Phathom Pharmaceuticals, Inc.
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 30, 2025
PHAT$5.45+2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Operations and Comprehensive Loss
(in thousands, except share and per share amounts)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Product revenue, net | $49,504 | $16,352 | $117,526 | $25,588 |
| Cost of revenue | 6,190 | 2,356 | 14,951 | 4,158 |
| Gross profit | 43,314 | 13,996 | 102,575 | 21,430 |
| Operating expenses: | ||||
| Research and development | 7,027 | 8,693 | 25,287 | 25,499 |
| Selling, general and administrative | 51,558 | 76,099 | 231,346 | 213,981 |
| Total operating expenses | 58,585 | 84,792 | 256,633 | 239,480 |
| Loss from operations | (15,271) | (70,796) | (154,058) | (218,050) |
| Other (expense) income: | ||||
| Interest income | 1,413 | 3,711 | 5,840 | 11,648 |
| Interest expense | (16,108) | (18,484) | (51,696) | (53,416) |
| Other expense, net | (7) | (8) | (185) | (57) |
| Total other expense | (14,702) | (14,781) | (46,041) | (41,825) |
| Net loss and comprehensive loss | $(29,973) | $(85,577) | $(200,099) | $(259,875) |
| Net loss per share, basic and diluted | $(0.41) | $(1.32) | $(2.76) | $(4.29) |
| Weighted-average shares of common stock outstanding, basic and diluted | 73,396,435 | 64,627,847 | 72,615,910 | 60,543,545 |
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