PHAT - Phathom Pharmaceuticals, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$24.67
DETAILS
HIGH:
$28.00
LOW:
$18.00
MEDIAN:
$28.00
CONSENSUS:
$24.67
UPSIDE:
117.74%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 175.1 | 55.3 | 0.7 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 22.6 | 8.0 | 0.2 | 0.6 | 0.5 | 0.3 | 0.0 | 0 |
| Gross Profit | 152.5 | 47.3 | 0.5 | (0.6) | (0.5) | (0.3) | (0.0) | 0 |
| Operating Expenses | ||||||||
| R&D Expenses | 32.8 | 34.1 | 49.9 | 71.4 | 72.3 | 98.1 | 99.3 | 0.0 |
| SG&A Expenses | 279.7 | 290.7 | 117.9 | 100.4 | 62.2 | 27.2 | 6.9 | 1.2 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 312.5 | 324.7 | 167.8 | 171.8 | 134.6 | 125.4 | 106.2 | 1.2 |
| Operating Income | ||||||||
| Operating Income | (160.0) | (277.5) | (167.3) | (172.4) | (135.1) | (125.7) | (106.2) | (1.2) |
| Interest Expense | 68.1 | 72.0 | 42.0 | 27.3 | 6.8 | 4.6 | 4.2 | 0.0 |
| Interest Income | 7.0 | 15.2 | 7.9 | 2.1 | 0.0 | 1.1 | 1.1 | 0 |
| Profitability | ||||||||
| EBITDA | (159.4) | (261.5) | (159.0) | (169.8) | (136.6) | (124.2) | (250.9) | (0.1) |
| EBIT | (160.0) | (262.3) | (159.6) | (170.4) | (137.1) | (124.5) | (251.0) | (1.3) |
| Income Before Tax | (221.2) | (334.3) | (201.6) | (197.7) | (143.9) | (129.1) | (255.1) | (1.3) |
| Income Tax Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.0 |
| Net Income | (221.2) | (334.3) | (201.6) | (197.7) | (143.9) | (129.1) | (209.7) | (1.3) |
| Per Share Data | ||||||||
| EPS (Basic) | -3.03 | -5.29 | -3.93 | -5.70 | -4.00 | -4.01 | -8.48 | -0.15 |
| EPS (Diluted) | -3.03 | -5.29 | -3.93 | -5.70 | -4.00 | -4.01 | -8.48 | -0.15 |
| Shares Outstanding | 72.9 | 63.2 | 51.3 | 39.1 | 37.0 | 33.2 | 24.7 | 8.6 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||
| Cash & Cash Equivalents | 130.0 | 297.3 | 381.4 | 155.4 | 183.3 | 287.5 | 243.8 | 0.9 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 78.1 | 38.8 | 1.6 | 0 | 0 | 0.1 | 0 | 0 |
| Inventory | 5.5 | 3.2 | 1.2 | 0 | 0 | (0.1) | 0 | 0 |
| Other Current Assets | 15.4 | 20.9 | 13.2 | 5.1 | 3.3 | 3.9 | 0 | 0 |
| Total Current Assets | 229.0 | 360.1 | 397.4 | 160.5 | 186.5 | 291.4 | 255.6 | 0.9 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment | 3.7 | 2.1 | 3.6 | 3.5 | 2.6 | 3.4 | 1.4 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 2.9 | 0 | 0.5 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 26.5 | 13.2 | 12.8 | 0.3 | 0.3 | 0.4 | 0.2 | 0 |
| Total Non-Current Assets | 30.2 | 18.2 | 16.4 | 4.3 | 2.9 | 3.7 | 1.6 | 0 |
| Total Assets | 259.1 | 378.3 | 413.8 | 164.8 | 189.4 | 295.1 | 257.2 | 0.9 |
| Current Liabilities | ||||||||
| Account Payables | 5.0 | 10.5 | 12.6 | 10.0 | 5.2 | 16.8 | 0.7 | 0.1 |
| Short-Term Debt | 0.6 | 19.8 | 0 | 0 | 0 | 7.4 | 0 | 1.9 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1.9) |
| Other Current Liabilities | 126.4 | 54.9 | 20.4 | 0 | 0 | 0 | 0.4 | 0 |
| Total Current Liabilities | 132.0 | 85.7 | 38.8 | 26.2 | 18.9 | 55.5 | 3.7 | 2.2 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 2.1 | 534.7 | 137.8 | 95.3 | 89.7 | 39.6 | 22.8 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 563.2 | 11.5 | 309.5 | 117.0 | 7.5 | 4.1 | 2.1 | 0 |
| Total Non-Current Liabilities | 565.3 | 546.2 | 447.8 | 213.4 | 98.4 | 45.3 | 25.5 | 0 |
