PHAT Phathom Pharmaceuticals Inc

$PHAT In addition to all the previous data and analysis the FDA did prior to granting voquezna the GAIN extension, consider the following: voquezna is the active moiety but the dual and triple packs are the QIDPs with GAIN protection… if the court lets voquezna go generic first, how do you stop people from manually circumventing the GAIN protection by purchasing the now generic subparts individually? You cant. It basically would undo the whole GAIN act protection in this case

$PHAT New shorts from the BDM lawsuit announcement are about to be wrecked. No volume to cover, enjoy your gap up

$PHAT short hit piece. Does anyone in America actually believe some no name generic manufacturer from India is going to strong arm our FDA under our administration to reverse their decision so that India can reap rewards? Furthermore if you were questioning the demand for Voquezna this should solidify it. BDR drugs stateside will be under a microscope, wouldn’t be surprised if they end up with a few more random site visits, audits, etc. I’d want to know who printed off this move.

$PHAT this could be the exact data/presentation we’re looking for. Highlighting how ridiculous PPIs are and how much the drug costs over time compared to the far superior compound of Voquezna and the tangible healing effects. NET/NET - $PHAT Treatment SAVES patients and insurers. GIs would be wise to phase off PPIs and use Voquezna as it works better, heals damage, and has a BETTER safety profile. Cost-Effectiveness of Vonoprazan Versus Proton Pump Inhibitors in Adults With Erosive Esophagitis in the United States: A Markov Model of Lifetime Outcomes Poster: P5160 Time: 10:30 AM – 4:00 PM CDT Presenter: Nicholas J. Shaheen, MD, MPH, Chief of the Division of Gastroenterology and Hepatology and Bozymski-Heizer Distinguished Professor of Medicine at the UNC School of Medicine

$PHAT The past 3 months have been a textbook institutional shakeout designed to crush retail. While short-driven panic, artificial margin calls, and cascade stop-loss triggers wiped out weak hands, the smart money did the exact opposite. Institutional ownership quietly surged from 88% to 91.7%, alongside heavy insider holding. They manufactured a fake "10-year patent risk" headline to steal your cheap shares right before the October 29 earnings call. Even in a hypothetical worst-case lawsuit scenario, the absolute regulatory floor with pediatric extensions protects the molecule into late 2030/2031, making a sub-1x forward sales multiple ($450M market cap vs $500M+ projected revs) completely ridiculous. The spring is heavily coiled, backed by massive, multi-layered fundamental catalysts:

$PHAT good call next week, quick resolution here in PHAT favor given FDA already dove into this. Buying with both hands down hwre.

$PHAT management is executing. Exactly what we wanted to see. Dont let short term price action fool you out of this.

$PHAT Good morning Team! For what it’s worth. This note was “redacted” from a letter sent. PHAT fully merits its hard won exclusivity for its drug VOQUEZNA; however, BDR is under the impression that it's entitled to a free pass thereby allowing itself to freely profit from a generic version of PHAT's drug without doing the costly research that PHAT underwent to develop it. BDR Pharmaceuticals has gotten so used to plundering intellectual property from other companies to make generic rip-offs that it's unable and unwilling to comprehend the effort required to manufacture a novel drug on its own. It needs to start funding its own research and take financial risks that many other companies routinely face. BDR's attempt to steal PHAT'S intellectual property must be halted and their frivolous lawsuit quashed without further delay.

$PHAT this presentation should be cited by analysts. If we can get a decent number for Q3 and solid guidance, this ship should be ready for takeoff. Having some of the top GI experts showcase how Voquezna can save money for insurers should also pique the interest of potential buyers

$PHAT 576k buy. Would have expected more of a candle. They sure push it down easier with less volume

$PHAT red flag day on positive earnings but drops 30% on an Indian pizza shop suing the FDA

$PHAT Down to 9.7 million short shares. That’s 4 reports in a row of shorts exiting their positions. Last time we were at these levels was in April. Am I scared that this could mean more short power at these lower levels? Yes. Am I also hopeful they’re taking these opportunity to exit for good instead? Yes

$PHAT BDR is a minor Indian company. Litigation is costly. How much money BDR can invest into this considering a very modest return they can hope for? Generic prices and margins are low, competition is high and BDR is not ready to compete with majors. This is for publicity only, headline grabbing, probably in preparation for the IPO in India.

$PHAT This stock equity is trading with every possible bad news scenario priced in. War Famine Nuclear Fall out. A company growing at 70% revenue yoy trading at less than 2x current sales and essentially 1x next year sales. I have never seen that before. ANDA lawsuits are common. It is unusual to challenge the GAIN act but a drug like Voquezna has enormous appeal to indian generic manufacturers. This is an easy and cheap to make drug. They are drooling over it. The lawsuit is against FDA. A foreign company suing a domestic MAGA government agency is a bold move that probably will not be recieved well...

$PHAT To materialize as a serious threat the competition has to go through several ifs: 1. The FDA approval. It's likely but not 100%-certain. 2. Funding. Sebela is a small company. They've sold some assets but they are likely still looking for additional financing. This is a low-price, broad-market product that needs a lot of calls and footwork. Voquezna exclusivity questions are certainly adding friction to fundraising. Even some low chance of early in-class generics is an additional risk. Phathom has four years to resolve the issue, Sebela needs money now. 3. Marketing strategy. Sebela would need to do something aggressive like cutting the price dramatically, otherwise their marketing efforts are just going to add some tailwind for the PCAB class as discussed on the today's call. Aggressive means even more money for Sebela to raise.

$PHAT this is a three ring circus of manipulation. Tell me that lawsuit wasn’t timed 😆 they had an excellent quarter with a positive earnings surprise so it’s getting sold off? We know better 😎👍

$PHAT COGS is 20%. BUT this 20% includes the ~12.5% takeda royalty. The remaining fullfillment/shipping/API cost is maybe 7.5%. So cheap.. R&D is negligible and largely done SGA will slowly scale from about 230mm on 315mm of revenue. It will plateau at ~250mm at 600mm revenue. It will not increase further. They have carried NOL reserve of about 1.2B which means tax free profit for a while. Even with your model: At 400mm revenue they will generate ~85mm FCF At 500mm revenue they will generate ~160mm FCF At 600m they will generate ~230mm FCF If they reach 1B, they will generate 550mm FCF They have a bit less than 500mm of net owed debt of which half the RIFA (275mm) is not even due until 2037 All debts paid and a massive war chest of cash leftover Now imagine if BP took this over.....SGA drops to zero. GTN increases. Revenue ramps twice as fast and twice as high with double the margins. Especially if its Takeda who already owns 10% of the stock outstanding But transaction needs to happen ASAP...

$PHAT Company needs to sell to big pharma already - they did the go it alone approach and the launch is doing fine, but the market just isnt giving them the benefit of the doubt anymore, so its time to sell to a big pharma for a decent but reasonable premium

$PHAT BDR's lawsuit will make it more difficult for Sebela to raise money for the tegoprazan marketing. Whatever we lose because of the risk to exclusivity, we should gain due to the lower risk of competition.

$PHAT Phathom Pharmaceuticals to Report Third Quarter 2026 Financial Results and Provide Business Update on Thursday, October 29, 2026 BAF!!!! Hope everyone is positioned