PHAT - Phathom Pharmaceuticals down 8% prices ~$131M offering

May, 24 2023 05:04 AM Phathom Pharmaceuticals Inc.

2023-05-24 05:04:27 ET

Biopharmaceutical company, Phathom Pharmaceuticals ( NASDAQ: PHAT ) slides 8% as it prices ~11.13M shares at a price to the public of $11.75 per share.
The gross proceeds are expected to be ~$130.7M.
Underwriters have a 30-day option to purchase up to an additional ~1.67M shares.
The offering is expected to close on or about May 26, 2023.
Net proceeds to fund the clinical development of vonoprazan, pre-commercial activities and commercialization expenses and for working capital and general corporate purposes.

For further details see:

Company Name:	Phathom Pharmaceuticals Inc.
Stock Symbol:	PHAT
Market:	NYSE