| Total Liabilities | 697.3 | 631.9 | 486.6 | 239.6 | 117.3 | 100.8 | 29.2 | 2.2 |
| Stockholders' Equity | ||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0 |
| Retained Earnings | (1,484.3) | (1,263.0) | (928.7) | (727.1) | (529.4) | (385.5) | (256.4) | (1.3) |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Stockholders' Equity | (438.2) | (253.6) | (72.8) | (74.8) | 72.2 | 194.3 | 228.0 | (1.3) |
| Total Liabilities & Equity | 259.1 | 378.3 | 413.8 | 164.8 | 189.4 | 295.1 | 257.2 | 0.9 |
| Debt Metrics | ||||||||
| Total Debt | 2.7 | 554.9 | 139.0 | 97.1 | 91.3 | 49.0 | 23.6 | 1.9 |
| Net Debt | (127.3) | 257.7 | (242.4) | (58.3) | (91.9) | (238.5) | (220.2) | 1.1 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | (221.2) | (334.3) | (201.6) | (197.7) | (143.9) | (129.1) | (255.1) | (1.3) |
| Depreciation & Amortization | 0.6 | 0.8 | 0.6 | 0.6 | 0.5 | 0.3 | 0.0 | 0 |
| Stock-Based Compensation | 28.7 | 24.0 | 45.0 | 24.1 | 16.8 | 5.8 | 0.4 | 0 |
| Change in Working Capital | (12.4) | (15.3) | (13.6) | 5.4 | (27.3) | 51.7 | (9.5) | 0.2 |
| Other Non-Cash Items | 37.5 | 58.0 | 32.1 | 21.0 | 5.4 | 1.5 | 227.7 | 0.1 |
| Operating Cash Flow | (166.8) | (266.8) | (137.6) | (146.5) | (148.5) | (69.7) | (36.5) | (1.0) |
| Investing Activities | ||||||||
| Capital Expenditure | (0.2) | (0.1) | (1.6) | (1.0) | (0.3) | (1.0) | (25.2) | 0 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0 | 0 | 0 | 0 | (25.1) | 0 |
| Investing Cash Flow | (0.2) | (0.1) | (1.6) | (1.0) | (0.3) | (1.0) | (25.2) | 0 |
| Financing Activities | ||||||||
| Net Debt Issuance | 0 | 59.4 | 39.3 | 95.4 | 42.8 | 25 | 113.2 | 1.9 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (1.9) | 1.6 | 172.8 | 0 | 1.9 | 0.6 | 0 | 0.0 |
| Financing Cash Flow | (0.3) | 182.8 | 367.6 | 120.0 | 44.7 | 114.5 | 304.6 | 1.9 |
| Cash Position | ||||||||
| Net Change in Cash | (167.3) | (84.1) | 228.4 | (27.9) | (104.1) | 43.7 | 242.9 | 0.9 |
| Cash at Beginning | 300.1 | 384.3 | 155.9 | 183.3 | 287.5 | 243.8 | 0.9 | 0 |
| Cash at End | 132.8 | 300.1 | 384.3 | 155.4 | 183.4 | 287.5 | 243.8 | 0.9 |
| Free Cash Flow | (166.8) | (266.9) | (139.2) | (147.6) | (148.8) | (70.7) | (61.8) | (1.0) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 175.1 | 55.3 | 0.7 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 152.5 | 47.3 | 0.5 | (0.6) | (0.5) | (0.3) | (0.0) | 0 |
| Operating Income | (160.0) | (277.5) | (167.3) | (172.4) | (135.1) | (125.7) | (106.2) | (1.2) |
| Net Income | (221.2) | (334.3) | (201.6) | (197.7) | (143.9) | (129.1) | (209.7) | (1.3) |
| EPS (Diluted) | -3.03 | -5.29 | -3.93 | -5.70 | -4.00 | -4.01 | -8.48 | -0.15 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 130.0 | 297.3 | 381.4 | 155.4 | 183.3 | 287.5 | 243.8 | 0.9 |
| Total Assets | 259.1 | 378.3 | 413.8 | 164.8 | 189.4 | 295.1 | 257.2 | 0.9 |
| Total Debt | 2.7 | 554.9 | 139.0 | 97.1 | 91.3 | 49.0 | 23.6 | 1.9 |
| Stockholders' Equity | (438.2) | (253.6) | (72.8) | (74.8) | 72.2 | 194.3 | 228.0 | (1.3) |
| Cash Flow | ||||||||
| Operating Cash Flow | (166.8) | (266.8) | (137.6) | (146.5) | (148.5) | (69.7) | (36.5) | (1.0) |
| Capital Expenditure | (0.2) | (0.1) | (1.6) | (1.0) | (0.3) | (1.0) | (25.2) | 0 |
| Free Cash Flow | (166.8) | (266.9) | (139.2) | (147.6) | (148.8) | (70.7) | (61.8) | (1.0) |