Shares of Phathom Pharmaceuticals (PHAT) fell about 23% on Friday, heading for their worst day since November 2024. BDR Pharmaceuticals International sued the US Food and Drug Administration (FDA) over exclusivity for Phathom's key drug, VOQUEZNA. BDR is challenging the FDA's alleged refusal to accept its generic drug application referencing VOQUEZNA tablets. The FDA recognises the drug's exclusivity until May 2032. Phathom said it believes the FDA evaluated the issue correctly and "intends to take appropriate action to protect its statutory exclusivities." Cantor Fitzgerald sees a low chance the FDA will reverse course and kept its "Overweight" rating. Phathom reported $175.1 million in net revenue for 2025, up 217% from $55.3 million. The stock is down 67% this year.

925,000 shares in Phathom Pharmaceuticals, Inc. $PHAT purchased by Perceptive Advisors LLC. August 2, 2026 Key points. * Perceptive Advisors acquired 925,000 Phathom shares worth approximately $10.3 million, establishing a 1.16% stake. Institutional investors collectively own 99.01% of the company. * Phathom reported second-quarter revenue of about $74.3 million, exceeding estimates, but lowered its 2026 revenue guidance to $310 million-$325 million, below consensus and its prior outlook. * Analysts maintain a generally positive view, with a "Moderate Buy" consensus and average price target of $23.43 versus the stock's recent $8.75 price; however, a securities-law investigation related to the guidance cut adds risk. * MarketBeat previews top five stocks to own in September. Perceptive Advisors LLC acquired a new position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 925,000 shares of the company's stock, valued at approximately $10,277,000. Perceptive Advisors LLC owned about 1.16% of Phathom Pharmaceuticals as of its most recent SEC filing. Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SummitTX Capital L.P. grew its stake in shares of Phathom Pharmaceuticals by 92.3% during the first quarter. SummitTX Capital L.P. now owns 995,885 shares of the company's stock valued at $11,064,000 after purchasing an additional 478,065 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new position in Phathom Pharmaceuticals in the 4th quarter worth approximately $2,439,000. Next Century Growth Investors LLC acquired a new position in Phathom Pharmaceuticals during the 4th quarter worth $6,533,000. EcoR1 Capital LLC acquired a new position in Phathom Pharmaceuticals during the 1st quarter worth $6,944,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Phathom Pharmaceuticals during the 4th quarter worth $834,000. Institutional investors and hedge funds own 99.01% of the company's stock. Phathom Pharmaceuticals stock performance. Shares of Phathom Pharmaceuticals stock opened at $8.75 on Friday. The firm has a fifty day moving average of $10.77 and a two-hundred day moving average of $11.70. The stock has a market capitalization of $697.90 million, a price-to-earnings ratio of -6.84 and a beta of 0.49. Phathom Pharmaceuticals, Inc. has a 52 week low of $8.02 and a 52 week high of $18.31. Analysts set New Price targets. Several equities research analysts have recently commented on the company. HC Wainwright reissued a "buy" rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday. Guggenheim cut their price target on Phathom Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday. Needham & Company LLC decreased their price target on Phathom Pharmaceuticals from $28.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday. Craig Hallum reissued a "buy" rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $23.43. Discover more EV Market Report Dividend Screener Tool Phathom Pharmaceuticals news summary. Here are the key news stories impacting Phathom Pharmaceuticals this week: * Positive Sentiment: Phathom reported second-quarter revenue of approximately $74.3 million, ahead of the $72.7 million analyst consensus. Earnings also improved substantially from the year-earlier period, with some reports characterizing results as breakeven, although another data source reported a loss of $0.08 per share versus expectations for a $0.06 loss. Phathom Pharmaceuticals Reports Second Quarter 2026 Financial Results and Provides Business Update * Positive Sentiment: Needham maintained a "buy" rating and set a $22 price target, implying substantial potential upside from recent trading levels. The target, however, was reduced from $28, limiting the positive impact. Phathom Pharmaceuticals Given New Price Target at Needham * Neutral Sentiment: Management is expanding its commercial organization to more than 290 sales representatives, indicating continued investment in product growth but also potentially increasing near-term operating costs. Phathom Pharmaceuticals Q2 2026 Earnings