Phathom Pharmaceuticals, Inc.
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
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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, 2026 · Filed Oct 29, 2026
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 Cash Flows
(in thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net loss | $(61,848) | $(200,099) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 344 | 505 |
| Stock-based compensation | 18,167 | 23,109 |
| Accrued payment-in-kind interest on debt | 712 | 3,479 |
| Accrued interest on revenue interest financing liability, net of payments | 10,122 | 20,290 |
| Amortization of debt discount | 2,709 | 2,205 |
| Loss on extinguishment of debt | 829 | — |
| Inventory reserve | 917 | 819 |
| Other | 4,081 | 4,340 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 7,131 | 7,638 |
| Accounts receivable, net | (29,473) | (16,992) |
| Accounts payable and accrued expenses | 41,233 | 6,530 |
| Accrued interest | (379) | 53 |
| Operating right-of-use assets and lease liabilities | (3) | 132 |
| Inventory | (9,631) | (13,783) |
| Other long-term assets | (649) | — |
| Net cash used in operating activities | (15,738) | (161,774) |
| Cash flows from investing activities | ||
| Cash paid for property and equipment | (215) | (142) |
| Net cash used in investing activities | (215) | (142) |
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock from exercise of stock options | 4,514 | 373 |
| Proceeds from issuance of long-term debt, net of issuance costs | 173,250 | — |
| Repayment of long-term debt | (229,047) | — |
| Net proceeds from underwritten public offering | 121,974 | — |
| Payment of employee tax obligations related to vesting of PSUs and RSUs | (149) | (564) |
| Net cash provided by (used in) financing activities | 70,542 | (191) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 54,589 | (162,107) |
| Cash and cash equivalents and restricted cash – beginning of period | 132,833 | 300,125 |
| Cash and cash equivalents and restricted cash – end of period | $187,422 | $138,018 |
| Supplemental disclosure of cash flow information | ||
| Interest paid | $13,716 | $15,938 |
| Supplemental disclosure of noncash investing and financing activities: | ||
| Property and equipment purchases included in accounts payable and accrued expenses | $— | $51 |
| Settlement of ESPP liability in common stock | $2,910 | $2,969 |
| Settlement of 401(k) liability in common stock | $4,961 | $5,258 |
| Final interest payment fee | $3,500 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.