NEW YORK, May 31, 2023 /PRNewswire/ -- Attention Phathom Pharmaceuticals, Inc. ("Phathom") (NASDAQ: PHAT) shareholders:
The Law Offices of Vincent Wong announce that an investigation has commenced into Phathom and certain of its officers and directors regarding potential securities fraud. The investigation concerns, in part, the below:
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.
If you suffered a loss on your investment in Phathom, contact us about a possible lawsuit and potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/phathom-class-action-submission-form?wire=4
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
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SOURCE The Law Offices of Vincent Wong
