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Phathom Pharmaceuticals, Inc. (PHAT) 

Investigation 

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Phathom Pharmaceuticals, Inc. (“Phathom” or the “Company”) (NASDAQ: PHAT). Investors who purchased Phathom securities are encouraged to obtain additional information and assist the investigation.            

 

The investigation concerns whether Phathom has violated federal securities laws.

 

On January 3, 2022, Phathom issued a press release “announc[ing] that the U.S. Food and Drug Administration (FDA) has notified the Company that no action will be taken on the Company’s new drug application (NDA) for vonoprazan, a novel potassium-competitive acid blocker (PCAB), under review as a treatment for erosive esophagitis, on or prior to the current Prescription Drug User Fee Act (PDUFA) target action date of January 11, 2023.”  The FDA’s decision came after Phathom’s announcement, on August 2, 2022, “that it had detected trace levels of a nitrosamine impurity, N-nitroso-vonoprazan (NVP) in commercial batches and was working closely with the FDA to obtain approval of a proposed acceptable daily intake limit, test method, and controls to address this impurity prior to releasing vonoprazan-based products to the market.”  Phathom further stated that “the FDA has requested additional stability data demonstrating that levels of NVP remain below [the acceptable daily intake] limit throughout the proposed shelf life of the product.”  On this news, Phathom’s stock price fell $3.73 per share, or 31.11%, to close at $8.26 per share on January 4, 2023. 

 

If you are aware of any facts relating to this investigation or purchased Phathom shares, you can assist with this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

 

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits.  The firm has recovered hundreds of millions of dollars for investors nationwide.  Attorney advertising. Prior results do not guarantee similar outcomes.

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