Phathom Pharmaceuticals prices $130 million stock 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 set the price for common stock shares at $16.00 per share and pre-funded warrants at $15.999 per warrant. The warrant price represents the common stock price minus the $0.001 per share exercise price for each warrant.

Phathom expects gross proceeds of approximately $130 million from the offering before deducting underwriting discounts, commissions and other offering expenses. The company 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 customary closing conditions. Phathom filed a shelf registration statement with the Securities and Exchange Commission on January 7, 2026, which became effective automatically upon filing.

The company plans to use net proceeds for general corporate purposes, including working capital and commercialization and research and development expenses.

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

Phathom focuses on developing and commercializing treatments for gastrointestinal diseases. The company markets vonoprazan in the United States under the brand names VOQUEZNA, VOQUEZNA TRIPLE PAK and VOQUEZNA DUAL PAK for various gastrointestinal conditions.

You May Also Be Interested In

• Southern Cross Acquisition II prices $75M IPO on Nasdaq
• XBP Global wins British Airways contract for AI maintenance system
• SciSparc adds Technion AI professor to advisory board