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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Phathom Pharmaceuticals, Inc. Investors: Please contact the Portnoy Law Firm to recover your losses

PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
January 5, 2023 GMT

Investors cancontactthe law firm at no cost to learn more about recovering their losses

LOS ANGELES, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Phathom Pharmaceuticals, Inc. (“Phathom” or the “Company”) (NASDAQ: PHAT) investors that the law firm has initiated an investigation on behalf of investors that lost money on their Phathom Pharmaceuticals, Inc. stock. Phathom Pharmaceuticals, Inc. investors are encouraged to contact the firm to discuss their legal rights.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

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.”

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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.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

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Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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