Phathom Pharmaceuticals Inc. (PHAT) Prices 2.25M Share Common Offering at $42/Sh

Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT), a late clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, announced today the pricing of its underwritten public offering of 2,250,000 shares of its common stock at a price to the public of $42.00 per share. All of the shares to be sold in the offering are being sold by Phathom. The gross proceeds to Phathom from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be $94.5 million. In addition, Phathom has granted the underwriters a 30-day option to purchase up to an additional 337,500 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about December 21, 2020.

Phathom intends to use the net proceeds from the proposed offering to fund the clinical development of vonoprazan and for working capital and general corporate purposes, including pre-commercial activities.

Jefferies, Evercore ISI, Guggenheim Securities and BMO Capital Markets are acting as joint bookrunning managers for the offering. Needham & Company is acting as lead manager for the offering.

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