Company: PHAT
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034183
Chunk: 100

Company: Phathom Pharmaceuticals, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 16
Chunk 100
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 Company had no weighted-average unvested shares and 34,503, respectively, to exclude from the weighted-average number of common shares outstanding. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and dilutive common stock equivalents outstanding for the period determined using the treasury-stock and if-converted methods. Dilutive common stock equivalents are comprised of unvested common stock, options and warrants. For the periods presented, there is no difference in the number of shares used to calculate basic and diluted shares 

F-14

outstanding as inclusion of the potentially dilutive securities (warrants, stock options, and restricted stock units) would be antidilutive. Recently Adopted Accounting Standards In November 2023, the FASB issued ASU 2023-07 – Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures, which improves segment disclosure requirements, primarily through enhanced 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