Phathom Pharmaceuticals (PHAT) Research & Development (2018 - 2026)
Phathom Pharmaceuticals (PHAT) recorded Research & Development of $8.75 million in Q3 2026, up 24.4% from $7.03 million a year earlier and up 11.9% from the prior quarter.
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Analysis
Phathom Pharmaceuticals (PHAT) Research & Development (2018 - 2026) Analysis & Trends
On a TTM basis, Phathom Pharmaceuticals' Research & Development came in at $31.82 million as of Sep 30, 2026, down 6.0% year-over-year; for FY2025, it came in at $32.78 million, down 3.8% from FY2024.
- Annual Research & Development has declined for five straight years, with a five-year compound annual growth rate of -19.7% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $34.08 million in FY2024 (-31.7%), $49.9 million in FY2023 (-30.2%), $71.44 million in FY2022 (-1.2%) and $72.34 million in FY2021 (-26.3%).
- The Q3 2026 figure is the highest quarterly Research & Development since Q2 2025.
- On a year-over-year basis, Research & Development rose in two of the last eight quarters, with an average decline of 6.5%.
- Peak year-over-year performance for Research & Development in the last five years was growth of 24.4% in Q3 2026, against a decline of 67.5% in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at $7.81 million (Q2 2026), $7.77 million (Q1 2026) and $7.49 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,264.65 Bn | 1,238.27 Bn | 20.46 Bn | 4.25 Bn |
| 2 | Johnson & Johnson | 677.74 Bn | 597.60 Bn | 17.30 Bn | 4.65 Bn |
| 3 | AbbVie | 517.10 Bn | 485.11 Bn | 13.12 Bn | 2.57 Bn |
| 4 | Merck | 362.23 Bn | 325.17 Bn | 13.19 Bn | 4.54 Bn |
| 5 | Novartis Ag | 315.90 Bn | 276.16 Bn | 11.24 Bn | 2.85 Bn |
| 6 | Astrazeneca | 289.40 Bn | 266.24 Bn | 12.86 Bn | 4.05 Bn |
| 7 | Amgen | 249.90 Bn | 201.56 Bn | 7.58 Bn | 2.11 Bn |
| 8 | Gilead Sciences | 209.15 Bn | 184.26 Bn | 6.73 Bn | 1.61 Bn |
| 9 | Pfizer | 165.88 Bn | 113.23 Bn | 12.56 Bn | 3.02 Bn |
| 10 | Phathom Pharmaceuticals | 460.12 Mn | -229.24 Mn | 66.36 Mn | 8.75 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 8.75 Mn |
| Jun 30, 2026 | 7.81 Mn |
| Mar 31, 2026 | 7.77 Mn |
| Dec 31, 2025 | 7.49 Mn |
| Sep 30, 2025 | 7.03 Mn |
| Jun 30, 2025 | 9.08 Mn |
| Mar 31, 2025 | 9.18 Mn |
| Dec 31, 2024 | 8.58 Mn |
| Sep 30, 2024 | 8.69 Mn |
| Jun 30, 2024 | 7.38 Mn |
| Mar 31, 2024 | 9.43 Mn |
| Dec 31, 2023 | 13.39 Mn |
| Sep 30, 2023 | 12.26 Mn |
| Jun 30, 2023 | 12.76 Mn |
| Mar 31, 2023 | 11.48 Mn |
| Dec 31, 2022 | 15.95 Mn |
| Sep 30, 2022 | 19.02 Mn |
| Jun 30, 2022 | 18.82 Mn |
| Mar 31, 2022 | 17.66 Mn |
| Dec 31, 2021 | 13.55 Mn |
API Access
Phathom Pharmaceuticals Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=PHAT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "PHAT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=PHAT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();