Phathom Pharmaceuticals, Inc.
PHATNasdaqCIK 1783183HealthcareFiscal year ends Dec 31
Latest reported revenue, Q3 FY2026$84.7mRevenue, Q3 FY2026, three months to 2026-09-30$84.7m. XBRL concept
us-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figureThree months to Sep 30, 2026, from the 10-Q filed Oct 29, 2026.Latest quarter: Q3 FY2026
Three months to Sep 30, 2026, against the same quarter a year earlier.
- Revenue$84.7mRevenue, Q3 FY2026, three months to 2026-09-30$84.7m. XBRL concept
us-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure+71.1% on a year earlier - Gross margin78.3%Gross margin, Q3 FY2026, three months to 2026-09-30. gross profit / revenueGross profit: $66.4m. XBRL concept
us-gaap:GrossProfit. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $84.7m. XBRL conceptus-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure−9.2 pts on a year earlier - Operating margin−0.1%Operating margin, Q3 FY2026, three months to 2026-09-30. operating income / revenueOperating income: −$85.0k. XBRL concept
us-gaap:OperatingIncomeLoss. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $84.7m. XBRL conceptus-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure+30.7 pts on a year earlier - Net margin−16.4%Net margin, Q3 FY2026, three months to 2026-09-30. net income / revenueNet income: −$13.9m. XBRL concept
us-gaap:NetIncomeLoss. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $84.7m. XBRL conceptus-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure+44.1 pts on a year earlier - Diluted EPS−$0.16Diluted EPS, Q3 FY2026, three months to 2026-09-30−$0.16 per share. XBRL concept
us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure+61.0% on a year earlier - Free cash flow$1.7mFree cash flow, Q3 FY2026, three months to 2026-09-30. operating cash flow − capital expenditureOperating cash flow: $1.8m. XBRL concept
us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-10-29, accession 0001193125-26-436961. Derived: 9-month figure less the 6-month figure.Capital expenditure: $110.0k. XBRL conceptus-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-10-29, accession 0001193125-26-436961. Derived: 9-month figure less the 6-month figure.Report this figureSign changed from a year earlier
Last eight quarters
Full statements| Line item | Unit | Q4 FY20242024-12-31 | Q1 FY20252025-03-31 | Q2 FY20252025-06-30 | Q3 FY20252025-09-30 | Q4 FY20252025-12-31 | Q1 FY20262026-03-31 | Q2 FY20262026-06-30 | Q3 FY20262026-09-30 | Shape over the periods |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $m | 29.7Revenue, Q4 FY2024, three months to 2024-12-31$29.7m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Report this figure | 28.5Revenue, Q1 FY2025, three months to 2025-03-31$28.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | 39.5Revenue, Q2 FY2025, three months to 2025-06-30$39.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Report this figure | 49.5Revenue, Q3 FY2025, three months to 2025-09-30$49.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure | 57.6Revenue, Q4 FY2025, three months to 2025-12-31$57.6m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Report this figure | 58.3Revenue, Q1 FY2026, three months to 2026-03-31$58.3m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | 74.3Revenue, Q2 FY2026, three months to 2026-06-30$74.3m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Report this figure | 84.7Revenue, Q3 FY2026, three months to 2026-09-30$84.7m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure | |
| Gross margin | % | 87.1%Gross margin, Q4 FY2024, three months to 2024-12-31. gross profit / revenueGross profit: $25.8m. XBRL concept us-gaap:GrossProfit. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Revenue: $29.7m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Report this figure | 86.9%Gross margin, Q1 FY2025, three months to 2025-03-31. gross profit / revenueGross profit: $24.8m. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Revenue: $28.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | 87.2%Gross margin, Q2 FY2025, three months to 2025-06-30. gross profit / revenueGross profit: $34.5m. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Revenue: $39.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Report this figure | 87.5%Gross margin, Q3 FY2025, three months to 2025-09-30. gross profit / revenueGross profit: $43.3m. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $49.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure | 86.7%Gross margin, Q4 FY2025, three months to 2025-12-31. gross profit / revenueGross profit: $49.9m. XBRL concept us-gaap:GrossProfit. