<SEC-DOCUMENT>0001395064-22-000040.txt : 20220316
<SEC-HEADER>0001395064-22-000040.hdr.sgml : 20220316
<ACCEPTANCE-DATETIME>20220316201018
ACCESSION NUMBER:		0001395064-22-000040
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20220314
FILED AS OF DATE:		20220316
DATE AS OF CHANGE:		20220316

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TAKEDA PHARMACEUTICAL CO LTD
		CENTRAL INDEX KEY:			0001395064
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39094
		FILM NUMBER:		22746374

	BUSINESS ADDRESS:	
		STREET 1:		1-1, NIHONBASHI-HONCHO 2-CHOME, CHUO-KU
		CITY:			TOKYO
		STATE:			M0
		ZIP:			103-8668
		BUSINESS PHONE:		81332782111

	MAIL ADDRESS:	
		STREET 1:		1-1, NIHONBASHI-HONCHO 2-CHOME, CHUO-KU
		CITY:			TOKYO
		STATE:			M0
		ZIP:			103-8668

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Phathom Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001783183
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				824151574
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		100 CAMPUS DRIVE,
		STREET 2:		SUITE 102
		CITY:			FLORHAM PARK
		STATE:			NJ
		ZIP:			07932
		BUSINESS PHONE:		(877) 742-8466

	MAIL ADDRESS:	
		STREET 1:		100 CAMPUS DRIVE,
		STREET 2:		SUITE 102
		CITY:			FLORHAM PARK
		STATE:			NJ
		ZIP:			07932
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_164747580130121.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2022-03-14</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001783183</issuerCik>
        <issuerName>Phathom Pharmaceuticals, Inc.</issuerName>
        <issuerTradingSymbol>PHAT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001395064</rptOwnerCik>
            <rptOwnerName>TAKEDA PHARMACEUTICAL CO LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1-1, NIHONBASHI-HONCHO 2-CHOME</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CHUO-KU, TOKYO</rptOwnerCity>
            <rptOwnerState>M0</rptOwnerState>
            <rptOwnerZipCode>103-8668</rptOwnerZipCode>
            <rptOwnerStateDescription>JAPAN</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-03-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>X</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7359304</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7459304</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2022-03-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>18</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>19</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7459286</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Warrants</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.0</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2022-03-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>X</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7359304</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2019-10-29</value>
            </exerciseDate>
            <expirationDate>
                <value>2029-05-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7359304.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On March 14, 2022, the Reporting Person exercised a Warrant to purchase 7,359,304 shares of the Issuers common stock with an exercise price of $0.00004613 per share. The Reporting Person paid the exercise price on a cashless basis in accordance with the terms of such Warrants, resulting in the Issuer withholding a number of shares (or portion thereof) to satisfy the exercise price and issuing to the Reporting Person the remaining number of shares. The Issuer also paid the Reporting Person $2.52 in lieu of a fractional share.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Amit Singh, Senior Vice President and Head of Treasury of Takeda Pharmaceutical Company
Limited</signatureName>
        <signatureDate>2022-03-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
