Phathom Pharmaceuticals prices $130 million public offering

Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) announced the pricing of an underwritten public offering of 6,875,000 shares of common stock and pre-funded warrants to purchase 1,250,078 shares of common stock. The biopharmaceutical company priced the common stock at $16.00 per share and pre-funded warrants at $15.999 per warrant.

The gross proceeds from the offering are expected to be approximately $130 million before deducting underwriting discounts, commissions and other offering expenses. Phathom has granted underwriters a 30-day option to purchase up to an additional 1,218,761 shares at the public offering price, less underwriting discounts and commissions.

The offering is expected to close on or about January 9, 2026, subject to satisfaction of customary closing conditions. Phathom intends to use the net proceeds for general corporate purposes, including working capital and commercialization and research and development expenses.

Guggenheim Securities and Cantor are acting as joint bookrunning managers for the offering. Raymond James, Needham & Company, H.C. Wainwright & Co. and Craig-Hallum are serving as co-managers.

Phathom focuses on developing and commercializing treatments for gastrointestinal diseases. The company currently markets vonoprazan in the United States under the VOQUEZNA brand for various gastrointestinal conditions including non-erosive GERD and H. pylori infection treatment.

The securities are being offered pursuant to a shelf registration statement filed with the Securities and Exchange Commission that became effective automatically upon filing on January 7, 2026, according to the company's statement.

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