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Revenue: $57.6m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Report this figure | 79.4%Gross margin, Q1 FY2026, three months to 2026-03-31. gross profit / revenueGross profit: $46.3m. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Revenue: $58.3m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | 79.7%Gross margin, Q2 FY2026, three months to 2026-06-30. gross profit / revenueGross profit: $59.2m. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Revenue: $74.3m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Report this figure | 78.3%Gross margin, Q3 FY2026, three months to 2026-09-30. gross profit / revenueGross profit: $66.4m. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $84.7m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure | |
| Operating margin | % | (200.3%)Operating margin, Q4 FY2024, three months to 2024-12-31. operating income / revenueOperating income: −$59.4m. XBRL concept us-gaap:OperatingIncomeLoss. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Revenue: $29.7m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Report this figure | (276.5%)Operating margin, Q1 FY2025, three months to 2025-03-31. operating income / revenueOperating income: −$78.9m. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Revenue: $28.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | (151.7%)Operating margin, Q2 FY2025, three months to 2025-06-30. operating income / revenueOperating income: −$59.9m. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Revenue: $39.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Report this figure | (30.8%)Operating margin, Q3 FY2025, three months to 2025-09-30. operating income / revenueOperating income: −$15.3m. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $49.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure | (10.3%)Operating margin, Q4 FY2025, three months to 2025-12-31. operating income / revenueOperating income: −$5.9m. XBRL concept us-gaap:OperatingIncomeLoss. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Revenue: $57.6m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Report this figure | (26.5%)Operating margin, Q1 FY2026, three months to 2026-03-31. operating income / revenueOperating income: −$15.5m. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Revenue: $58.3m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | (5.3%)Operating margin, Q2 FY2026, three months to 2026-06-30. operating income / revenueOperating income: −$4.0m. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Revenue: $74.3m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Report this figure | (0.1%)Operating margin, Q3 FY2026, three months to 2026-09-30. operating income / revenueOperating income: −$85.0k. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $84.7m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure | |
| Net margin | % | (251.0%)Net margin, Q4 FY2024, three months to 2024-12-31. net income / revenueNet income: −$74.5m. XBRL concept us-gaap:NetIncomeLoss. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Revenue: $29.7m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Report this figure | (330.7%)Net margin, Q1 FY2025, three months to 2025-03-31. net income / revenueNet income: −$94.3m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $28.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | (191.9%)Net margin, Q2 FY2025, three months to 2025-06-30. net income / revenueNet income: −$75.8m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $39.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Report this figure | (60.5%)Net margin, Q3 FY2025, three months to 2025-09-30. net income / revenueNet income: −$30.0m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $49.5m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure | (36.7%)Net margin, Q4 FY2025, three months to 2025-12-31. net income / revenueNet income: −$21.1m. XBRL concept us-gaap:NetIncomeLoss. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Revenue: $57.6m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Report this figure | (52.1%)Net margin, Q1 FY2026, three months to 2026-03-31. net income / revenueNet income: −$30.4m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $58.3m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | (23.7%)Net margin, Q2 FY2026, three months to 2026-06-30. net income / revenueNet income: −$17.6m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $74.3m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Report this figure | (16.4%)Net margin, Q3 FY2026, three months to 2026-09-30. net income / revenueNet income: −$13.9m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Revenue: $84.7m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure | |
