Phathom Pharma slide as FDA declines approval of inflammation treatment

Phathom Pharmaceuticals

09/02/2023 22:17

** Shares of Phathom Pharmaceuticals Inc  PHAT.O  down 20.8%
at $9.2 after the bell
    ** Says it has received complete response letter from U.S.
FDA for its experimental drug to treat inflammation in esophagus
 urn:newsml:reuters.com:*:nGNX3x696C
    ** Letter states that PHAT needs to provide more data to
show levels of impurity found previously in drug will remain at
or below daily acceptable intake throughout proposed shelf life
of product 
    ** PHAT was down ~43% last year
 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))