← Phathom Pharmaceuticals, Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
| Net loss | ($255.1m) | ($129.1m) | ($143.9m) | ($197.7m) | ($201.6m) | ($334.3m) | ($221.2m) | — | — | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($1.3m) | ($255.1m) | ($129.1m) | ($143.9m) | ($197.7m) | ($201.6m) | ($334.3m) | ($221.2m) | — | |
| Depreciation and amortization | $8k | $323k | $521k | $620k | $575k | $795k | $633k | $633k | $508k | |
| Amortization of debt discount | $409k | $1.3m | $3.6m | $2.1m | $1.9m | $2.2m | $3.0m | — | — | |
| Depreciation, Depletion and Amortization | — | $8k | $323k | $521k | $620k | $575k | $795k | $633k | $508k | |
| Depreciation | $0 | $8k | $300k | $500k | $600k | $575k | $795k | $633k | $508k | |
| Amortization of Debt Issuance Costs | — | $409k | $1.3m | $3.6m | $2.1m | $1.9m | $2.2m | $3.0m | — | |
| Stock-based compensation | $406k | $5.8m | $16.8m | $24.1m | $45.0m | $24.0m | $28.7m | $28.7m | $27.2m | |
| Share-based Payment Arrangement, Noncash Expense | — | $406k | $5.8m | $16.8m | $24.1m | $45.0m | $24.0m | $28.7m | $27.2m | |
| Share-based Payment Arrangement, Expense | — | $406k | $5.8m | $16.8m | $24.1m | $45.0m | $24.0m | $28.7m | $27.2m | |
| Nonoperating Income (Expense) | ($63k) | ($148.9m) | ($3.4m) | ($8.8m) | ($25.3m) | ($34.3m) | ($56.9m) | ($61.3m) | — | |
| Other Nonoperating Income (Expense) | — | ($10k) | ($8k) | ($2.1m) | ($110k) | ($188k) | ($8k) | ($190k) | — | |
| Change In Working Capital | — | — | — | — | $5.4m | ($13.6m) | ($15.3m) | ($12.4m) | $6.7m | |
| Accounts receivable, net | — | — | — | $0 | ($1.6m) | ($37.2m) | ($39.3m) | — | ($46.2m) | |
| Increase (Decrease) in Accounts Receivable | — | — | — | — | — | $1.6m | $37.2m | $39.3m | ($46.2m) | |
| Change In Receivables | — | — | — | — | $0 | ($1.6m) | ($37.2m) | ($39.3m) | ($46.2m) | |
| Changes In Account Receivables | — | — | — | — | $0 | ($1.6m) | ($37.2m) | ($39.3m) | ($46.2m) | |
| Inventory reserve | — | — | — | — | $0 | $836k | $280k | — | — | |
| Inventory | — | — | — | $0 | ($9.4m) | ($6.1m) | ($11.8m) | — | ($894k) | |
| Increase (Decrease) in Inventories | — | — | — | — | — | $9.4m | $6.1m | $11.8m | ($894k) | |
| Inventory Write-down | — | — | — | — | — | — | $836k | $280k | — | |
| Change In Inventory | — | — | — | — | $0 | ($9.4m) | ($6.1m) | ($11.8m) | ($894k) | |
| Accounts payable and accrued expenses | $2.3m | $24.0m | ($9.8m) | $8.7m | $6.4m | $34.9m | $34.1m | — | $49.0m | |
| Property and equipment purchases included in accounts payable and accrued expenses | $339k | $145k | $2k | $138k | $18k | $8k | $0 | — | — | |
| Change In Payables And Accrued Expense | — | — | — | — | $7.7m | $6.7m | $35.5m | $34.2m | $49.0m | |
| Accrued payment-in-kind interest on debt | — | — | — | — | — | $3.8m | $4.7m | — | — | |
| Accrued interest on revenue interest financing liability, net of payments | — | — | — | — | — | $46.1m | $24.3m | — | — | |
| Accrued interest | $156k | $156k | $165k | $377k | $292k | $565k | $121k | — | — | |
| Change In Accrued Expense | — | — | — | — | ($1.0m) | $292k | $565k | $121k | ($318k) | |
| Other | — | $322k | $823k | $1.3m | $1.9m | $5.1m | $5.2m | — | — | |
| Prepaid expenses and other current assets | ($11.8m) | $8.0m | $605k | ($1.9m) | ($8.1m) | ($7.7m) | $5.5m | — | — | |
| Change In Other Current Assets | — | — | — | — | ($118k) | ($1.4m) | $0 | ($1.2m) | ($1.4m) | |
