PHAT Phathom Pharmaceuticals, Inc. Insider Trading

Director Topper James N acquired 3,780 shares of PHAT at $3.86 on 2025-05-21; stock now -79.4% from 52-week high at $4.02 current price

Director Topper James N purchased 3,780 shares at $3.86 on 2025-05-21, increasing his holdings from 55.6K to 59.4K shares. This marks the fifth consecutive buy in five business days, all at PHAT. The stock trades at $4.02, which is -79.4% from the 52-week high of $19.50 and -29.1% lower over the past 90 days. The insider's cross-ticker track record shows 8 prior open-market buys with a 0.00% 90-day win rate, an average 90-day return of -8.7%, and prior buys averaging -12.2% over 30 days. The company is unprofitable (net income of $-94.3M on quarterly revenue of $28.5M) despite 8001.5% annual revenue growth, suggesting significant losses on a dramatically expanded revenue base. The rapid, sequential accumulation at a depressed price without measurable outcomes from prior same-ticker trades raises questions about timing quality and underlying valuation signals.

Director James Topper bought 7,420 shares across 2 transactions for $24,462.49 at PHAT, raising stake 15.4% to 55,623 shares

Director James Topper made 2 separate purchases totaling 7,420 shares for $24,462.49 on May 13–14, 2025, at prices of $3.16 and $3.32—just below the current price of $3.48. The purchases raised his holdings by 15.4% to 55,623 shares. However, this activity occurs within a severely depressed valuation context: the stock is -82.2% from its 52-week high of $19.50 and down -27.0% over 30 days and -39.7% over 90 days. Across his open-market trading history, Topper's track record shows 6 prior buys with an average 90-day return of -8.7% and a 0.00% win rate, suggesting his prior purchase timing has not delivered gains. At PHAT specifically, he has made 3 prior purchases in early May 2025 with outcomes not yet measurable. The company is unprofitable with a net loss of $-94,316,000.00 in the latest quarter and an annual revenue growth of +8001.5%, reflecting recent corporate restructuring or status changes. The combination of significant new investment by a director amid sharp recent price declines, coupled with his historically poor buy-timing record and the company's unprofitability, merits investor attention but does not constitute clear confirmation of near-term opportunity.

Director Topper James N bought 48,203 shares ($152.9K) at average $3.17, now trading -83.0% from 52-week high of $19.50

Director Topper James N executed 3 separate purchases totaling 48,203 shares for $152,916.63 across two trading days in mid-May, establishing an initial position at a blended average price of $3.17. The current price of $3.31 reflects minimal post-purchase movement, though the stock has declined 32.2% over the prior 30 days and 39.6% over 90 days, trading at 83.0% below its 52-week high of $19.50. Phathom remains unprofitable with a net loss of $94,316,000.00 against quarterly revenue of $28,519,000.00, and the director's own cross-ticker buy history shows zero 90-day wins with an average 90-day return of -8.7%, providing limited confidence that this entry point will prove prescient as market conditions continue to deteriorate.

Director Asit Parikh bought 10,000 shares (10.0K shares) at blended avg $2.50 on PHAT; stock down 88.3% from 52-week high.

Asit Parikh, a Director at Phathom Pharmaceuticals, executed 2 purchases totaling 10,000 shares for $24,984.50 on May 6–7, 2025, at a blended average price of $2.50, increasing his holdings by 11.7% to 95,500 shares. The timing is noteworthy: the current stock price of $2.29 is 88.3% below the 52-week high of $19.50, and the stock has declined 46.1% in the prior 30 days and 59.9% in the prior 90 days. However, Parikh's prior trades at PHAT reveal a pattern of poor timing: across 5 measurable prior purchases at this ticker, none achieved positive 90-day returns, with outcomes ranging from +10.4% (30-day on a March 2025 buy) to -48.1% (90-day on a December 2024 buy). The company is unprofitable ($-94.3M net income in the latest fiscal year) despite strong revenue growth of +8001.5% year-over-year, though quarterly revenue stands at only $28.5M. This purchase occurs in a heavily distressed context with no clear evidence that prior buys at depressed valuations by this director have proven prescient.

Director Parikh Asit buys 10,000 shares of PHAT at $4.42; stock down 75.2% from $19.50 high, post-transaction holdings 85.5K shares.

Parikh Asit purchased 10,000 shares at $4.42 on 2025-03-13, increasing his holdings by 13.2% to 85.5K shares total. The timing arrives amid severe price deterioration: PHAT trades at $4.84, down 75.2% from its 52-week high of $19.50, and has declined 16.1% over the past 30 days and 42.2% over 90 days. His prior trades at PHAT show a poor timing pattern overall—only 1 of 5 prior buys achieved positive 90-day returns, with the most recent purchase (2024-12-13) returning -14.6% at 30 days and -48.1% at 90 days. Fundamentally, the company remains unprofitable with a net loss of $-85.6M against revenue of $16.4M, though annual revenue growth reached 8001.5%, suggesting a very early-stage or loss-making commercialization phase.

Director Parikh Asit bought 10,000 shares of PHAT at $8.12; stock -56.0% over 90 days, -58.3% from 52-week high.

Director Parikh Asit purchased 10,000 shares at $8.12 on 2024-12-13, increasing his holdings by 15.3% to 75,500 shares. The stock has declined sharply—down 56.0% over the past 90 days and 58.3% from its 52-week high of $19.50—creating unfavorable timing for the purchase. At this same ticker, Parikh's prior three buys from November 2023 each showed 90-day losses (-9.2%, -13.9%, -13.9%), and only 1 of his 4 prior PHAT buys was well-timed at the 90-day mark. The company remains unprofitable with negative net income of $-85.6M against quarterly revenue of $16.4M, limiting fundamental tailwinds for recovery.

Director Karbe Frank purchases 12,500 PHAT shares at $7.93; stock down -56.0% in 90 days amid -$85.6M net loss.

Karbe Frank, a director at Phathom Pharmaceuticals, purchased 12,500 shares at $7.93 on 2024-12-13, increasing his holdings by 28.1% from 44,500 to 57,000 shares. The purchase occurs in a context of significant stock deterioration: PHAT has declined 56.0% over the past 90 days and is trading 58.3% below its 52-week high of $19.50. Fundamentally, the company reported a net loss of $85.6M against quarterly revenue of $16.4M, indicating ongoing unprofitability. Frank's cross-ticker insider track record shows only 2 prior open-market buys with an average 90-day return of -19.7%, suggesting his purchase decisions have not historically preceded price recovery. The timing of this buy—following severe downward momentum and amid continued operating losses—merits investor scrutiny regarding both the company's near-term outlook and the director's own assessment of value.