Phathom Pharmaceuticals reported a net loss of $20.1 million for the first quarter of 2020, which included non-cash charges related to stock-based compensation of $0.6 million and a change in fair value of warrant liabilities of ($0.1) million. The company's research and development expenses increased to $15.9 million, and general and administrative expenses increased to $4.5 million. As of March 31, 2020, cash and cash equivalents were $256.7 million.