PHAT – PHAT NEWS: The Klein Law Firm Initiates an Investigation Involving Possible Securities Fraud Violations by Officers of Phathom Pharmaceuticals, Inc.
NEW YORK, May 29, 2023 /PRNewswire/ — The Klein Law Firm announces that it is investigating allegations that Phathom Pharmaceuticals, Inc. (“Phathom”) (NASDAQ: PHAT) violated federal securities laws.
CURRENT INVESTIGATION DETAILS: On August 2, 2022, before market hours, Phathom issued a press release entitled “Phathom Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Business Updates” which announced that “we detected trace levels of a nitrosamine in vonoprazan drug product in our post-approval testing as we prepared for commercial launch.” Further, the press release announced that “[t]he Company is working with the FDA and plans to obtain approval of and implement an additional test method, specification, including a proposed acceptable intake limit, and additional controls to address this impurity prior to releasing our first vonoprazan-based products to the market.” Finally, Phathom announced that “[t]hese additional activities will result in a delay of the planned VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK product launches.”
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.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the potential claims on behalf of PHAT investors, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link:
https://www.kleinstocklaw.com/pslra-1/phathom-lawsuit-loss-submission-form?wire=4
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
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New York City, NY 10017
[email protected]
Telephone: (212) 616-4899
www.kleinstocklaw.com
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