NEW
YORK, June 7, 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/?id=40414&from=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