Stock fact sheet · data as of
Phathom Pharmaceuticals, Inc. (PHAT): fair value, margin of safety and Wheel Score
Healthcare · Biotechnology · United States · Speculative / Distressed
Is PHAT undervalued?
At 7.40 (close of 16 Oct 2026), PHAT has no GLS fair value: every one of the nine models needs a positive input (the company lost money over the last twelve months, EPS -1.18, it pays no dividend and its debts exceed what its assets would fetch), so the margin of safety is blank and the Wheel Score cannot be computed. Our screens leave the stock out at the first rule. What can be said from the nightly row is below.
The nightly engine files PHAT under Speculative / Distressed - negative earnings or a Piotroski score of 3 or less - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for PHAT
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -5.79 | -178% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 17.33 | +134% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Phathom Pharmaceuticals, Inc. scores only 3 of 9 on the Piotroski F-score, which fails the Sunday Scan's "6 or more" rule. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. A GLS Moat score of 1.2/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are high - ROIC 97.7%, ROE 50.5%, ROA -85.4% - with debt at -0.48 times equity and negative free cash flow.
Phathom Pharmaceuticals, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain.
Institutional ownership scores 10/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 3 / 9 | ROIC | 97.7% |
|---|---|---|---|
| GLS Moat | 1.2 / 10 | ROE | 50.5% |
| Debt / equity | -0.48 | ROA | -85.4% |
| Free-cash-flow yield | -6.1% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 41: Weak
With a Wheel Score of 41 Phathom Pharmaceuticals, Inc. sits in the Weak band. The parts - Value 13/25, Health 7/20, Moat 2/15, Premium 5/20, Stability 15/20 - show where: Moat (2/15) scores lowest.
Implied volatility is 165%, far above the range the wheel strategy is built for. The premium looks generous; the Wheel Score gives it only 5 of 20 Premium points because moves of that size can blow through any strike. Chain open interest is 22,196 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.7M shares a day on a market cap of $599M, with a beta of 0.50 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 15 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 13 / 25 | 0% margin of safety | |
| Health | 7 / 20 | Piotroski 3/9 | |
| Moat | 2 / 15 | moat 1.2/10 | |
| Premium | 5 / 20 | implied volatility 165% | |
| Stability | 15 / 20 | 1.7M shares/day, $599M cap, beta 0.50 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Phathom Pharmaceuticals, Inc. reports earnings on 29 Oct 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Biotechnology
The 12 companies below are the closest to Phathom Pharmaceuticals, Inc. by market cap within the Biotechnology industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| OLMA Olema Pharmaceuticals, Inc. | 6.87 | 0.4892 | -1304% | 24Weak | $601M |
| ZVRA Zevra Therapeutics, Inc. | 10.23 | 27.02 | +62% | 70Good | $607M |
| ANNX Annexon, Inc. | 3.60 | 0.7891 | -356% | 24Weak | $590M |
| WVE Wave Life Sciences Ltd. | 3.09 | 1.35 | -128% | 30Weak | $609M |
| SLDB Solid Biosciences Inc. | 5.47 | 0.4110 | -1230% | 22Weak | $586M |
| CRMD CorMedix Inc. | 7.46 | 83.15 | +91% | 69Good | $581M |
| NVCT Nuvectis Pharma, Inc. | 18.93 | 1.18 | -1506% | 24Weak | $618M |
| CLYM Climb Bio, Inc. | 10.91 | 0.4867 | -2142% | 23Weak | $627M |
| PRME Prime Medicine, Inc. | 3.13 | - | - | 35Weak | $568M |
| ANL Adlai Nortye Ltd. | 12.09 | 0.4209 | -2773% | 23No options | $642M |
| AVTX Avalo Therapeutics, Inc. | 12.01 | 0.9861 | -1118% | 26Weak | $644M |
| DSGN Design Therapeutics, Inc. | 10.48 | 0.2574 | -3971% | 25Weak | $656M |
Screen the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the same eight-rule screen, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about PHAT
Is PHAT undervalued right now?
The GLS models could not value PHAT (the company lost money over the last twelve months, EPS -1.18, it pays no dividend and its debts exceed what its assets would fetch), so there is no fair value or margin of safety to compare the price of 7.40 against.
What is the Wheel Score of PHAT and what does it mean?
PHAT scores 41 out of 100 (Weak). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for PHAT?
None of the nine GLS models produced a positive value for PHAT (the company lost money over the last twelve months, EPS -1.18, it pays no dividend and its debts exceed what its assets would fetch), so there is no GLS fair value tonight.
When does Phathom Pharmaceuticals, Inc. report earnings next?
The next earnings report is due on 29 Oct 2026 (before the open), 13 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does PHAT have listed options, and how liquid are they?
Yes. The nightly snapshot found 116 listed contracts with 22,196 open interest across all expiries and implied volatility of 165% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.