Company: PHAT
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034183
Chunk: 101

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 16
Chunk 101
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        1,487

        1,487

        Total property and equipment, gross

        4,317

        4,192

        Less: accumulated depreciation and amortization

        (2,841
        )

        (2,046
        )

        Total property and equipment, net
         
        $
        1,476

        $
        2,146

      Depreciation and amortization expense for the years ended December 31, 2024 and 2023 was approximately $0.8 million and $0.6 million, respectively. No property or equipment was disposed of during the years ended December 31, 2024 and 2023.Accrued ExpensesAccrued expenses consist of the following (in thousands):  

        December 31,

        2024

        2023

        Accrued compensation expenses
         
        $
        16,659

        $
        13,318

        Accrued professional & consulting expenses

        1,203

        1,771

        Accrued research and development expenses

        2,339

        1,009

        Accrued revenue allowances

        29,987

        982

        Accrued other

        3,044

        117

        Total accrued expenses
         
        $
        53,232

        $
        17,197

F-15

InventoryInventory consist of the following (in thousands):

        December 31,

        2024

        2023

        Finished goods
         
        $
        1,479

        $
        647

        Raw materials

        1,729

        561

        Total inventory, current

        3,208

        1,208

        Raw materials, non-current

        11,540

        8,234

        Total inventory
         
        $
        14,748

        $
        9,442

      Raw materials consist of materials, including active pharmaceutical ingredients, to be consumed in the production of inventory related to FDA-approved products. Inventory that is used for clinical development purposes is expensed to research and development expense when consumed. Inventory, noncurrent includes inventory expected to remain on-hand beyond one year from the balance sheet dates presented.

3. Commitments and Contingencies License Agreement On May 7, 2019, the Company entered into