Phathom Pharmaceuticals (PHAT) Research & Development (2018 - 2026)
Phathom Pharmaceuticals (PHAT) reported Research & Development of $7.8 million for Q1 2026, down 15.39% year-over-year from $9.2 million in Q1 2025, and up 3.71% quarter-over-quarter from $7.5 million in Q4 2025.
Phathom Pharmaceuticals (PHAT) Research & Development (2018 - 2026) Analysis & Trends
Phathom Pharmaceuticals (PHAT) has 9 years of Research & Development data on file, last reported at $7.8 million in Q1 2026.
- Research & Development for Q1 2026 came in at $7.8 million, down 15.39% year-over-year; the trailing twelve-month figure through Mar 2026 was $31.4 million (down 7.3% YoY), and the FY2025 annual result was $32.8 million, down 3.82% from the prior year.
- Research & Development grew to $7.8 million in Q1 2026 per PHAT's latest filing, from $7.5 million in the prior quarter.
- Over five years, Research & Development peaked at $19.0 million in Q3 2022 and troughed at $7.0 million in Q3 2025.
- A 5-year average of $11.5 million and a median of $9.4 million in 2024 frame the typical range for Research & Development.
- The sharpest annual moves came in 2024 and 2025: Research & Development sank 42.21% in 2024, then grew 23.05% in 2025.
- A 5-year view of Research & Development shows it stood at $15.9 million in 2022, then fell by 16.0% to $13.4 million in 2023, then tumbled by 35.92% to $8.6 million in 2024, then declined by 12.7% to $7.5 million in 2025, then rose by 3.71% to $7.8 million in 2026.
- Business Quant data shows PHAT's Research & Development at $7.8 million in Q1 2026, $7.5 million in Q4 2025, and $7.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Alterity Therapeutics | 925,601.88 Bn | 925,601.85 Bn | - | 4.32 Mn |
| 2 | Belite Bio | 58,560.00 Bn | 58,560.00 Bn | - | 15.66 Mn |
| 3 | Quantum Biopharma | 17,284.41 Bn | 17,284.40 Bn | - | 626,092.00 |
| 4 | Legend Biotech | 2,809.00 Bn | 2,808.71 Bn | 242.10 Mn | -101.30 Mn |
| 5 | Evaxion A | 1,334.43 Bn | 1,334.42 Bn | - | -2.30 Mn |
| 6 | Akari Therapeutics | 1,312.27 Bn | 1,312.26 Bn | - | 1.46 Mn |
| 7 | Psyence Biomedical | 212.16 Bn | 212.16 Bn | - | 357,444.00 |
| 8 | Vertex Pharmaceuticals | 114.83 Bn | 107.58 Bn | 2.59 Bn | 961.60 Mn |
| 9 | Abivax | 91.96 Bn | 91.96 Bn | - | -58.00 Mn |
| 10 | Phathom Pharmaceuticals | 895.99 Mn | 712.23 Mn | 46.31 Mn | 7.77 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |
| Jun 30, 2021 | 21.60 Mn |