NEW YORK, Nov. 02, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation into potential securities lawsuits on behalf of shareholders of Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) arising from allegations that Phathom may have disclosed materially misleading business information to the investing public .

SO WHAT: If you have purchased Phathom securities, you may be entitled to compensation without payment of out-of-pocket expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=7943 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] or [email protected] for information about the Class Action.

WHAT IS THIS ABOUT: On August 2, 2022, prior to the close of trading, Phathom issued a press release titled, “Phathom Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Business Updates,” announcing that “in our post-market approval, we have detected trace amounts of a nitrosamine in a vonoprazan Drugs have identified testing as we prepare for commercial launch.” The press release also announced that “[t]The Company is working with the FDA and plans to approve and implement an additional test method, specification, including a proposed acceptable intake limit, and additional controls to address this contamination prior to commercializing our first Vonoprazan-based products.” Eventually, Phathom announced that “[t]These additional activities will result in a delay in the planned product launches of VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK.”

As a result of this news, Phathom’s stock price fell $2.61 per share, or 28%, to close at $6.46 per share on August 2, 2022.

WHY ROSES LAW: We encourage investors to select qualified advisors with a track record in leadership positions. Companies often have…