Phathom Pharmaceuticals, Inc.
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On August 2, 2022, Phathom disclosed that it had “detected trace levels of a nitrosamine in vonoprazan drug product in [its] post-approval testing as [it] prepared for commercial launch.” As a result, the Company planned to seek approval for additional testing methods and controls “to address this impurity prior to releasing [its] first vonoprazan-based products to the market.” The Company also stated that this will result in a delay of planned product launches.
On this news, Phathom’s stock fell $2.61, or 28.8%, to close at $6.46 per share on August 2, 2022, thereby injuring investors.