Call Transcript * Negative Sentiment: Phathom lowered its fiscal 2026 revenue guidance to $310 million-$325 million, below the roughly $334.3 million consensus estimate and below its previous high end of $345 million. The outlook reduction was the primary fundamental catalyst for the sharp decline in the stock. Phathom Pharmaceuticals Investigation Notice * Negative Sentiment: Levi & Korsinsky announced an investigation into whether Phathom may have violated securities laws in connection with its guidance update. The potential legal overhang adds further pressure following the guidance reduction. Phathom Pharmaceuticals profile. Phathom Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company's core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom's research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist. The company's lead asset is vonoprazan, a potassium-competitive acid blocker (P-CAB) licensed for use in the United States. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Phathom Pharmaceuticals, you'll want to hear this. 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Phathom Pharmaceuticals investigation notice: Levi & Korsinsky notifies investors of pending investigation into Phathom Pharmaceuticals (PHAT). Jul 30, 2026, 17:34 ET Phathom Pharmaceuticals guided FY 2026 revenue as high as $345 million while building out a sales force of more than 290 representatives. The revised outlook now tops out at $325 million, and PHAT shareholders absorbed the decline. NEW YORK, July 30, 2026 /PRNewswire/ - Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) PHAT shareholders took the hit when Phathom Pharmaceuticals cut FY 2026 revenue guidance to $300 million-$325 million from the $320 million-$345 million range management had reaffirmed only weeks earlier, removing $20 million from both the bottom and top ends of its outlook. Investors who lost money on PHAT are encouraged to submit their loss information now. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. On the February 26, 2026 Q4 2025 earnings call, President and CEO Steve Basta stated: "Our $320 million to $345 million revenue guidance for 2026 reflects our operating expectation of continued solid growth from our GI-focused strategy." On the April 30, 2026 Q1 2026 call, CFO Sanjeev Narula told investors, "We continue to anticipate 2026 net revenue between $320 million to $345 million," and Mr. Basta added, "We are thus maintaining our revenue guidance for the year." On that same April 30 call, Mr. Basta described a commercial build carrying that guidance - "We have more than 290 reps in place to start Q2" - while Mr. Narula described the Company's gross-to-net discount landing at the lower end of a 55% to 59% range. Weeks later, the top end of the revenue range came down by $20 million. If you purchased Phathom Pharmaceuticals shares and suffered a loss, click here to have your losses reviewed. You may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. Levi & Korsinsky, LLP | Top 50 Securities Firm | (212) 363-7500 | www.zlk.com Frequently Asked Questions About the PHAT Investigation Q: Which statements are being investigated as potentially misleading?A: The investigation concerns whether Phathom Pharmaceuticals made materially false or misleading statements regarding its FY 2026 revenue guidance of $320 million to $345 million, which management reaffirmed on April 30, 2026. When the Company later reduced that outlook to $310 million - $325 million, PHAT shares declined. Q: When did Phathom Pharmaceuticals allegedly mislead investors?A: The investigation concerns statements made before the reduced guidance was disclosed, which allegedly caused investors to purchase securities at inflated prices. Q: Who is eligible to participate in the PHAT investigation?A: Investors who purchased PHAT stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses - not on whether you still hold the shares. Q: What do PHAT investors need to do right now?A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. Q: What documents do I need to participate?A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices. Q: What if I already sold my PHAT shares - can I still recover losses?A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought PHAT and sold at a loss may still participate in the investigation. Q: What does it cost me to participate?A: There is no upfront cost to participate. Securities investigations and any resulting actions are generally handled on a contingency basis - no retainer and no out-of-pocket costs. Q: Do I need to go to court or give testimony?A: No. Participating in the investigation does not require court appearances or depositions. Attorney Advertising. Prior results do not guarantee similar outcomes. SOURCE Levi & Korsinsky, LLP