 am EDT Management to host conference call on Thursday, July 30, 2026, at 8:00 am EDT

Filtered for Phathom Pharmaceuticals, Inc.More Headlines
04

Compare before deciding

Benchmark PHAT against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Phathom Pharmaceuticals, Inc. (PHAT)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
PHAT logoPHATPhathom Pharmaceuticals, Inc.Current
$6.99$557.09M-2.31216.93%-126.35%——
ACAD logoACADACADIA Pharmaceuticals Inc.
$25.43$4.35B11.1011.87%33.42%32.39%—
SUPN logoSUPNSupernus Pharmaceuticals, Inc.
$43.39$2.52B-63.818.63%-13.23%-10.42%—
PRGO logoPRGOPerrigo Company plc
$13.84$1.92B-1.35-2.75%-41.85%-55.97%—
IRWD logoIRWDIronwood Pharmaceuticals, Inc.
$4.27$702.9M28.47-15.72%33.36%——
PTGX logoPTGXProtagonist Therapeutics, Inc.
$138.70$8.92B-67.66-89.41%29.4%12.03%—

Compare PHAT vs Peers

Phathom Pharmaceuticals, Inc. (PHAT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ACAD

Most directly comparable listed peer for PHAT.

Scale Benchmark

vs PFE

Larger-name benchmark to compare PHAT against a more recognizable public peer.

Peer Set

Compare Top 5

vs ACAD, SUPN, PRGO, IRWD

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

PHAT SEC Filings & Documents

Phathom Pharmaceuticals, Inc. (PHAT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 30, 2026·SEC

Material company update

Jun 23, 2026·SEC

Material company update

May 21, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Mar 6, 2025·SEC

FY 2024

Mar 7, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Jul 30, 2026·SEC

FY 2026

Apr 30, 2026·SEC

FY 2025

Oct 30, 2025·SEC

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PHAT Frequently Asked Questions

Phathom Pharmaceuticals, Inc. (PHAT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Phathom Pharmaceuticals, Inc.'s revenue?

Phathom Pharmaceuticals, Inc. (PHAT) reported $239.7M in revenue for fiscal year 2025.

How fast is Phathom Pharmaceuticals, Inc. growing?

Phathom Pharmaceuticals, Inc. (PHAT) grew revenue by 216.9% over the past year. This is strong growth.

Is PHAT profitable?

Phathom Pharmaceuticals, Inc. (PHAT) reported a net loss of $81.5M for fiscal year 2025.

Dividend & Returns
What is Phathom Pharmaceuticals, Inc.'s free cash flow?

Phathom Pharmaceuticals, Inc. (PHAT) had negative free cash flow of $36.5M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in PHAT back in 2018?

Total return calculator · dividends reinvested · 8+ years of data

See returns →