Phathom Pharmaceuticals down 25% after FDA notice of no action on vonoprazan NDA

Shares of Phathom Pharmaceuticals are down 25% or $2.99 afterhours at $9.00 after the company disclosed FDA notice that no action will be taken on the company’s NDA for vonoprazan on or prior to the current PDUFA target action date of January 11, 2023.