Company: PHAT
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034183
Chunk: 274

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 274
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 disclosure requirements for significant segment expenses. The improved disclosure requirements apply to all public entities that are required to report segment information, including those with only one reportable segment. The Company adopted the guidance in the fiscal year beginning January 1, 2024 using a retrospective method. See Note 10 for further detail.Recently Issued Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09 – Income Taxes (Topic 740) – Improvements to Income Tax Disclosures, which improves income tax disclosures primarily relating to the rate reconciliation and income taxes paid information. This includes a tabular reconciliation using both percentages and reporting currency amounts, covering various tax and reconciling items, and disaggregated summaries of income taxes paid during the period. For public business entities, the guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company intends to adopt the guidance in the fiscal year beginning January 1, 2025. The Company is currently evaluating the effect of adopting this pronouncement on our financial statements and disclosures.

2. Balance Sheet DetailsProperty and Equipment, netProperty and equipment, net, consist of the following (in thousands): 

        December 31,

        2024

        2023

        Computer equipment and software
         
        $
        1,546

        $
        1,477

        Furniture and fixtures

        1,124

        1,089

        Leasehold improvements

        160

        139

        Equipment

        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,