Phathom Pharmaceuticals (PHAT) Research & Development (2018 - 2026)
Phathom Pharmaceuticals (PHAT) recorded Research & Development of $7.81 million in Q2 2026, down 13.9% from $9.08 million a year earlier but up 0.5% 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 $30.1 million as of Jun 30, 2026, down 15.3% 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%).
- Quarterly Research & Development has ranged from $7.03 million in Q3 2025 to $19.02 million in Q3 2022 over the past five years.
- On a year-over-year basis, Research & Development has declined for four consecutive quarters, with an average decline of 13.2% over the last eight quarters.
- Peak year-over-year performance for Research & Development in the last five years was growth of 23.0% in Q2 2025, against a decline of 67.5% in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at $7.77 million (Q1 2026), $7.49 million (Q4 2025) and $7.03 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 993.80 Mn |
| 10 | Phathom Pharmaceuticals | 588.51 Mn | -51.44 Mn | 59.18 Mn | 7.81 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| 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 |
| Sep 30, 2021 | 16.61 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();