PHAT

Over the past six months, Phathom Pharmaceuticals reported strong Q1 2026 financial results with $58.3 million net revenues (104% YOY increase) and maintained full-year guidance. Q2 2026 saw record net revenues of $74.3 million (88% YOY increase), achievement of operating profitability, and initiation of a Phase 3 clinical trial for as-needed VOQUEZNA in NERD, though shares fell due to refined full-year guidance. Ownership changes by Bank of America Corp DE and Man Group plc were noted in August 2026. The company announced participation in investor conferences and initiated a registrational Phase 3 study for as-needed NERD treatment in September 2026. In October 2026, the stock declined, with analysts noting little near-term upside, and recent news included investor alerts and fraud investigations by law firms.