Phathom Pharmaceuticals Stock Drops 23% As Loss Widens In Q1

(RTTNews) - Phathom Pharmaceuticals, Inc. (PHAT) shares plunged 25.41 percent to $3.20 during Thursday's trading after the company reported a first-quarter net loss of $94.3 million, widening from $82.9 million a year ago.

The stock opened at $4.00 and has traded between $3.25 and $4.00 so far today on the Nasdaq. It previously closed at $4.29 and has a 52-week range of $3.25 to $19.71. Volume reached 2.42 million shares, well above the average of 1.2 million.

Despite the loss, net revenue jumped to $28.5 million from $1.9 million in the prior-year period, driven by continued momentum in the second year of VOQUEZNA product sales.