NEW YORK, Aug. 06, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) arising from allegations that Phathom could have provided misleading business information to the investing public.
SO WHAT: If you purchased Phathom securities, you may be entitled to compensation without payment of fees or costs through a contingent fee arrangement. The Rosen law firm is preparing a class action lawsuit to recover investors’ losses.
WHAT TO DO NEXT: To join the potential class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=7943 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for class action information.
WHAT DOES IT TALK ABOUT: On August 2, 2022, before market hours, Phathom issued a press release titled “Phathom Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Business Updates” which announced that “we have detected traces of a nitrosamine in the vonoprazan drug product in our post-approval testing as we prepared for commercial launch. Additionally, the press release announced that “[t]The company is working with the FDA and plans to obtain approval and implement an additional test method, specification, including a proposed acceptable intake limit, and additional controls to address this impurity prior to marketing our first vonoprazan products. Finally, Phathom announced that “[t]These additional activities will cause a delay in the planned launches of the VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK products.
On this news, Phathom’s stock price fell $2.61 per share, or 28%, to close at $6.46 per share on August 2, 2022.
WHY THE ROSEN LAW: We encourage investors to select qualified lawyers with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827