Phathom Pharmaceuticals, Inc. (PHAT) - Dilution Analysis

Visualizing historical and potential share dilution over time

View Stock Details

Chase Ink Business Preferred®

Earn Up to 150K Bonus Points

Transfer points to 14+ airline & hotel partners. Up to 40% upgrade value on first class travel. $95/yr.

Apply Now

Dilution Analysis

High Risk

Significant dilution risk

Last updated: April 30, 2026

Risk Assessment Details

Potential Dilution: 40.25% of current shares

Recent Dilution: 38.05% (2 years)

Historical Dilution Factor: significant recent dilution

Outstanding Shares

82M

Potential Supply

33M

Additional shares possible

Splits

None

Past 2 years

Summary

PHAT currently has 82.1M outstanding shares. with moderate dilution risk from 33M authorized shares representing 40.2% potential dilution. The company has significantly diluted shareholders by 38.05% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding	Supply
Apr 30, 2026	10-Q filing \| 82.1M shares outstanding	82M	33M
Oct 30, 2025	10-Q filing \| 73.4M shares outstanding	73M	42M
Aug 07, 2025	10-Q filing \| 72.5M shares outstanding	72M	43M
May 01, 2025	10-Q filing \| 72.0M shares outstanding	72M	43M
Mar 06, 2025	10-K filing \| 63.2M shares outstanding	63M	52M
Nov 07, 2024	10-Q filing \| 64.6M shares outstanding	65M	50M
Aug 08, 2024	10-Q filing \| 58.6M shares outstanding	59M	57M
May 09, 2024	10-Q filing \| 58.4M shares outstanding	58M	57M
Mar 07, 2024	10-K filing \| 58.5M shares outstanding	58M	57M
Nov 09, 2023	S-3 filing: The company may offer and sell up to $500 million in the aggregate of common stock, preferred stock and debt securities from time to time in one or more offerings, and intends to use the net proceeds of this offering to fund commercialization expenses and further clinical development of vonoprazan and for working capital and general corporate purposes.	57M	58M
Nov 09, 2023	10-Q filing \| 56.8M shares outstanding	57M	58M
Aug 10, 2023	10-Q filing \| 56.8M shares outstanding	57M	0
May 10, 2023	10-Q filing \| 42.4M shares outstanding	42M	0
Feb 28, 2023	10-K filing \| 39.1M shares outstanding	39M	0
Nov 08, 2022	10-Q filing \| 38.8M shares outstanding	39M	0
Aug 02, 2022	10-Q filing \| 38.3M shares outstanding	38M	0
May 10, 2022	10-Q filing \| 39.1M shares outstanding	39M	0
Mar 01, 2022	10-K filing \| 31.7M shares outstanding	32M	240K
Nov 08, 2021	10-Q filing \| 31.4M shares outstanding	31M	540K
Aug 10, 2021	10-Q filing \| 31.4M shares outstanding	31M	600K
May 11, 2021	10-Q filing \| 31.3M shares outstanding	31M	630K
Mar 30, 2021	10-K filing \| 31.3M shares outstanding	31M	630K
Nov 10, 2020	10-Q filing \| 29.0M shares outstanding	29M	3M
Nov 10, 2020	S-3 filing: The company may offer and sell up to $500 million in common stock, preferred stock, and debt securities from time to time.	29M	3M
Aug 06, 2020	10-Q filing \| 29.0M shares outstanding	29M	0
May 12, 2020	10-Q filing \| 29.0M shares outstanding	29M	0
Mar 19, 2020	10-K filing \| 29.0M shares outstanding	29M	0

Back to PHAT Details