Phathom Pharmaceuticals Inc. (NASDAQ:PHAT) on Wednesday reported preliminary data for the fourth quarter and full year 2025. The company sees fourth quarter sales of $57 million-$58 million compared to the consensus of $56.16 million.
Non-GAAP operating expenses are anticipated to be $51–$53 million, excluding about $8 million in stock-based compensation.
Full-year 2025 revenue guidance updated to approximately $174.5–$175.5 million from $170 million–$175 million, versus consensus of $173.54 million.
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