Company: PHAT
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034183
Chunk: 122

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 16
Chunk 122
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/or penalties related to income tax matters as a component of income tax expense. The Company has no accrual for interest or penalties on its balance sheet as of December 31, 2024 and 2023, and has not recognized interest and/or penalties in its statement of operations for the years ended December 31, 2024 and 2023.The Company is subject to taxation in the United States and various states. The Company is not currently under examination by any taxing authorities. Due to the carryover of tax attributes, the statute of limitations is currently open for tax years since inception.

10. Segment InformationThe Company's chief operating decision maker, or CODM, the Chief Executive Officer, manages the Company’s business activities as a single reportable segment. The segment derives its current revenues from the sale of VOQUEZNA products. Accordingly, the CODM uses net loss to measure segment profit or loss, allocate resources and assess performance. Further, the CODM reviews and utilizes functional expenses (research and development, general and administrative, sales and marketing and stock-based compensation) to manage the Company’s operations. Other segment items included in net loss are interest income, interest expense and other expense, which are reflected in the statements of operations and comprehensive loss. The measure of segment assets is reported on the balance sheets as total assets. 

F-27

The following table presents selected financial information with respect to the Company’s single operating segment for the years ended December 31, 2024 and 2023 (in thousands):

        Years EndedDecember 31,

        2024

        2023

        Product revenue, net
         
        $
        55,252

        $
        682

        Less:

        Cost of revenue

        7,973

        167

        Research and development

        28,515

        37,597

        General and administrative

        28,192

        23,623

        Sales and marketing

        243,992

        61,582

        Stock-based compensation

        24,047

        45,025

        Interest income

        (15,158
        )

        (7,876
        )

        Interest expense

        72,009

        41,968

        Other expense, net

        8

        188

        Segment net loss
         
        $
        (334,326
        )
         
        $
        (201,592