Company: PHAT
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001193125-25-257390
Chunk: 0

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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PHATHOM PHARMACEUTICALS, INC.

Condensed Balance Sheets 

(Unaudited)

(in thousands, except share and par value amounts)

     September 30,2025

     December 31,2024

     Assets

     Current assets:

     Cash and cash equivalents
      
     $
     135,156

     $
     297,263

     Prepaid expenses and other current assets

     13,227

     20,866

     Accounts receivable, net

     55,789

     38,797

     Inventory

     3,611

     3,208

     Total current assets

     207,783

     360,134

     Property and equipment, net

     1,156

     1,476

     Operating lease right-of-use assets

     2,694

     613

     Restricted cash

     2,862

     2,862

     Inventory, non-current

     24,101

     11,540

     Other long-term assets

     1,693

     1,693

     Total assets
      
     $
     240,289

     $
     378,318

     Liabilities and Stockholders’ Deficit

     Current liabilities:

     Accounts payable
      
     $
     1,075

     $
     10,507

     Accrued expenses

     65,349

     53,232

     Accrued interest

     1,764

     1,711

     Operating lease liabilities, current

     591

     501

     Current portion of revenue interest financing liability

     24,344

     19,777

     Total current liabilities

     93,123

     85,728

     Long-term debt, net of discount

     207,093

     201,409

     Revenue interest financing liability

     348,984

     333,261

     Operating lease liabilities

     2,123

     —

     Other long-term liabilities

     11,500

     11,500

     Total liabilities

     662,823

     631,898

     Commitments and contingencies (Note 3)

     Stockholders’ deficit:

     Preferred stock, $0.0001 par value; authorized shares — 40,000,000