San Diego, CA -- (SBWire) -- 11/15/2022 --Phathom Pharmaceuticals, Inc is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Phathom Pharmaceuticals, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Florham Park, NJ based Phathom Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. On August 2, 2022, before market hours, Phathom Pharmaceuticals, Inc. issued a press release entitled "Phathom Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Business Updates" which announced that "we detected trace levels of a nitrosamine in vonoprazan drug product in our post-approval testing as we prepared for commercial launch." Further, the press release announced that "[t]he Company is working with the FDA and plans to obtain approval of and implement an additional test method, specification, including a proposed acceptable intake limit, and additional controls to address this impurity prior to releasing our first vonoprazan-based products to the market." Finally, Phathom Pharmaceuticals, Inc. announced that "[t]hese additional activities will result in a delay of the planned VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK product launches."
Shares of Phathom Pharmaceuticals, Inc. declined from $37.17 per share on September 3, 2021, to as low as $6.25 per share on August 2, 2022.
Those who purchased shares of Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:PHAT Shareholder Alert: Investigation over Possible Securities Laws Violations by Phathom Pharmaceuticals, Inc.
An investigation for investors in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shares over potential securities laws violations by Phathom Pharmaceuticals, Inc. was announced.