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Side-by-side financial comparison of GERON CORP (GERN) and Phathom Pharmaceuticals, Inc. (PHAT). Click either name above to swap in a different company.
Phathom Pharmaceuticals, Inc. is the larger business by last-quarter revenue ($57.6M vs $47.2M, roughly 1.2× GERON CORP). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs 67.1%).
Geron Corporation is a biotechnology company located in Foster City, California which specializes in developing and commercializing therapeutic products for cancer that inhibit telomerase.
Phathom Pharmaceuticals is a clinical-stage biopharmaceutical firm focused on developing and commercializing innovative therapies for gastrointestinal diseases. Its lead product candidates address acid-related disorders, inflammatory bowel disease, and other GI conditions, serving patients mainly across North America and Europe.
GERN vs PHAT — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.2M | $57.6M |
| Net Profit | $-18.4M | — |
| Gross Margin | — | 86.7% |
| Operating Margin | -29.4% | — |
| Net Margin | -39.0% | — |
| Revenue YoY | 67.1% | 94.1% |
| Net Profit YoY | 30.3% | 71.6% |
| EPS (diluted) | $-0.03 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $57.6M | ||
| Q3 25 | $47.2M | $49.5M | ||
| Q2 25 | $49.0M | $39.5M | ||
| Q1 25 | $39.6M | $28.5M | ||
| Q4 24 | — | $29.7M | ||
| Q3 24 | $28.3M | $16.4M | ||
| Q2 24 | $882.0K | $7.3M | ||
| Q1 24 | $304.0K | — |
| Q4 25 | — | — | ||
| Q3 25 | $-18.4M | $-30.0M | ||
| Q2 25 | $-16.4M | $-75.8M | ||
| Q1 25 | $-19.8M | $-94.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-26.4M | $-85.6M | ||
| Q2 24 | $-67.4M | $-91.4M | ||
| Q1 24 | $-55.4M | — |
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 87.5% | ||
| Q2 25 | — | 87.2% | ||
| Q1 25 | — | 86.9% | ||
| Q4 24 | — | 87.1% | ||
| Q3 24 | — | 85.6% | ||
| Q2 24 | — | 81.2% | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -29.4% | -30.8% | ||
| Q2 25 | -25.4% | -151.7% | ||
| Q1 25 | -42.2% | -276.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | -99.8% | -433.0% | ||
| Q2 24 | -7860.9% | -1055.4% | ||
| Q1 24 | -18465.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | -39.0% | -60.5% | ||
| Q2 25 | -33.4% | -191.9% | ||
| Q1 25 | -50.1% | -330.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | -93.5% | -523.3% | ||
| Q2 24 | -7639.8% | -1248.6% | ||
| Q1 24 | -18220.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | $-0.03 | $-0.41 | ||
| Q2 25 | $-0.02 | $-1.05 | ||
| Q1 25 | $-0.03 | $-1.31 | ||
| Q4 24 | — | — | ||
| Q3 24 | $-0.04 | $-1.32 | ||
| Q2 24 | $-0.10 | $-1.56 | ||
| Q1 24 | $-0.09 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $78.1M | $130.0M |
| Total DebtLower is stronger | — | $209.1M |
| Stockholders' EquityBook value | $248.7M | $-438.2M |
| Total Assets | $567.4M | $259.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $130.0M | ||
| Q3 25 | $78.1M | $135.2M | ||
| Q2 25 | $77.7M | $149.6M | ||
| Q1 25 | $83.7M | $212.3M | ||
| Q4 24 | — | $297.3M | ||
| Q3 24 | $60.3M | $334.7M | ||
| Q2 24 | $116.9M | $276.2M | ||
| Q1 24 | $189.8M | — |
| Q4 25 | — | $209.1M | ||
| Q3 25 | — | $207.1M | ||
| Q2 25 | — | $205.1M | ||
| Q1 25 | — | $203.2M | ||
| Q4 24 | — | $201.4M | ||
| Q3 24 | — | $175.7M | ||
| Q2 24 | — | $174.4M | ||
| Q1 24 | — | — |
| Q4 25 | — | $-438.2M | ||
| Q3 25 | $248.7M | $-422.5M | ||
| Q2 25 | $259.5M | $-405.8M | ||
| Q1 25 | $268.2M | $-338.4M | ||
| Q4 24 | — | $-253.6M | ||
| Q3 24 | $292.3M | $-187.1M | ||
| Q2 24 | $306.7M | $-233.8M | ||
| Q1 24 | $344.9M | — |
| Q4 25 | — | $259.1M | ||
| Q3 25 | $567.4M | $240.3M | ||
| Q2 25 | $555.2M | $250.2M | ||
| Q1 25 | $562.5M | $294.2M | ||
| Q4 24 | — | $378.3M | ||
| Q3 24 | $444.9M | $387.0M | ||
| Q2 24 | $449.4M | $319.4M | ||
| Q1 24 | $482.1M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-13.6M | $-166.8M |
| Free Cash FlowOCF − Capex | — | $-167.0M |
| FCF MarginFCF / Revenue | — | -290.0% |
| Capex IntensityCapex / Revenue | — | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-328.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-166.8M | ||
| Q3 25 | $-13.6M | $-14.1M | ||
| Q2 25 | $-27.4M | $-62.7M | ||
| Q1 25 | $-48.0M | $-84.9M | ||
| Q4 24 | — | $-266.8M | ||
| Q3 24 | $-58.9M | $-63.6M | ||
| Q2 24 | $-53.5M | $-70.7M | ||
| Q1 24 | $-62.3M | — |
| Q4 25 | — | $-167.0M | ||
| Q3 25 | — | $-14.1M | ||
| Q2 25 | — | $-62.8M | ||
| Q1 25 | — | $-84.9M | ||
| Q4 24 | — | $-266.9M | ||
| Q3 24 | — | $-63.6M | ||
| Q2 24 | $-53.7M | $-70.8M | ||
| Q1 24 | $-62.9M | — |
| Q4 25 | — | -290.0% | ||
| Q3 25 | — | -28.6% | ||
| Q2 25 | — | -159.0% | ||
| Q1 25 | — | -297.9% | ||
| Q4 24 | — | -899.8% | ||
| Q3 24 | — | -389.0% | ||
| Q2 24 | -6086.6% | -966.2% | ||
| Q1 24 | -20680.3% | — |
| Q4 25 | — | 0.4% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 23.4% | 0.6% | ||
| Q1 24 | 202.3% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
