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Investigation announced for Investors in shares of Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) over potential Wrongdoing

09-21-2022 07:18 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) shares over potential wrongdoing.

An investigation on behalf of investors in Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) shares over potential wrongdoing.

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Phathom Pharmaceuticals, Inc.

Investors who purchased shares of Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Phathom Pharmaceuticals, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

Florham Park, NJ based Phathom Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. On August 2, 2022, before market hours, Phathom Pharmaceuticals, Inc. issued a press release entitled "Phathom Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Business Updates" which announced that "we detected trace levels of a nitrosamine in vonoprazan drug product in our post-approval testing as we prepared for commercial launch." Further, the press release announced that "[t]he Company is working with the FDA and plans to obtain approval of and implement an additional test method, specification, including a proposed acceptable intake limit, and additional controls to address this impurity prior to releasing our first vonoprazan-based products to the market." Finally, Phathom Pharmaceuticals, Inc. announced that "[t]hese additional activities will result in a delay of the planned VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK product launches."

Shares of Phathom Pharmaceuticals, Inc. declined from $37.17 per share on September 3, 2021, to as low as $6.25 per share on August 2, 2022.

Those who purchased shares of Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) have certain options and should contact the Shareholders Foundation.

Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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