PHAT at a glance
Phathom Pharmaceuticals, Inc. (PHAT, SEC CIK 1783183) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on September 29, 2026 and Form 4 insider filings as recently as September 8, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Phathom Pharmaceuticals, Inc. (PHAT) reported revenue of $175.1 million (up 216.9% from FY2024) and a net loss of $221.2 million. Diluted EPS was -$3.03.
- As of June 30, 2026, 29 institutional investment managers tracked by SignalX reported holding Phathom Pharmaceuticals, Inc. (PHAT) shares worth $295.9 million in 13F-HR filings.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $175.1M
- +216.9% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 29 funds
- $295.9M · +1 vs prior quarter
- Latest 8-K
- Sep 29, 2026
- Item 8.01
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Q2 revenue $74.3M vs $39.5M, up $34.8M YoY from VOQUEZNA products
- Gross margin 79.7% vs 87.2% YoY, reflecting higher royalties and fulfillment costs
- Operating loss $4.0M vs $59.9M YoY, with SG&A down $30.0M
- Cash $182.5M at June 30, 2026, with $175M Hercules refinancing and maturity extended to February 2029
- Topline Phase 2 EoE results expected Q4 2026; management expects lower near-term net losses
Risk Factors
- No material changes to risk factors disclosed in the 2025 Form 10-K
- No newly added risk factor or quarter-specific trigger disclosed
- Regulatory and compliance risks carried forward from the 2025 Form 10-K
- Operational, competitive, and market risks unchanged from the 2025 Form 10-K
- Liquidity, debt maturity, currency, and concentration risks unchanged from the 2025 Form 10-K
AI summary of the PHAT 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 8.01: Other Events
- Phase 3 pHalcon-NERD-302 initiated patient screening for VOQUEZNA 10 mg as-needed treatment in non-erosive GERD
- Approximately 500 patients across 80 U.S. sites, randomized 1:1 against placebo for 24 weeks
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 financial results for quarter ended June 30, 2026, announced July 30, 2026
- Full financial details contained in Exhibit 99.1 press release
Item EX-99.1: Item EX-99.1
- Q2 net revenue $74.3M, up 88% year over year and 27% sequentially, confirming accelerating VOQUEZNA commercialization
- Operating expenses fell 33% to $63.1M, driving near break-even adjusted net loss of $0.1M despite $6.7M stock compensation
Item 8.01: Other Events
- Phase 2 EoE trial fully enrolled with 95 adults across 41 U.S. sites
- VOQUEZNA 20 mg randomized against placebo for 12 weeks, followed by 12-week open-label extension
AI summaries of PHAT 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for PHAT
Don't miss the next PHAT filing
- Alerts as it files. A push when PHAT files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut PHAT, by share count.
- Ask anything. An AI agent that reads every PHAT filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Breedlove Robert Charles | F | Sep 3, 2026 | 460 | $9.05 |
| Breedlove Robert Charles | F | Jul 14, 2026 | 1,555 | $11.04 |
| Parikh Asit | G | May 22, 2026 | 28,000 | - |
| Parikh Asit | G | May 22, 2026 | 28,000 | - |
| Parikh Asit | M | May 20, 2026 | 17,500 | $4.95 |
| Parikh Asit | D | May 20, 2026 | 17,500 | - |
| KARBE FRANK | A | May 19, 2026 | 24,122 | - |
| FIELDS HEIDI | A | May 19, 2026 | 24,122 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $55.3M | $175.1M |
| Gross Profit | - | $47.3M | $152.5M |
| Operating Income | - | -$277.5M | -$160.0M |
| Net Income | - | -$334.3M | -$221.2M |
| Gross Margin | - | 85.6% | 87.1% |
| Op. Margin | - | -502.2% | -91.4% |
| Net Margin | - | -605.1% | -126.3% |
| Balance Sheet | |||
| Total Assets | - | $378.3M | $259.1M |
| Equity | - | -$253.6M | -$438.2M |
| ROE | - | 131.8% | 50.5% |
| Per Share | |||
| EPS | $-3.93 | $-5.29 | $-3.03 |
| Cash Flow | |||
| Operating CF | - | -$266.8M | -$166.8M |
| CapEx | $1.6M | $135K | $229K |
Source: XBRL data in Phathom Pharmaceuticals, Inc. (PHAT)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate PHAT share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 29 | $295.9M |
| Q1 2026 | 28 | $278.5M |
| Q4 2025 | 24 | $332.8M |
| Q3 2025 | 22 | $268.4M |
| Q2 2025 | 22 | $182.2M |
| Q1 2025 | 19 | $94.5M |
| Q4 2024 | 16 | $113.5M |
| Q3 2024 | 13 | $180.0M |
- Goldman Sachs Group+1.15M (+184%)
- Franklin Resources+976.3K (+98%)
- BlackRock+463.1K (+11%)
- State Street Corp+199.4K (+14%)
- Vanguard Portfolio Management LLC+130.6K (+20%)
- Millennium Management−647.1K (-16%)
- Invesco Ltd−292.3K (-7%)
- Citadel Advisors LLC−198.2K (-52%)
- Renaissance Technologies LLC−79.4K (-26%)
- Bank of America Corp−57.1K (-27%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 173 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
PHAT filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Sep 29, 2026 | - | Analysis | - |
| 4 | Sep 8, 2026 | - | - | - |
| 8-K | Jul 30, 2026 | - | Analysis | - |
| 10-Q | Jul 30, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 16, 2026 | - | - | - |
| 8-K | Jun 23, 2026 | - | Analysis | - |
| 4 | May 27, 2026 | - | - | |
| 8-K | May 21, 2026 | - | Analysis | |
| 4 | May 21, 2026 | - | - | |
| 4 | May 21, 2026 | - | - | |
| 4 | May 21, 2026 | - | - | |
| 4 | May 21, 2026 | - | - | |
| 4 | May 21, 2026 | - | - | |
| 4 | May 21, 2026 | - | - | |
| 4 | May 21, 2026 | - | - | |
| 10-Q | Apr 30, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | Apr 30, 2026 | - | Analysis | - |
| SC 13G | Mar 12, 2026 | - | - | |
| 4 | Mar 11, 2026 | - | - | - |
| 4 | Mar 3, 2026 | - | - | - |
| 10-K | Feb 26, 2026 | Dec 31, 2025 | - | |
| 8-K | Feb 26, 2026 | - | Analysis | - |
| 4 | Feb 12, 2026 | - | - | |
| 4 | Feb 12, 2026 | - | - | |
| 4 | Jan 27, 2026 | - | - |
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PHAT SEC filings: frequently asked questions
Which institutions hold PHAT stock?
As of June 30, 2026, the largest Phathom Pharmaceuticals, Inc. (PHAT) holders among the 13F filers tracked by SignalX were BlackRock ($49.1 million), Invesco Ltd ($43.7 million), Carlyle Group ($37.9 million), Millennium Management ($36.6 million), Vanguard Capital Management LLC ($28.8 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was PHAT's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Phathom Pharmaceuticals, Inc. (PHAT) reported revenue of $175.1 million (up 216.9% from FY2024) and a net loss of $221.2 million. Diluted EPS was -$3.03. The figures come from the XBRL data in the 10-K.
What did PHAT report in its latest 8-K?
Phathom Pharmaceuticals, Inc. (PHAT) filed an 8-K on September 29, 2026 reporting Item 8.01 (Other Events). Phase 3 pHalcon-NERD-302 initiated patient screening for VOQUEZNA 10 mg as-needed treatment in non-erosive GERD.
What are the latest PHAT SEC filings?
Phathom Pharmaceuticals, Inc. (PHAT) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on September 29, 2026 and a Form 4 insider filing on September 8, 2026.
What is PHAT's SEC CIK number?
Phathom Pharmaceuticals, Inc. (PHAT)'s SEC Central Index Key (CIK) is 1783183. EDGAR lists every PHAT filing under that number.
Ask anything about PHAT
The research agent reads PHAT's filings, financials, insider trades and 13F holders, then answers with sources.