---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-006266"
form_type: "8-K"
ticker: "PHAT"
cik: "0001783183"
company_name: "Phathom Pharmaceuticals, Inc."
filed_at: "2026-01-07T23:59:59+00:00"
generated_at: "2026-05-16T11:23:34.942582+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Phathom reports preliminary Q4 2025 revenue $57-58M; full year $174.5-175.5M; VOQUEZNA surpasses 1M prescriptions

## Summary
- Q4 2025 net revenues expected ~$57-58M; full year 2025 net revenues ~$174.5-175.5M.
- GAAP operating expenses Q4: ~$59-61M; non-GAAP (excl. stock-based comp) ~$51-53M.
- Cash and equivalents ~$130M as of 12/31/25; net cash usage in Q4 ~$6M.
- VOQUEZNA products surpassed 1 million prescriptions dispensed in U.S. during Q4.
- Operating profitability (excl. stock-based comp) anticipated in second half of 2026.

## SEC filing metadata
- accession: 0001193125-26-006266
- form_type: 8-K
- ticker: PHAT
- cik: 0001783183
- company_name: Phathom Pharmaceuticals, Inc.
- filed_at: 2026-01-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1783183/000119312526006266/0001193125-26-006266-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1783183/000119312526006266/d52798d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-006266
- JSON: https://secwatch.observer/filing/0001193125-26-006266.json
- Plain text: https://secwatch.observer/filing/0001193125-26-006266.txt

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