Phathom Pharmaceuticals Inc

Intermediate bearish pressure remains dominant for PHAT as price trades below declining EMAs with repeated rejection at moving average resistance, favoring selling into failed relief rallies around the 9/21/50 EMA confluence for tactical downside participation while acknowledging the longer-term uptrend.

• ↑Q4 2025 revenue of $57.6M rose 217% YoY, meeting guidance
• ↑Q2 2026 delivered positive operating profit ex-stock comp for first time
• ↓Full-year 2025 revenue of $175.1M masks ongoing profitability challenges