NasdaqGS:PHATPharmaceuticals
Phathom Pharmaceuticals (PHAT) Stock Slides Despite Cash Profit Breakthrough
Phathom Pharmaceuticals came into this earnings print with a bruised stock chart, down double digits over the past month and quarter, and it slipped another 3.1% to US$8.75 in the first full trading day after results. The headline, however, is not the share price. The company reported its first quarter of operating profit on a cash basis excluding stock based compensation, on revenue of US$74.3m.
For a gastrointestinal focused biotech that has been firmly in loss making territory, that shift...