Phathom Pharmaceuticals (PHAT) Research & Development (2018 - 2026)
Phathom Pharmaceuticals (PHAT) posted quarterly Research & Development of $7.8 million for Q2 2026, down 13.92% year-over-year from $9.1 million in Q2 2025, and up 0.54% quarter-over-quarter from $7.8 million in Q1 2026.
Phathom Pharmaceuticals (PHAT) Research & Development (2018 - 2026) Analysis & Trends
Phathom Pharmaceuticals (PHAT) has reported Research & Development for 9 consecutive years, with $7.8 million the latest figure, recorded in Q2 2026.
- In Q2 2026, Research & Development fell 13.92% year-over-year to $7.8 million; the TTM figure through Jun 2026 stood at $30.1 million (down 15.29% YoY), while the FY2025 annual figure was $32.8 million, down 3.82% from the prior year.
- Research & Development improved to $7.8 million in Q2 2026 per PHAT's latest filing, from $7.8 million in the prior quarter.
- Across five years, Research & Development topped out at $19.0 million in Q3 2022 and bottomed at $7.0 million in Q3 2025.
- Historically, Research & Development has averaged $11.3 million across 5 years, with a median of $9.3 million in 2024.
- Annual changes were most pronounced in 2024 — Research & Development sank 42.21% — and 2025, when it grew 23.05%.
- Phathom Pharmaceuticals' Research & Development stood at $15.9 million in 2022, then retreated by 16.0% to $13.4 million in 2023, then plunged by 35.92% to $8.6 million in 2024, then fell by 12.7% to $7.5 million in 2025, then climbed by 4.27% to $7.8 million in 2026.
- Business Quant data shows PHAT's Research & Development at $7.8 million in Q2 2026, $7.8 million in Q1 2026, and $7.5 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 1.37 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 394.92 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 612.28 Mn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 1,146.05 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 97.90 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 413.13 Mn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 210.03 Mn |
| 10 | Phathom Pharmaceuticals | 767.07 Mn | 581.73 Mn | 59.18 Mn | 7.81 Mn |
Historic Data
Download 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 |