2022-08-02 | NDAQ:PHAT | Press release

The Law Firms of Frank R. Cruz Announces Investigation of Phathom Pharmaceuticals, Inc. (“Phathom” or the “Company”) (NASDAQ: PHAT) on behalf of investors regarding possible violations by the Company of federal securities laws.

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On August 2, 2022, Phathom disclosed that it had “detected traces of a nitrosamine in the drug product vonoprazan in [its] post-approval testing as [it] prepared for commercial launch.” As a result, the company planned to seek approval for additional test methods and controls “to address this impurity before releasing [its] first vonoprazan products on the market.” The Company also said it would cause a delay in planned product launches.

On this news, Phathom’s stock fell $2.61, or 28.8%, to close at $6.46 per share on Aug. 2, 2022, hurting investors.

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If you have purchased Phathom securities, have information or want to know more about these claims, or have any questions regarding this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, Law Firms Lawyers for Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067 at 310-914-5007, by email at info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If requesting by email, please include your mailing address, phone number and number of shares purchased.

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