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46 /100
MEDIUM RISK
Score updated Oct 13, 2026

PHAT — Phathom Pharmaceuticals, Inc. Dilution Risk Tracker

Track PHAT dilution risk with DilutionWatch's stock tracker. DilutionScore™ measures dilution risk across 5 factors — lower scores indicate higher risk of share dilution.

⚠️ Not financial advice. Do your own research before making any investment decisions.

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As of October 13, 2026, Phathom Pharmaceuticals, Inc. (PHAT) has a DilutionWatch DilutionScore of 46/100, rated MEDIUM dilution risk. Phathom Pharmaceuticals, Inc. has a market capitalization of $576.82M, 80.90M shares outstanding, 179 institutional holders tracked.

This page includes automatically generated factual summaries from DilutionWatch data. It is not financial advice, not investment research, and not a recommendation. Do your own research. Read the full disclaimer and terms of service.

Score Breakdown

📋 Offering Ability
42
💰 Cash Runway
65
📊 Float Risk
25
⚠️ Warrant Exposure
40
🔄 Convertible Debt
40

Dilution Forecast

☀️
Clear
No significant dilution signals
model est. 7%
💰 Capital Raise model 15%
• Under 12 months cash (10mo)
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Market Data

Market Cap$576.82M
Shares Outstanding80.90M
Float60.39M
Cash$182.48M
Debt$164.59M
Short InterestN/A

Source-Backed Evidence Depth

This public preview uses stored DilutionWatch fields and linked SEC/market records only. Missing values are not estimated.

FieldCurrent ValueBasis
DilutionScore46/100DilutionWatch score record
Shares Outstanding80.90MVerified float table or market cache
Public Float60.39MVerified float table or market cache
Market Cap$576.82MMarket data cache
Cash Runway10.5 monthsDilutionWatch score inputs
Shelf CapacityNone in current score inputsSEC-derived dilution fields
ATM CapacityNone in current score inputsSEC-derived dilution fields
Outstanding WarrantsNone in current score inputsSEC-derived dilution fields

Recent source-backed SEC insight records available on this page: 5.

Recent SEC source mix: 4 4, XBRL 1.

The page does not infer future share issuance, financing probability, cash needs, management intent, or price impact when source fields are absent.

Institutional Holdings

179 institutional holders · 75.42M shares
#1 Frazier Life Sciences Management, L.P. 12.47M shares
#2 Medicxi Ventures Management (Jersey) Ltd 7.46M shares
#3 VANGUARD CAPITAL MANAGEMENT LLC 5.17M shares
+ 17 more holders Sign up free to view →

Institutional holder totals are aggregated from ownership filings and may use a different share basis or reporting date than public float. They are not a reconciliation against tradeable float.

Short Interest

Short Interest10.11M
Days to Cover7.4
% of Float16.7%
FINRA data as of Sep 30, 2026

Recent SEC Activity

xbrl XBRL CONVERTIBLE 2021-03-30
4 INSIDER TRANSACTION 2026-03-11
4 INSIDER TRANSACTION 2026-03-03
4 INSIDER TRANSACTION 2026-02-12
4 INSIDER TRANSACTION 2026-02-12
Full SEC filing analysis available with free account →

Recent News

No recent news available for this ticker.

Factual PHAT Dilution Snapshot

Phathom Pharmaceuticals, Inc. (PHAT) has a DilutionScore of 46/100, rated Medium dilution risk. Score date: October 13, 2026.

This automatically generated snapshot is assembled from stored DilutionWatch data fields and may contain data-source errors or omissions. It is not financial advice, not investment research, and not a recommendation. Do your own research and review the full disclaimer and terms of service.

DilutionScore History — Last 90 Days

PHAT's DilutionScore has held steady at 46/100 (Medium risk) for 89 consecutive days across the tracked period.

Period Score Risk Level Duration
Jul 16 – Oct 13, 202646/100MEDIUM89 days

Score recalculated daily from SEC filings and market data. Sign up free for real-time score change alerts.

Share Dilution History

PHAT shares outstanding have increased 1.2% from 78.80M (Mar 2026) to 79.76M (May 2026). Each increase represents potential dilution to existing shareholders.

Date Shares Outstanding Public Float Change
May 30, 202679.76M60.39M▼ 0.07%
May 18, 202679.76M60.43M▲ 0.26%
May 05, 202679.76M60.28M▲ 1.21%
May 01, 202679.43M59.56M▲ 0.28%
Apr 11, 202679.43M59.39M▲ 0.26%
Mar 14, 202678.80M59.24M▼ 6.59%

Share counts sourced from verified regulatory filings. Increases indicate dilution events.

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