PHAT Data Readout: a positive outcome, +7.5%

On July 1, 2022, Vonoprazan — Phathom Pharmaceuticals, Inc. (Non-Erosive Gastro-Esophageal Reflux Disease) reached its Data Readout. The result was a positive outcome, and the stock moved +7.5% in the window around the event. It had already run +14.0% in the 30 days into the catalyst — the kind of pre-event run-up that often precedes binary readouts.