| Diluted EPS | $ per share | not reported (Diluted EPS not reported) | (1.31)Diluted EPS, Q1 FY2025, three months to 2025-03-31−$1.31 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | (1.05)Diluted EPS, Q2 FY2025, three months to 2025-06-30−$1.05 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Report this figure | (0.41)Diluted EPS, Q3 FY2025, three months to 2025-09-30−$0.41 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure | not reported (Diluted EPS not reported) | (0.37)Diluted EPS, Q1 FY2026, three months to 2026-03-31−$0.37 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | (0.21)Diluted EPS, Q2 FY2026, three months to 2026-06-30−$0.21 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-07-30, accession 0001193125-26-324867.Report this figure | (0.16)Diluted EPS, Q3 FY2026, three months to 2026-09-30−$0.16 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-10-29, accession 0001193125-26-436961.Report this figure | |
| Free cash flow | $m | (63.5)Free cash flow, Q4 FY2024, three months to 2024-12-31. operating cash flow − capital expenditureOperating cash flow: −$63.5m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Capital expenditure: $5.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Report this figure | (84.9)Free cash flow, Q1 FY2025, three months to 2025-03-31. operating cash flow − capital expenditureOperating cash flow: −$84.9m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Capital expenditure: $18.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | (62.8)Free cash flow, Q2 FY2025, three months to 2025-06-30. operating cash flow − capital expenditureOperating cash flow: −$62.7m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-07-30, accession 0001193125-26-324867. Derived: 6-month figure less the 3-month figure.Capital expenditure: $97.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-07-30, accession 0001193125-26-324867. Derived: 6-month figure less the 3-month figure.Report this figure | (14.1)Free cash flow, Q3 FY2025, three months to 2025-09-30. operating cash flow − capital expenditureOperating cash flow: −$14.1m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-10-29, accession 0001193125-26-436961. Derived: 9-month figure less the 6-month figure.Capital expenditure: $27.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-10-29, accession 0001193125-26-436961. Derived: 9-month figure less the 6-month figure.Report this figure | (5.1)Free cash flow, Q4 FY2025, three months to 2025-12-31. operating cash flow − capital expenditureOperating cash flow: −$5.0m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Capital expenditure: $87.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-K filed 2026-02-26, accession 0001193125-26-073379. Derived: 12-month figure less the 9-month figure.Report this figure | (15.7)Free cash flow, Q1 FY2026, three months to 2026-03-31. operating cash flow − capital expenditureOperating cash flow: −$15.6m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Capital expenditure: $61.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-04-30, accession 0001193125-26-193946.Report this figure | (2.0)Free cash flow, Q2 FY2026, three months to 2026-06-30. operating cash flow − capital expenditureOperating cash flow: −$1.9m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-07-30, accession 0001193125-26-324867. Derived: 6-month figure less the 3-month figure.Capital expenditure: $44.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-07-30, accession 0001193125-26-324867. Derived: 6-month figure less the 3-month figure.Report this figure | 1.7Free cash flow, Q3 FY2026, three months to 2026-09-30. operating cash flow − capital expenditureOperating cash flow: $1.8m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-10-29, accession 0001193125-26-436961. Derived: 9-month figure less the 6-month figure.Capital expenditure: $110.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-10-29, accession 0001193125-26-436961. Derived: 9-month figure less the 6-month figure.Report this figure |
Focus or hover a figure to see its XBRL concept, period and filing; each links to that filing. A figure marked d is derived: a quarter computed from year-to-date figures, such as the fourth quarter as the fiscal year less the nine months before it. A ratio reads not reported when any input is missing.
