NEW YORK, Feb. 14, 2023 (GLOBE NEWSWIRE) — WHY: The Law Firm of Rosen, a global investor rights law firm, continues to investigate potential securities claims on behalf of Phathom Pharmaceuticals, Inc. shareholders. FAT based on 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 through 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 prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=7943 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email pkim@rosenlegal.com or cases@rosenlegal.com for information about the Class Action.

WHAT IS THIS ABOUT: On August 2, 2022, prior to the close of trading, 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 detected trace amounts of nitrosamines in vonoprazan medicinal products as we prepared for commercial launch.” The press release also announced that “[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 address this contamination prior to commercializing our first Vonoprazan-based products.” Eventually Phathom announced that “[t]These additional activities will result in a delay in the planned product launches of VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK.”

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 track record in leadership positions. Exhibiting companies often do not have comparable…