| Net cash used in operating activities | ($36.5m) |
($69.7m)
-90.87%
|
($148.6m)
-113.26%
|
($146.5m)
+1.40%
|
($137.6m)
+6.11%
|
($266.8m)
-93.90%
|
($166.8m)
+37.48%
|
($166.8m)
0.00%
|
($36.7m)
+78.00%
|
|
| Net Cash Provided by (Used in) Operating Activities | ($1.0m) |
($36.5m)
-3468.91%
|
($69.7m)
-90.87%
|
($148.6m)
-113.26%
|
($146.5m)
+1.40%
|
($137.6m)
+6.11%
|
($266.8m)
-93.90%
|
($166.8m)
+37.48%
|
($36.7m)
+78.00%
|
|
| Cash flows from investing activities: | ||||||||||
| Cash paid for property and equipment | ($132k) | ($1.0m) | ($328k) | ($1.0m) | ($1.6m) | ($135k) | ($229k) | — | — | |
| Payments to Acquire Property, Plant, and Equipment | — | $132k | $1.0m | $328k | $1.0m | $1.6m | $135k | $229k | ($219k) | |
| Net cash used in investing activities | ($25.2m) | ($1.0m) | ($328k) | ($1.0m) | ($1.6m) | ($135k) | ($229k) | — | ($219k) | |
| Net Cash Provided by (Used in) Investing Activities | — | ($25.2m) | ($1.0m) | ($328k) | ($1.0m) | ($1.6m) | ($135k) | ($229k) | ($219k) | |
| Net proceeds from issuance of debt | $24.9m | $25.0m | $96.9m | $0 | $39.3m | $59.4m | $0 | — | — | |
| Repayments of Long-term Debt | — | — | — | $54.1m | — | — | — | — | — | |
| Proceeds from Issuance of Long-term Debt | — | $24.9m | $25.0m | $96.9m | $0 | $39.3m | $59.4m | $0 | $173.2m | |
| Issuance Of Debt | — | — | — | — | $0 | $39.3m | $59.4m | $0 | $173.2m | |
| Long Term Debt Issuance | — | — | — | — | $0 | $39.3m | $59.4m | $0 | $173.2m | |
| Long Term Debt Payments | — | — | — | ($54.1m) | $0 | — | — | — | — | |
| Net Issuance Payments Of Debt | — | — | — | — | $0 | $39.3m | $59.4m | $0 | ($55.8m) | |
| Repayment Of Debt | — | — | — | ($54.1m) | $0 | — | — | — | — | |
| Proceeds from issuance of common stock from exercise of stock options | — | $629k | $1.9m | $0 | $124k | $1.6m | $1.6m | — | $122.0m | |
| Net proceeds from issuance of common stock | — | — | — | $24.6m | $14.1m | $0 | $0 | — | — | |
| Settlement of ESPP liability in common stock | — | — | $819k | $909k | $1.4m | $2.4m | $3.0m | — | — | |
| Settlement of 401(k) liability in common stock | — | — | $903k | $1.1m | $1.6m | $3.7m | $5.3m | — | — | |
| Proceeds from Issuance of Common Stock | $2k | — | — | — | $0 | — | — | — | $122.0m | |
| Common Stock Issuance | — | — | — | — | $24.6m | $155.5m | $121.8m | $0 | $122.0m | |
| Issuance Of Capital Stock | — | — | — | — | $24.6m | $155.5m | $121.8m | $0 | $122.0m | |
| Net Other Financing Charges | — | — | — | — | $95.4m | $172.7m | — | ($1.9m) | ($1.9m) | |
| Net cash (used in) provided by financing activities | $304.6m |
$114.5m
-62.43%
|
$44.7m
-60.94%
|
$120.0m
+168.50%
|
$367.6m
+206.21%
|
$182.8m
-50.28%
|
($288k)
-100.16%
|
— | — | |
| Net Cash Provided by (Used in) Financing Activities | $1.9m |
$304.6m
+15917.14%
|
$114.5m
-62.43%
|
$44.7m
-60.94%
|
$120.0m
+168.50%
|
$367.6m
+206.21%
|
$182.8m
-50.28%
|
($288k)
-100.16%
|
$69.8m
+24344.10%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $879k | $242.9m | $43.7m | ($104.2m) | ($27.5m) | $228.4m | ($84.1m) | ($167.3m) | $185.3m | |
| Cash and cash equivalents and restricted cash - beginning of period | $243.8m | $287.5m | $183.3m | $155.9m | $384.3m | $300.1m | $132.8m | — | — | |
| Beginning Cash Position | — | — | — | — | $183.4m | $155.9m | $384.3m | $300.1m | $152.4m | |
| Net decrease in cash and cash equivalents and restricted cash | $242.9m | $43.7m | ($104.2m) | ($27.5m) | $228.4m | ($84.1m) | ($167.3m) | — | — | |
| Additional Supplementary Disclosures | ||||||||||
| Additional Supplementary Disclosures | ||||||||||
| Operating right-of-use assets and lease liabilities | $51k | ($205k) | $98k | ($238k) | $194k | $175k | $222k | — | — | |
| Other long-term assets | ($181k) | ($203k) | $43k | ($118k) | ($1.4m) | $0 | ($1.2m) | — | — | |
| Net proceeds from underwritten public offering | — | — | — | $0 | $141.4m | $121.8m | $0 | — | — | |
| Payment of employee tax obligations related to vesting of PSUs and RSUs | — | — | — | — | — | $0 | ($1.9m) | — | — | |
| Net proceeds from revenue interest financing transaction | — | — | — | $95.4m | $172.7m | $0 | $0 | — | — | |
| Interest paid | $1.0m | $3.5m | $4.1m | $7.0m | $11.1m | $17.3m | $21.4m | $21.4m | $20.1m | |
| Final interest payment fee | $2.1m | $2.1m | $7.5m | $0 | $2.2m | $1.8m | $0 | — | — | |
| Proceeds from Stock Options Exercised | — | — | $629k | $1.9m | $0 | $124k | $1.6m | $1.6m | — | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | $1.0m | $3.5m | $4.1m | $7.0m | $11.1m | $17.3m | $21.4m | — | |
| General and Administrative Expense | $1.2m | $6.9m | $27.5m | $62.7m | $101.0m | — | — | — | — | |
| Income Tax Expense (Benefit) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | $72.0m | $68.1m | — | |
| Investment Income, Interest | — | $1.1m | $1.1m | $41k | $2.1m | $7.9m | $15.2m | $7.0m | — | |
| Operating Expenses | $1.2m | $106.2m | $125.7m | $135.1m | $172.4m | $167.8m | $324.7m | $312.5m | — | |
| Operating Lease, Expense | — | — | $500k | $700k | $1.0m | $1.1m | $1.1m | $1.0m | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | $120.0m | $367.6m | $182.8m | ($288k) | $69.8m | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | ($1.0m) | ($1.6m) | ($135k) | ($229k) | ($219k) | |
| Change In Account Payable | — | — | — | — | $8.7m | $6.4m | $34.9m | $34.1m | $49.0m | |
| Change In Cash Supplemental As Reported | — | — | — | — | ($27.5m) | $228.4m | ($84.1m) | ($167.3m) | — | |
| Change In Interest Payable | — | — | — | — | $377k | $292k | $565k | $121k | ($318k) | |
| Change In Other Working Capital | — | — | — | — | ($238k) | $194k | $175k | $222k | $161k | |
| Change In Payable | — | — | — | — | $8.7m | $6.4m | $34.9m | $34.1m | $49.0m | |
| Change In Prepaid Assets | — | — | — | — | ($1.9m) | ($8.1m) | ($7.7m) | $5.5m | $6.3m | |
| Changes In Cash | — | — | — | — | ($27.5m) | $228.4m | ($84.1m) | ($167.3m) | $32.9m | |
| End Cash Position | — | — | — | — | $155.9m | $384.3m | $300.1m | $132.8m | $185.3m | |
| Financing Cash Flow | — | — | — | — | $120.0m |
$367.6m
+206.21%
|
$182.8m
-50.28%
|
($288k)
-100.16%
|
$69.8m
+24344.10%
|
|
| Free Cash Flow | — | — | — | — | ($147.6m) | ($139.2m) | ($266.9m) | ($167.0m) | ($36.9m) | |
| Investing Cash Flow | — | — | — | — | ($1.0m) | ($1.6m) | ($135k) | ($229k) | ($219k) | |
| Net PPE Purchase And Sale | — | — | — | — | ($1.0m) | ($1.6m) | ($135k) | ($229k) | ($219k) | |
| Other Non Cash Items | — | — | — | — | $21.0m | $32.1m | $57.2m | $37.2m | — | |
| Proceeds From Stock Option Exercised | — | — | — | — | $0 | $124k | $1.6m | $1.6m | $5.7m | |
| Provisionand Write Offof Assets | — | — | — | — | — | $0 | $836k | $280k | ($539k) | |
| Purchase Of PPE | — | $132k | $1.0m | $328k | ($1.0m) | ($1.6m) | ($135k) | ($229k) | ($219k) |