The Law Offices of Frank R. Cruz announces an investigation of Phathom Pharmaceuticals, Inc. (“Phathom” or the “Company”) (NASDAQ: PHAT) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On August 2, 2022, Phathom disclosed that it had “detected trace levels of a nitrosamine in vonoprazan drug product in [its] post-approval testing as [it] prepared for commercial launch.” As a result, the Company planned to seek approval for additional testing methods and controls “to address this impurity prior to releasing [its] first vonoprazan-based products to the market.” The Company also stated that this will result in a delay of planned product launches.
On this news, Phathom’s stock fell $2.61, or 28.8%, to close at $6.46 per share on August 2, 2022, thereby injuring investors.
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If you purchased Phathom securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
