The document summarizes the hexose monophosphate pathway (HMP pathway), also known as the pentose phosphate pathway. It has two phases - an oxidative phase that generates NADPH, and a non-oxidative phase that converts pentoses to hexoses. The pathway takes place in the cytosol and is important in the liver, red blood cells, and other tissues for generating NADPH for biosynthesis of fatty acids and steroids. It involves the oxidation of glucose-6-phosphate through a series of steps to ultimately regenerate glucose-6-phosphate while producing NADPH and pentose sugars.