Last five fiscal years
| Line item | Unit | FY20212021-12-31 | FY20222022-12-31 | FY20232023-12-31 | FY20242024-12-31 | FY20252025-12-31 | Shape over the periods |
|---|---|---|---|---|---|---|---|
| Revenue | $m | not reported (Revenue not reported) | 0.0Revenue, FY2022, twelve months to 2022-12-31$0. XBRL concept us-gaap:Revenues. 10-K/A filed 2024-06-14, accession 0000950170-24-073629.Report this figure | 0.7Revenue, FY2023, twelve months to 2023-12-31$682.0k. XBRL concept us-gaap:Revenues. 10-K filed 2025-03-06, accession 0000950170-25-034183.Report this figure | 55.3Revenue, FY2024, twelve months to 2024-12-31$55.3m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure | 175Revenue, FY2025, twelve months to 2025-12-31$175.1m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure | |
| Gross margin | % | not reported (Gross profit and Revenue not reported) | not reported (Revenue of zero not reported) | 75.5%Gross margin, FY2023, twelve months to 2023-12-31. gross profit / revenueGross profit: $515.0k. XBRL concept us-gaap:GrossProfit. 10-K filed 2025-03-06, accession 0000950170-25-034183.Revenue: $682.0k. XBRL concept us-gaap:Revenues. 10-K filed 2025-03-06, accession 0000950170-25-034183.Report this figure | 85.6%Gross margin, FY2024, twelve months to 2024-12-31. gross profit / revenueGross profit: $47.3m. XBRL concept us-gaap:GrossProfit. 10-K filed 2026-02-26, accession 0001193125-26-073379.Revenue: $55.3m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure | 87.1%Gross margin, FY2025, twelve months to 2025-12-31. gross profit / revenueGross profit: $152.5m. XBRL concept us-gaap:GrossProfit. 10-K filed 2026-02-26, accession 0001193125-26-073379.Revenue: $175.1m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure | |
| Operating margin | % | not reported (Revenue not reported) | not reported (Revenue of zero not reported) | (24532.6%)Operating margin, FY2023, twelve months to 2023-12-31. operating income / revenueOperating income: −$167.3m. XBRL concept us-gaap:OperatingIncomeLoss. 10-K filed 2025-03-06, accession 0000950170-25-034183.Revenue: $682.0k. XBRL concept us-gaap:Revenues. 10-K filed 2025-03-06, accession 0000950170-25-034183.Report this figure | (502.2%)Operating margin, FY2024, twelve months to 2024-12-31. operating income / revenueOperating income: −$277.5m. XBRL concept us-gaap:OperatingIncomeLoss. 10-K filed 2026-02-26, accession 0001193125-26-073379.Revenue: $55.3m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure | (91.4%)Operating margin, FY2025, twelve months to 2025-12-31. operating income / revenueOperating income: −$160.0m. XBRL concept us-gaap:OperatingIncomeLoss. 10-K filed 2026-02-26, accession 0001193125-26-073379.Revenue: $175.1m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure | |
| Net margin | % | not reported (Revenue not reported) | not reported (Revenue of zero not reported) | (29558.9%)Net margin, FY2023, twelve months to 2023-12-31. net income / revenueNet income: −$201.6m. XBRL concept us-gaap:NetIncomeLoss. 10-K filed 2025-03-06, accession 0000950170-25-034183.Revenue: $682.0k. XBRL concept us-gaap:Revenues. 10-K filed 2025-03-06, accession 0000950170-25-034183.Report this figure | (605.1%)Net margin, FY2024, twelve months to 2024-12-31. net income / revenueNet income: −$334.3m. XBRL concept us-gaap:NetIncomeLoss. 10-K filed 2026-02-26, accession 0001193125-26-073379.Revenue: $55.3m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure | (126.3%)Net margin, FY2025, twelve months to 2025-12-31. net income / revenueNet income: −$221.2m. XBRL concept us-gaap:NetIncomeLoss. 10-K filed 2026-02-26, accession 0001193125-26-073379.Revenue: $175.1m. XBRL concept us-gaap:Revenues. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure | |
| Diluted EPS | $ per share | (3.89)Diluted EPS, FY2021, twelve months to 2021-12-31−$3.89 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-K filed 2023-02-28, accession 0000950170-23-004875.Report this figure | (5.05)Diluted EPS, FY2022, twelve months to 2022-12-31−$5.05 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-K/A filed 2024-06-14, accession 0000950170-24-073629.Report this figure | (3.93)Diluted EPS, FY2023, twelve months to 2023-12-31−$3.93 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-K filed 2025-03-06, accession 0000950170-25-034183.Report this figure | (5.29)Diluted EPS, FY2024, twelve months to 2024-12-31−$5.29 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure | (3.03)Diluted EPS, FY2025, twelve months to 2025-12-31−$3.03 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure | |
