secwatch.observer — SEC 8-K summary
======================================

Issuer:     Phathom Pharmaceuticals, Inc. (PHAT)
CIK:        0001783183
Form:       8-K
Filed at:   2026-01-07T23:59:59+00:00
Accession:  0001193125-26-006266
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1783183/000119312526006266/0001193125-26-006266-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1783183/000119312526006266/d52798d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-006266

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer