# Phathom Pharmaceuticals share price today (Phathom Pharmaceuticals, Inc., PHAT)

> Phathom Pharmaceuticals, Inc.'s balance sheet is under water: its net worth is negative, so it owes more than it owns. This is a high-risk situation: shareholders can be wiped out by new shares or a restructuring before the business recovers. PHAT · Healthcare · Biotechnology · data as of 4 November 2026. Page: https://www.sectoralpha.in/us/stocks/phat

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## Key numbers

- Price: $5.68 (−57.1% in a year)
- Revenue (Jun 2026): $74.3 M (+88.0% on a year ago)
- Profit (Jun 2026): −$17.6 M
- Operating margin: −5.3% (+146.4 points on a year ago)
- ROE: 51%, FY25
- ROIC: −8.6%, against a 8.4% cost of capital: −17.0 points

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the Phathom Pharmaceuticals share price today? Phathom Pharmaceuticals, Inc.'s share price was $5.68 at the close on 4 November 2026. It has been falling for 6 weeks. That is 44.9% below its average price over the last 200 trading days. In the last 52 weeks it traded between $6 and $18, and at that close it was at the low of that range. Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 42 weeks running. Over the last 7 years the share price moved −76% while the S&P 500 moved +150%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 16 January 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Phathom Pharmaceuticals pay? Phathom Pharmaceuticals, Inc. pays no dividend. In the last 11 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes. ## Which stock lists is Phathom Pharmaceuticals on? Phathom Pharmaceuticals is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list. ## Is Phathom Pharmaceuticals profitable? Phathom Pharmaceuticals, Inc. posted a net loss of $17.6 M in the Jun 2026 quarter. The full FY25 year was a loss of $221 M. That loss is 23.7% of the quarter's revenue. The same quarter a year earlier lost $75.8 M. 11 of the last 11 reported quarters were loss-making. ## How much revenue does Phathom Pharmaceuticals make, and is it growing? Phathom Pharmaceuticals, Inc. reported $74.3 M of revenue in the Jun 2026 quarter, +88.0% on the same quarter a year earlier. That is the 7th quarter in a row with growth on the year before. Over 2 years it has grown 1,502.4% a year on average. The last full year, FY25, came in at $175 M. The last four reported quarters add to $240 M. FY25 revenue was $175 M, +216.9% on the year before. Recent pace: the last four quarters grew +122.3% on average, against 1,502.4% a year over the longer run, so this year is growing slower than its own long-run rate. ## How much of every $100 of sales does Phathom Pharmaceuticals keep? Phathom Pharmaceuticals, Inc.'s operating margin was −5.3% in the Jun 2026 quarter, 146.4 percentage points higher than the same quarter a year ago. Across 3 years it has been between −24,532.6% and −91.4%. The latest quarter is above every full year in that period. Why the margin moved: operating margin changed +146.4 percentage points on the year while gross margin changed −7.5 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Phathom Pharmaceuticals' profit turning into cash? Phathom Pharmaceuticals, Inc.'s cash-flow history is too short to judge how much of its profit turns into cash. In FY25 its operations used $167 M of cash, against −$221 M of profit. After $229 K of spending on assets, free cash was −$167 M: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Phathom Pharmaceuticals' cash go? Phathom Pharmaceuticals, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $2.0 M on assets over the last 3 years. Averaged over those years that is 0.4% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $2.0 M over the last 3 years. In short: most of the cash goes on covering the loss, not on new assets; spending on assets is small next to it. ## What is Phathom Pharmaceuticals' P/E ratio, and how does it compare with its own history? Phathom Pharmaceuticals, Inc. has no P/E right now, because its earnings are negative. The revenue and margin sections are where a turn would show first. Measured against sales instead, the market values Phathom Pharmaceuticals, Inc. at 2.6× its FY25 revenue of $175 M. The P/E comes back here once profit turns positive. ## Is the Phathom Pharmaceuticals business getting better or worse? Phathom Pharmaceuticals, Inc.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 7 quarters of 0 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. The return-on-capital line is not shown: net worth is negative, so a return on capital means nothing. The balance sheet is in distress, and this reading uses the growth lines alone. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Phathom Pharmaceuticals earn on its capital? Phathom Pharmaceuticals, Inc. earned a ROE of 51% in FY25. Its return on capital used (ROIC) is 17.0 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −126.3% net margin and 0.68× asset turnover (sales divided by assets). Why the return is what it is (FY25): a −126.3% net margin × 0.68× asset turnover × −0.59× leverage (assets divided by equity) ≈ 50.7% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: −8.6% − 8.4% = −17.0 percentage points. The 8.4% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Phathom Pharmaceuticals have too much debt? Phathom Pharmaceuticals, Inc.'s net worth is negative: it owes more than it owns, so a debt-to-equity ratio means nothing here. Year by year, that ratio went from 1.27 in FY21 to −1.34 in FY25. So the returns on this page come from the business, not from borrowed money. ## What is the Phathom Pharmaceuticals shareholding pattern? 15.3% of Phathom Pharmaceuticals, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so a large group of traders is betting against it. At normal trading volumes, closing those positions would take about 6.9 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is Phathom Pharmaceuticals from balance-sheet trouble? For Phathom Pharmaceuticals, Inc., the Z-score is −4.47. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the danger zone. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of −4.47 is inside the danger zone, so the balance sheet is a real risk. ## How does Phathom Pharmaceuticals rank in its industry? There is no score against its industry: Phathom Pharmaceuticals, Inc. is not among the largest members shown in this industry comparison for Biotechnology. The score ranks a company within its industry: each measure is scored against the other members. Without that group there is no score, so none is shown. ## Which companies is Phathom Pharmaceuticals compared with? No sector comparison is shown here, not among the largest members shown in this industry comparison. ## Which companies are close to Phathom Pharmaceuticals in size? Phathom Pharmaceuticals is the 148th largest of 211 Biotechnology companies on Sector Alpha by market value (scores of 4 November 2026). Just above it: Arvinas, Inc., Gyre Therapeutics, Inc. and MiMedx Group, Inc. Just below it: Oculis Holding AG, CorMedix Inc. and Prothena Corporation plc. ### Biotechnology companies close in size