| Free cash flow | $m | (149)Free cash flow, FY2021, twelve months to 2021-12-31. operating cash flow − capital expenditureOperating cash flow: −$148.5m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2023-02-28, accession 0000950170-23-004875.Capital expenditure: $328.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-K filed 2023-02-28, accession 0000950170-23-004875.Report this figure | (148)Free cash flow, FY2022, twelve months to 2022-12-31. operating cash flow − capital expenditureOperating cash flow: −$146.5m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K/A filed 2024-06-14, accession 0000950170-24-073629.Capital expenditure: $1.0m. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-K/A filed 2024-06-14, accession 0000950170-24-073629.Report this figure | (139)Free cash flow, FY2023, twelve months to 2023-12-31. operating cash flow − capital expenditureOperating cash flow: −$137.6m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2025-03-06, accession 0000950170-25-034183.Capital expenditure: $1.6m. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-K filed 2025-03-06, accession 0000950170-25-034183.Report this figure | (267)Free cash flow, FY2024, twelve months to 2024-12-31. operating cash flow − capital expenditureOperating cash flow: −$266.8m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2026-02-26, accession 0001193125-26-073379.Capital expenditure: $135.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure | (167)Free cash flow, FY2025, twelve months to 2025-12-31. operating cash flow − capital expenditureOperating cash flow: −$166.8m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-K filed 2026-02-26, accession 0001193125-26-073379.Capital expenditure: $229.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-K filed 2026-02-26, accession 0001193125-26-073379.Report this figure |
Focus or hover a figure to see its XBRL concept, period and filing; each links to that filing. A figure marked d is derived: a quarter computed from year-to-date figures, such as the fourth quarter as the fiscal year less the nine months before it. A ratio reads not reported when any input is missing.
Insider purchases and sales
All insider transactionsThe last 20 open-market transactions reported on Form 4 (codes P and S). The reported price is the price per share the insider stated on the form: filing data, not a market price.
No open-market purchases or sales by insiders are in coverage from Nov 2024 to Oct 2026.
| Date | Insider | Transaction | Shares | Reported price | Value | Filing |
|---|---|---|---|---|---|---|
| 2024-01-24 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 3,703,703 | $8.10 | $30.0m | Form 4 |
| 2022-03-14 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 18 | $19.00 | $342 | Form 4 |
| 2021-11-04 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 1,000,000 | $20.85 | $20.9m | Form 4 |
| 2021-11-04 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 1 | $19.00 | $19 | Form 4 |
| 2021-07-07 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 2,609 | $35.05 | $91.4k | Form 4 |
| 2021-07-02 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 100 | $35.01 | $3.5k | Form 4 |
| 2021-07-01 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 8,226 | $35.16 | $289.2k | Form 4 |
| 2021-06-28 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 370 | $35.08 | $13.0k | Form 4 |
| 2021-06-25 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 1,250 | $36.07 | $45.1k | Form 4 |
| 2021-06-25 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 22,881 | $35.46 | $811.4k | Form 4 |
| 2021-06-24 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 10,848 | $35.14 | $381.2k | Form 4 |
| 2021-06-23 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 200 | $35.00 | $7.0k | Form 4 |
| 2021-06-22 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 100 | $35.00 | $3.5k | Form 4 |
| 2021-06-21 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 9,294 | $35.31 | $328.2k | Form 4 |
| 2021-06-18 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 5,398 | $35.13 | $189.6k | Form 4 |
| 2021-06-17 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 3,305 | $35.08 | $115.9k | Form 4 |
| 2021-06-14 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 2,826 | $35.06 | $99.1k | Form 4 |
| 2021-06-10 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 2,102 | $35.14 | $73.9k | Form 4 |
| 2021-06-09 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 1,191 | $35.28 | $42.0k | Form 4 |
| 2021-06-08 | Takeda Pharmaceutical Co Ltd10% owner | Sale | 100 | $35.00 | $3.5k | Form 4 |
Funds that report holding it
All fundsFrom each manager's latest Form 13F, largest reported value first. Reported value is as filed at the quarter end: filing data, not a price. A put or call is an option position, not shares held.
| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
|---|---|---|---|---|---|
| Frazier Life Sciences Management, L.P. | 2026-06-30 | $135.3m | 12,466,489 | Unchanged | |
| Medicxi Ventures Management (Jersey) Ltd | 2026-06-30 | $81.0m | 7,464,572 | Unchanged | |
| BlackRock, Inc. | 2026-06-30 | $49.1m | 4,525,129 | Added+463,133 | |
| Invesco Ltd. | 2026-06-30 | $43.7m | 4,029,731 | Reduced−292,329 | |
| Carlyle Group Inc. | 2026-06-30 | $37.9m | 3,496,808 | Unchanged | |
| MILLENNIUM MANAGEMENT LLC | 2026-06-30 | $36.6m | 3,375,834 | Reduced−647,075 | |
| VANGUARD CAPITAL MANAGEMENT LLC | 2026-06-30 | $28.8m | 2,656,944 | Added+73,308 | |
| FRANKLIN RESOURCES INC | 2026-06-30 | $21.4m | 1,970,828 | Added+976,324 | |
| NEA Management Company, LLC | 2026-06-30 | $21.3m | 1,960,169 | Unchanged | |
| 683 Capital Management, LLC | 2026-06-30 | $20.1m | 1,850,000 | Unchanged |
Recent filings
All 448 filingsReports and events: 10-K, 10-Q, 8-K, proxy statements and ownership schedules.
| Filed | Form | What it is | Accession number |
|---|---|---|---|
| 2026-10-2907:05 ET | 10-Q | Quarterly reportPeriod 2026-09-30 | 0001193125-26-436961 |
| 2026-10-2907:05 ET | 8-K | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-436959 |
| 2026-10-2606:02 ET | 8-K | 8.01 Other events | 0001193125-26-430977 |
| 2026-10-2317:00 ET | 8-K | 8.01 Other events | 0001193125-26-430621 |
| 2026-09-2916:45 ET | 8-K | 8.01 Other events | 0001193125-26-407696 |
| 2026-07-3007:05 ET | 10-Q | Quarterly reportPeriod 2026-06-30 | 0001193125-26-324867 |
| 2026-07-3007:05 ET | 8-K | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001193125-26-324865 |
| 2026-06-2308:00 ET | 8-K | 8.01 Other events | 0001193125-26-278533 |
| 2026-05-2116:01 ET | 8-K | 5.07 Shareholder vote results | 0001193125-26-234379 |
| 2026-04-3007:05 ET | 10-Q | Quarterly reportPeriod 2026-03-31 | 0001193125-26-193946 |
Latest annual report
Form 10-K for the fiscal year ended Dec 31, 2025Filed Feb 26, 2026. Its page lists the documents and the extracted sections, such as Business and Risk factors.
Forecast league
Q3 FY2026, the quarter ended 2026-09-30, has been scored from the reported figures.See the target
About the filer
- CIK
- 1783183
- Tickers
- PHAT
- Exchange
- Nasdaq
- SIC code
- 2834 Pharmaceutical Preparations
- Sector
- Healthcare
- Fiscal year ends
- Dec 31
- Incorporated in
- DE
- Filer category
- Non-accelerated filer<br>Smaller reporting company
Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 07:19 ET. Listed shows no prices and gives no investment advice.