All three tenses have at least two readings, so the archetype blend applies as printed.
Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.
What did they actually do?
Has it survived what it has been through?
1 warning event since 2019; the latest 2019-12-02.
From the record
Phathom Pharmaceuticals, Inc.'s filings since 2019 show 1 warning event: a notice about its exchange listing (8-K item 3.01, the latest 2019-12-02) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
4 filed years; profitable in 0 of 4.
From the record
Phathom Pharmaceuticals, Inc.'s 4 filed years say what it did: it rose in 2 of 2 years; it never fell from a peak; net income was positive in 0 of 4 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
SI estimate 4.7/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: Phathom Pharmaceuticals, Inc.'s shareholder treatment is put at 4.7 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 47% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.
What are they doing right now?
Is it financially healthy right now?
Leverage 269%: owes 269¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, Phathom Pharmaceuticals, Inc.'s shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned about 59 cents per dollar of everything the company owns. Leverage: it owed about 269 cents per dollar of assets, and net share issuance: its share count grew 15.4% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
top 40% of 315 in its family; net margin -126.3%.
From the record
Phathom Pharmaceuticals, Inc.'s standing among 315 graded names in its industry family: revenue of $175 million in fiscal 2025 ranks in the top 31% by size; a net margin of -126.3% ranks in the top 49% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
bottom 41% of 315 in its family for leadership; chief executive since 2025.
From the record
Phathom Pharmaceuticals, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Basta, Steven L (President and CEO, as filed), filing under that title since 2025-04-03, 1.6 years (bottom 20% of its family); the 11 officers and directors filing in the last fifteen months have been on the record a median of 4.6 years (bottom 30%); 3 officer or director changes were reported on Form 8-K since 2023-11-13, against the 11 people in charge now (top 26%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
bottom 38% of 273 in its family for room to expand.
From the record
Phathom Pharmaceuticals, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $130 million against debt of $209 million leaves -30.5% of its assets as net cash, bottom 4% of its family; cash from operations less capital spending is -95.4% of revenue (top 50%); a gross margin of 87.1% (top 23%); research spending of 18.7% of revenue (bottom 23%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
bottom 46% of 306 in its family for growth drivers.
From the record
Phathom Pharmaceuticals, Inc.'s growth drivers, from the filed years to fiscal 2025: the newest year grew 217.2% (top 10%); research spending grew -22.9% a year (bottom 17%); capital spending grew -39.6% a year (bottom 29%) (its annual reports). Phathom Pharmaceuticals, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
top 29% of 233 in its family for expectations against reality.
From the record
Phathom Pharmaceuticals, Inc.'s newest year against its own record: net income of $221 million against a prior three-year average of $245 million (bottom 47%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 5%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made