A Business at a Glance
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We are a commercial-stage biopharmaceutical company focused on commercializing and developing novel treatments for gastrointestinal, or GI, diseases. Our approved products, VOQUEZNA®, VOQUEZNA® DUAL PAK® and VOQUEZNA® TRIPLE PAK®, contain vonoprazan, an oral small molecule potassium-competitive acid blocker, or PCAB. PCABs are a novel class of molecules that block acid secretion in the stomach. VOQUEZNA is the only PCAB currently approved for marketing and sale in the United States. We began U.S. commercialization of VOQUEZNA for the treatment of erosive gastroesophageal reflux disease, or Erosive GERD, and Helicobacter pylori, or H. pylori, infection, and VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK for the treatment of H. pylori infection, in November 2023. The U.S. Food and Drug Administration, or FDA, approved VOQUEZNA for the relief of heartburn associated with Non-Erosive GERD, the largest category of GERD, in July 2024.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| Revenue | 175M | 175M | - | - | 0 |
| Net Income | -221M | -221M | -334M | -202M | -198M |
| EPS | $-3.03 | $-3.03 | $-5.29 | $-3.93 | $-5.05 |
| Free Cash Flow | -167M | -167M | -267M | -139M | -148M |
| ROIC | -48.8% | -61.7% | -73.3% | -31.9% | -82.7% |
| Gross Margin | 87.1% | 87.1% | - | - | - |
| Debt/Equity | 0.00 | -0.48 | -0.79 | -1.89 | -1.27 |
| Dividends/Share | $0.00 | - | - | - | - |
| Operating Income | -160M | -160M | -277M | -167M | -172M |
| Operating Margin | -91.4% | -91.4% | - | - | - |
| ROE | 0.0% | - | - | - | - |
| Shares Outstanding | 73M | 73M | 63M | 51M | 39M |
| Metric | 2022 | 2023 | |||
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 0 | N/A | N/A | 175M | 175M |
| Gross Margin | N/A | N/A | N/A | 87.1% | 87.1% |
| R&D | 71M | 50M | 34M | 33M | 33M |
| SG&A | 101M | 118M | 291M | 280M | 280M |
| EBIT | -172M | -167M | -277M | -160M | -160M |
| Op. Margin | N/A | N/A | N/A | -91.4% | -91.4% |
| Net Income | -198M | -202M | -334M | -221M | -221M |
| Net Margin | N/A | N/A | N/A | -126.3% | -126.3% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||
| ROIC | -82.7% | -31.9% | -73.3% | -61.7% | -48.8% |
| ROE | N/A | N/A | N/A | N/A | 0.0% |
| ROA | -120.0% | -48.7% | -88.4% | -69.4% | -85.4% |
| Cash Flow | |||||
| Op. Cash Flow | -147M | -138M | -267M | -167M | -167M |
| Free Cash Flow | -148M | -139M | -267M | -167M | -167M |
| Owner Earnings | -171M | -183M | -292M | -196M | -196M |
| CapEx | 1.0M | 1.6M | 135K | 229K | 229K |
| Maint. CapEx | 620K | 575K | 795K | 633K | 633K |
| Growth CapEx | 421K | 1.1M | 0 | 0 | 0 |
| D&A | 620K | 575K | 795K | 633K | 633K |
| CapEx/OCF | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 24M | 45M | 24M | 29M | 29M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||
| Net Debt | -216M | -625M | -393M | -51M | 79M |
| Cash & Equiv. | 155M | 381M | 297M | 130M | 130M |
| Long-Term Debt | 95M | 138M | 201M | 209M | 209M |
| Debt/Equity | -1.27 | -1.89 | -0.79 | -0.48 | 0.00 |
| Interest Coverage | -6.3 | -4.0 | -3.9 | -2.3 | -2.3 |
| Equity | -75M | -73M | -254M | -438M | -438M |
| Total Assets | 165M | 414M | 378M | 259M | 259M |
| Total Liabilities | 240M | 487M | 632M | 697M | 697M |
| Intangibles | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -727M | -929M | -1.3B | -1.5B | -1.5B |
| Working Capital | 134M | 359M | 274M | 97M | 97M |
| Current Assets | 161M | 397M | 360M | 229M | 229M |
| Current Liabilities | 26M | 39M | 86M | 132M | 132M |
| Per Share Data | |||||
| EPS | -5.05 | -3.93 | -5.29 | -3.03 | -3.03 |
| Owner EPS | -4.37 | -3.57 | -4.61 | -2.69 | -2.69 |
| Book Value | -1.91 | -1.42 | -4.01 | -6.00 | -6.00 |
| Cash Flow/Share | -3.74 | -2.68 | -4.22 | -2.28 | -3.02 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 39.2M | 51.3M | 63.2M | 73.0M | 73.0M |
| Valuation | |||||
| P/E Ratio | N/A | N/A | N/A | N/A | -4.2 |
| P/FCF | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | N/A | N/A | 3.8 | 5.3 |
| FCF Yield | -37.1% | -29.7% | -51.6% | -13.0% | -18.1% |
| Market Cap | 398M | 469M | 517M | 1.3B | 925M |
| Avg. Price | 11.67 | 10.67 | 11.34 | 9.02 | 12.67 |
| Year-End Price | 10.16 | 9.14 | 8.18 | 17.56 | 12.67 |
Phathom Pharmaceuticals, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 87.1%.
Phathom Pharmaceuticals, Inc. (PHAT) has a 5-year average return on invested capital (ROIC) of -62.4%. This is below average and may indicate limited pricing power.
Phathom Pharmaceuticals, Inc. (PHAT) has a market capitalization of $925M. It is classified as a small-cap stock.
Phathom Pharmaceuticals, Inc. (PHAT) does not currently pay a regular dividend.
Phathom Pharmaceuticals, Inc. (PHAT) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
Phathom Pharmaceuticals, Inc. (PHAT) reported annual revenue of $175 million in its most recent fiscal year, based on SEC EDGAR filings.
Phathom Pharmaceuticals, Inc. (PHAT) has a net profit margin of -126.3%. The company is currently unprofitable.
Phathom Pharmaceuticals, Inc. (PHAT) generated $-167 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Phathom Pharmaceuticals, Inc. (PHAT) reported earnings per share (EPS) of $-3.03 in its most recent fiscal year.
Phathom Pharmaceuticals, Inc. (PHAT) has a 5-year average gross margin of 87.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 4 years of financial data for Phathom Pharmaceuticals, Inc. (PHAT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Phathom Pharmaceuticals, Inc. (PHAT) has a book value per share of $-6.00, based on its most recent annual SEC filing.