Company / R&D Expense
Phathom Pharmaceuticals, Inc. R&D Expense History
FY2018-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$32.8M
FY2025
5-year range
$32.8M / $72.3M
FY2021-FY2025
Trend
-34.3%
vs FY2024
Sector context
#189 of 210
Health Care
What the data says
Among 210 Health Care companies, Phathom Pharmaceuticals, Inc. is in the bottom 10% for r&d expense. Declined from $50M to $33M over the past 2 years.
Based on SEC 10-K filings.
$33M in FY2025 with a 5-year CAGR of -19.7%.
Declined from $50M to $33M over the past 2 years.
Health Care sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- -22.9%
- 5-Year CAGR
- -19.7%
- 10-Year CAGR
- -
Sector benchmark
Bottom 10% in Health CareTop 90% of 210This company $32.8M Sector average $644.0M
▼
-94.9% below sector average
Key checks
Key Insights
- 5-year CAGR of -19.7%, indicating a declining trend.
- In FY2025, r&d expense decreased 34.3% year-over-year.
- Ranks #189 out of 210 companies in the Health Care sector.
- Peak r&d expense was recorded in FY2020.
Company context
Key Data Points
- Altman Z-Score -6.09 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $32.8M | -34.3% |
| FY2024 | $49.9M | +0.0% |
| FY2023 | $49.9M | -30.2% |
| FY2022 | $71.4M | -1.2% |
| FY2021 | $72.3M | -26.3% |
| FY2020 | $98.1M | +381.7% |
| FY2019 | $20.4M | +101770.0% |
| FY2018 | $20.0K | - |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026