Phathom Pharmaceuticals, Inc.

For the period ended Sep 30, 2026. Filed Oct 29, 2026.

About this filing

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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Contents

Condensed Statements of Stockholders’ Deficit

(in thousands, except share amounts)

Common Stock · Treasury Stock · AdditionalPaid-in · Accumulated · TotalStockholders’
	Shares	Amount	Shares	Capital	Deficit	Deficit
Balance at December 31, 2025	71,419,025	$6	19	$1,046,083	$(1,484,258)	$(438,169)
401(k) matching contribution	132,035	—	—	2,074	—	2,074
Vesting of restricted stock units and performance stock units, net of employee tax obligations	740,564	—	—	(128)	—	(128)
Stock-based compensation	—	—	—	5,534	—	5,534
ESPP shares issued	211,837	—	—	1,538	—	1,538
Issuance of common stock from exercises of stock options	63,906	—	—	591	—	591
Issuance of common stock and pre-funded warrants in connection with the underwritten public offering, net	6,875,000	1	—	121,973	—	121,974
Net loss	—	—	—	—	(30,369)	(30,369)
Balance at March 31, 2026	79,442,367	$7	19	$1,177,665	$(1,514,627)	$(336,955)
Vesting of restricted stock units	133,370	—	—	—	—	—
Stock-based compensation	—	—	—	6,712	—	6,712
Issuance of common stock from exercises of stock options	494,311	1	—	3,551	—	3,552
Net loss	—	—	—	—	(17,582)	(17,582)
Balance at June 30, 2026	80,070,048	$8	19	$1,187,928	$(1,532,209)	$(344,273)
401(k) matching contribution	265,909	—	—	2,887	—	2,887
Vesting of restricted stock units	259,346	—	—	(21)	—	(21)
Stock-based compensation	—	—	—	5,921	—	5,921
Issuance of common stock from exercises of stock options	481,382	—	—	372	—	372
ESPP shares issued	146,248	—	—	1,372	—	1,372
Net loss	—	—	—	—	(13,897)	(13,897)
Balance at September 30, 2026	81,222,933	$8	19	$1,198,459	$(1,546,106)	$(347,639)

Condensed Statements of Stockholders’ Deficit

(in thousands, except share amounts)

Common Stock · Treasury Stock · AdditionalPaid-in · Accumulated · TotalStockholders’
	Shares	Amount	Shares	Capital	Deficit	Deficit
Balance at December 31, 2024	68,518,238	$6	19	$1,009,425	$(1,263,011)	$(253,580)
401(k) matching contribution	290,165	—	—	2,127	—	2,127
Vesting of restricted stock units	508,568	—	—	—	—	—
Stock-based compensation	—	—	—	5,540	—	5,540
ESPP shares issued	321,099	—	—	1,853	—	1,853
Net loss	—	—	—	—	(94,316)	(94,316)
Balance at March 31, 2025	69,638,070	$6	19	$1,018,945	$(1,357,327)	$(338,376)
Vesting of restricted stock units	456,677	—	—	—	—	—
Stock-based compensation	—	—	—	8,272	—	8,272
Issuance of common stock from exercises of stock options	9,672	—	—	80	—	80
Net loss	—	—	—	—	(75,810)	(75,810)
Balance at June 30, 2025	70,104,419	$6	19	$1,027,297	$(1,433,137)	$(405,834)
401(k) matching contribution	326,212	—	—	3,131	—	3,131
Vesting of restricted stock units and performance stock units, net of employee tax obligation	392,592	—	—	(564)	—	(564)
Stock-based compensation	—	—	—	9,297	—	9,297
Issuance of common stock from exercises of stock options	35,732	—	—	293	—	293
ESPP shares issued	184,194	—	—	1,116	—	1,116
Net loss	—	—	—	—	(29,973)	(29,973)
Balance at September 30, 2025	71,043,149	$6	19	$1,040,570	$(1,463,110)	$(422,534)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.