NEW YORK, May 26, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Phathom Pharmaceuticals, Inc.:
On August 2, 2022, before market hours, Phathom issued a press release entitled "Phathom Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Business Updates" which announced that "we detected trace levels of a nitrosamine in vonoprazan drug product in our post-approval testing as we prepared for commercial launch." Further, the press release announced that "[t]he Company is working with the FDA and plans to obtain approval of and implement an additional test method, specification, including a proposed acceptable intake limit, and additional controls to address this impurity prior to releasing our first vonoprazan-based products to the market." Finally, Phathom announced that "[t]hese additional activities will result in a delay of the planned VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK product launches." On this news, Phathom's stock price fell $2.61 per share, or 28%, to close at $6.46 per share on August 2, 2022.
Due to the forgoing, The Gross Law Firm is investigating potential securities fraud claims on behalf of certain Phathom investors. If you incurred a loss on your PHAT investment, please contact us using the link below to discuss your rights.
https://securitiesclasslaw.com/securities/phathom-loss-submission-form/?wire=4
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm
