NEW YORK, May 19, 2023 (GLOBE NEWSWIRE) — WHY: The Law Firm of Rosen, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Phathom Pharmaceuticals, Inc. PHAT This stems 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 under 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 potential class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=7943 or call Phillip Kim, Esq. at. toll free at 866-767-3653 or by email pkim@rosenlegal.com or case@rosenlegal.com for class action information.

WHAT IS THIS ABOUT: On August 2, 2022, prior to market close, 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 identified trace amounts of a nitrosamine in the vonoprazan drug product.” have found.” testing as we prepared for commercial launch. In addition, the press release said: “[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 eliminate this impurity before we commercialize our first oprazan-based products.” Finally, Phathom announced , that “[t]These additional activities will result in a delay of the planned VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK product launches.”

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 proven track record in leadership positions. Quitting companies often do not have comparable experiences,…