Company: PHAT
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000950170-25-061440
Chunk: 0

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-05-01
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)

     March 31,2025

     December 31,2024

     Assets

     Current assets:

     Cash and cash equivalents
      
     $
     212,315

     $
     297,263

     Prepaid expenses and other current assets

     13,055

     20,866

     Accounts receivable, net

     36,364

     38,797

     Inventory

     3,166

     3,208

     Total current assets

     264,900

     360,134

     Property and equipment, net

     1,354

     1,476

     Operating lease right-of-use assets

     388

     613

     Restricted cash

     2,862

     2,862

     Inventory, non-current

     23,011

     11,540

     Other long-term assets

     1,693

     1,693

     Total assets
      
     $
     294,208

     $
     378,318

     Liabilities and Stockholders’ Deficit

     Current liabilities:

     Accounts payable
      
     $
     11,617

     $
     10,507

     Accrued expenses

     43,028

     53,232

     Accrued interest

     1,803

     1,711

     Operating lease liabilities, current

     316

     501

     Current portion of revenue interest financing liability

     17,268

     19,777

     Total current liabilities

     74,032

     85,728

     Long-term debt, net of discount

     203,245

     201,409

     Revenue interest financing liability

     343,807

     333,261

     Other long-term liabilities

     11,500

     11,500

     Total liabilities

     632,584

     631,898

     Commitments and contingencies (Note 3)

     Stockholders’ deficit:

     Preferred stock, $0.0001 par value; authorized shares — 40,000,000 at March 31, 2025 and December 31, 202