Shares of Phathom Pharmaceuticals (NASDAQ: PHAT) were up 44.6% this past week, according to data provided by S&P Global Market Intelligence. The stock closed last Friday at $8.61, then closed at $12.36 on Friday. Despite the rise, the stock is down nearly 40% from its 52-week high of $19.95. 

Phathom is a clinical-stage biotech company that specializes in treating gastrointestinal tract disorders. In 2019, it was spun off from Takeda Pharmaceuticals and Frazier Healthcare.

Its lead therapy is Vonoprazan, a potassium-competitive acid blocker. The drug's possible approval by the Food and Drug Administration (FDA) as a treatment for erosive esophagitis has been pushed back because the regulator had concerns about trace levels of nitrosamine impurities in the drug, the company said on Jan. 3.

Continue reading

Source Fool.com