Latham & Watkins Advises Phathom Pharmaceuticals in Pricing of US$130 Million Public Offering of Common Stock

Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases, has announced the pricing of its underwritten public offering of 11,125,000 shares of its common stock at a price to the public of US$11.75 per share. The gross proceeds to Phathom from the offering, before deducting the underwriting discounts and commissions and other offering expenses, are expected to be approximately US$130.7 million. In addition, Phathom has granted the underwriters a 30-day option to purchase up to an additional 1,668,750 shares of common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about May 26, 2023, subject to satisfaction of customary closing conditions.

Latham & Watkins LLP advised Phathom in the offering, with a capital markets team led by San Diego partners Cheston Larson and Matt Bush, and counsel Anthony Gostanian, with associates Peter Simon and Rachel Staub.