---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-108726"
form_type: "8-K"
ticker: "PHAT"
cik: "0001783183"
company_name: "Phathom Pharmaceuticals, Inc."
filed_at: "2025-05-01T23:59:59+00:00"
generated_at: "2026-05-23T00:51:32.021200+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Phathom Q1 net revenue $28.5M, net loss $94.3M; cuts costs, exec changes, targets 2026 profit

## Summary
- Net revenue $28.5M (up from $1.9M YoY); net loss $94.3M ($77.1M non-GAAP adjusted).
- Over 390k VOQUEZNA prescriptions filled; ~127k in Q1, up ~8% sequentially despite seasonal headwinds.
- Cost reduction: cut 2025 opex by $60-70M, reduce headcount ~6%, pause EoE trial, target Q4 spend <$55M.
- CEO restructuring: new SVP Sales from Intra-Cellular; COO, CCO, CFO exit; Ted Schroeder on Board.
- Citizen Petition filed Dec 2024 for 10-year NCE exclusivity; FDA response due within 180 days.

## SEC filing metadata
- accession: 0001193125-25-108726
- form_type: 8-K
- ticker: PHAT
- cik: 0001783183
- company_name: Phathom Pharmaceuticals, Inc.
- filed_at: 2025-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1783183/000119312525108726/0001193125-25-108726-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1783183/000119312525108726/d847727d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-108726
- JSON: https://secwatch.observer/filing/0001193125-25-108726.json
- Plain text: https://secwatch.observer/filing/0001193125-25-108726.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.