← Phathom Pharmaceuticals, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $879k | $243.8m | $287.5m | $183.3m | $155.4m | $381.4m | $297.3m | $130.0m | |
| Prepaid expenses and other current assets | $23k | $11.8m | $3.9m | $3.3m | $5.1m | $13.2m | $20.9m | $15.4m | |
| Accounts receivable, net | — | — | — | — | $0 | $1.6m | $38.8m | $78.1m | |
| Inventory | — | — | — | — | $0 | $1.2m | $3.2m | $5.5m | |
| Inventory, non-current | — | — | — | — | $0 | $8.2m | $11.5m | $20.7m | |
| Prepaid Expense and Other Assets, Current | $23k | $11.8m | $3.9m | $3.3m | $5.1m | $13.2m | $20.9m | $15.4m | |
| Total current assets | $902k | $255.6m | $291.4m | $186.5m | $160.5m | $397.4m | $360.1m | $229.0m | |
| Assets, Current | $902k | $255.6m | $291.4m | $186.5m | $160.5m | $397.4m | $360.1m | $229.0m | |
| Property and equipment, net | — | $463k | $986k | $650k | $1.2m | $2.1m | $1.5m | $1.1m | |
| Property, Plant and Equipment, Net | — | $463k | $986k | $650k | $1.2m | $2.1m | $1.5m | $1.1m | |
| Operating lease right-of-use assets | — | $933k | $2.4m | $1.9m | $2.3m | $1.5m | $613k | $2.6m | |
| Other long-term assets | — | $181k | $384k | $341k | $299k | $1.7m | $1.7m | $2.9m | |
| Operating Lease, Right-of-Use Asset | — | $933k | $2.4m | $1.9m | $2.3m | $1.5m | $613k | $2.6m | |
| Other Assets, Noncurrent | — | $181k | $384k | $341k | $299k | $1.7m | $1.7m | $2.9m | |
| Restricted cash | — | — | — | $160k | $505k | $2.9m | $2.9m | $2.9m | |
| Operating lease liabilities, current | — | $161k | $474k | $487k | $708k | $726k | $501k | $648k | |
| Current portion of revenue interest financing liability | — | — | — | — | $0 | $7.1m | $19.8m | $27.2m | |
| Other current liabilities | — | — | — | — | — | — | — | $7.5m | |
| Revenue interest financing liability | — | — | — | — | $109.5m | $299.8m | $333.3m | $350.1m | |
| Operating lease liabilities | — | $635k | $1.6m | $1.2m | $1.1m | $462k | $0 | $2.1m | |
| Total stockholders' deficit | ($1.3m) | $228.0m | $194.3m | $72.2m | ($74.8m) | ($72.8m) | ($253.6m) | ($438.2m) | |
| Accrued Liabilities, Current | $170k | $2.3m | $10.6m | $11.4m | $14.7m | $17.2m | $53.2m | $89.8m | |
| Total assets | $902k | $257.2m | $295.1m | $189.4m | $164.8m | $413.8m | $378.3m | $259.1m | |
| Total liabilities and stockholders' deficit | $902k | $257.2m | $295.1m | $189.4m | $164.8m | $413.8m | $378.3m | $259.1m | |
| Accounts payable | $55k | $699k | $16.8m | $5.2m | $10.0m | $12.6m | $10.5m | $5.0m | |
| Accrued expenses | $170k | $2.3m | $10.6m | $11.4m | $14.7m | $17.2m | $53.2m | $89.8m | |
| Accrued interest | $13k | $156k | $312k | $477k | $854k | $1.1m | $1.7m | $1.8m | |
| Operating Lease, Liability, Current | — | $161k | $474k | $487k | $708k | $726k | $501k | $648k | |
| Operating Lease, Liability, Noncurrent | — | $635k | $1.6m | $1.2m | $1.1m | $462k | $0 | $2.1m | |
| Long-term Debt, Excluding Current Maturities | — | — | $39.6m | $89.7m | $95.3m | $137.8m | $201.4m | $209.1m | |
| Long-term Debt, Current Maturities | — | — | $7.4m | — | — | $0 | $0 | $0 | |
| Total current liabilities | $2.2m | $3.7m | $55.5m | $18.9m | $26.2m | $38.8m | $85.7m | $132.0m | |
| Liabilities, Current | $2.2m | $3.7m | $55.5m | $18.9m | $26.2m | $38.8m | $85.7m | $132.0m | |
| Long-term debt, net of discount | — | $22.8m | $39.6m | $89.7m | $95.3m | $137.8m | $201.4m | $209.1m | |
| Other long-term liabilities | — | $2.1m | $4.1m | $7.5m | $7.5m | $9.7m | $11.5m | $4.0m | |
| Other Liabilities, Noncurrent | — | $2.1m | $4.1m | $7.5m | $7.5m | $9.7m | $11.5m | $4.0m | |
| Total liabilities | $2.2m | $29.2m | $100.8m | $117.3m | $239.6m | $486.6m | $631.9m | $697.3m | |
| Common stock, $0.0001 par value; authorized shares - 400,000,000 at December 31, 2025 and December 31, 2024; issued and outstanding shares - 71,419,025 and 68,518,238 at December 31, 2025 and December 31, 2024, respectively | — | 2k | 3k | 3k | 3k | 5k | 6k | 6k | |
| Treasury stock - 19 shares at December 31, 2025 and December 31, 2024 | — | — | — | — | $0 | $0 | $0 | $0 | |
| Additional paid-in capital | $2k | $484.4m | $579.8m | $601.5m | $652.3m | $855.9m | $1.0b | $1.0b | |
| Accumulated deficit | ($1.3m) | ($256.4m) | ($385.5m) | ($529.4m) | ($727.1m) | ($928.7m) | ($1.3b) | ($1.5b) | |
| Common Stock, Value, Issued | — | $2k | $3k | $3k | $3k | $5k | $6k | $6k | |
| Additional Paid in Capital, Common Stock | $2k | $484.4m | $579.8m | $601.5m | $652.3m | $855.9m | $1.0b | $1.0b | |
| Stockholders' Equity Attributable to Parent | ($1.3m) | $228.0m | $194.3m | $72.2m | ($74.8m) | ($72.8m) | ($253.6m) | ($438.2m) | |
| Liabilities and Equity | $902k | $257.2m | $295.1m | $189.4m | $164.8m | $413.8m | $378.3m | $259.1m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.