By Nicholas G. Miller
Shares of Phathom Pharmaceuticals fell after the company said it would sell stock or warrants to buy stock through a public offering.
The stock slid 12% to $15.88 in after-hours trading. It has more than doubled over the past 12 months.
The company did not specify the size of the offering or when it would be completed. It said it would use net proceeds for working capital and commercialization and research and development expenses.
On Wednesday, the company also released preliminary fourth-quarter results, expecting to report net revenues of $57 million to $58 million. Analysts polled by FactSet project fourth-quarter revenue of $56.2 million.
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
January 07, 2026 18:35 ET (23:35 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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