1. [Arvinas, Inc.](https://www.sectoralpha.in/us/stocks/arvn) $486 million
2. [Gyre Therapeutics, Inc.](https://www.sectoralpha.in/us/stocks/gyre) $471 million
3. [MiMedx Group, Inc.](https://www.sectoralpha.in/us/stocks/mdxg) $467 million
4. Phathom Pharmaceuticals, Inc. $451 million
5. [Oculis Holding AG](https://www.sectoralpha.in/us/stocks/ocs) $449 million
6. [CorMedix Inc.](https://www.sectoralpha.in/us/stocks/crmd) $441 million
7. [Prothena Corporation plc](https://www.sectoralpha.in/us/stocks/prta) $431 million

[All 211 Biotechnology companies, largest first](https://www.sectoralpha.in/us/sectors/biotechnology#all-companies)

### Companies close in size in other industries

1. [Haverty Furniture Companies, Inc.](https://www.sectoralpha.in/us/stocks/hvt) $459 million · Home Improvement Retail
2. [HUYA Inc.](https://www.sectoralpha.in/us/stocks/huya) $457 million · Entertainment
3. Phathom Pharmaceuticals, Inc. $456 million
4. [Caleres, Inc.](https://www.sectoralpha.in/us/stocks/cal) $454 million · Apparel Retail
5. [Rimini Street, Inc.](https://www.sectoralpha.in/us/stocks/rmni) $454 million · Software - Application

## What else do people ask about Phathom Pharmaceuticals? ### What were Phathom Pharmaceuticals's latest quarterly results? Phathom Pharmaceuticals, Inc. reported revenue of $74.3 M and a net loss of $17.6 M for the Jun 2026 quarter. Earnings per share were −$0.21. The operating margin was −5.3%, 146.4 percentage points higher than a year earlier (as of 4 November 2026). ### What is Phathom Pharmaceuticals's market cap? Phathom Pharmaceuticals, Inc.'s market capitalisation is $451 M at a stock price of $5.68. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Phathom Pharmaceuticals performing? Phathom Pharmaceuticals, Inc.'s share price has been falling for 6 weeks. Over the past 13 weeks it has done worse than the S&P 500, for 42 weeks running. This describes what the data did, not a rating (as of 4 November 2026). ### Will Phathom Pharmaceuticals's stock price go up? This page does not forecast Phathom Pharmaceuticals, Inc.'s stock price. What it shows instead: the stock price is $5.68, and it has been falling for 6 weeks. Nobody can reliably say which way a price will move, and this site does not try (as of 4 November 2026). ### Where is Phathom Pharmaceuticals in its business cycle? Phathom Pharmaceuticals, Inc.'s FY25 operating margin was −91.4%, against a 3-year range of −24,532.6% to −91.4%: the middle of its own range, neither a peak nor a low. The latest quarter was −5.3%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Phathom Pharmaceuticals story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Phathom Pharmaceuticals a stock worth studying right now? What the numbers show: Phathom Pharmaceuticals, Inc.'s balance sheet is under water: its net worth is negative, so it owes more than it owns. This is a high-risk situation: shareholders can be wiped out by new shares or a restructuring before the business recovers. The main open question: whether the business can earn its way back to positive net worth before new shares or a restructuring get there first. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). This is research, not advice. We’re not SEBI-registered.