NEW YORK, Jan. 21, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Phathom Pharmaceuticals, Inc. (“Phathom” or the “Company”) FAT. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Phathom and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On January 3, 2022, Phathom issued a press release announc[ing] that the U.S. Food and Drug Administration (FDA) has notified the Company that it has taken no action with respect to the Company’s New Drug Application (NDA) for Vonoprazan, a novel potassium-competitive acid blocker (PCAB) being evaluated for the treatment of erosions esophagitis, on or before the current Prescription Drug User Fee Act (PDUFA) action date of January 11, 2023.” The FDA’s decision came after Phathom’s announcement on August 2, 2022, “that it had detected trace amounts of a nitrosamine impurity, N-Nitroso-Vonoprazan (NVP) in commercial batches and worked closely with the FDA to obtain approval of a proposed acceptable daily intake limit, testing procedure and controls to address this contamination before vonoprazan-based products are placed on the market. Phathom further stated that “The FDA has requested additional stability data showing n that the NVP values ​​stay below [the acceptable daily intake] Limitation during the proposed shelf life of the product.”

As a result of this news, Phathom’s share price fell $3.73 per share, or 31.11%, to close at $8.26 per share on January 4, 2023.

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