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Rhythm Pharmaceuticals RYTM

Rhythm Pharmaceuticals reported a net loss of $41.37 million for the three months ended Sep 30, 2026.

Form
10-Q
Filed
Importance
Notable
  1. Revenue was $92.13 million for the three months ended Sep 30, 2026.
  2. Diluted EPS was -$2.18 for the three months ended Sep 30, 2026.
  3. Cash and equivalents were $39.98 million as of Sep 30, 2026.

Written from the 10-Q on EDGAR. AI can make mistakes. Check the filing.

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The reading, claim by claim

  1. The company's balance sheet as of September 30, 2026, shows total assets of $443,132 thousand.
  2. This includes $39,981 thousand in cash and cash equivalents and $280,963 thousand in short-term investments.
  3. Total liabilities were $241,589 thousand as of that date.
  4. Rhythm Pharmaceuticals, Inc. had a net loss of $41,369 thousand for the quarter ended September 30, 2026.
  5. This loss included $984 thousand in accrued dividends on convertible preferred stock.
  6. The net loss per share was $0.61 for the period.
  7. The company's financial statements show a continued emphasis on research and development, with $52,480 thousand spent in the quarter.

7 of 7 claims matched the filing text.

From the filing's financial data, not stated in its text

From this 10-Q's financial data (XBRL) for the quarter ended September 30, 2026

  • Its gross margin was 86.8%, while its operating margin was -42.6%.
  • In its 10-Q for the quarter ended September 30, 2026, Rhythm Pharmaceuticals, Inc. reported a 79.6% increase in revenue compared to the same period in 2025.

From the filing

Item 1. Financial Statements

Item 1. Financial Statements

Rhythm Pharmaceuticals, Inc.

Condensed Consolidated Balance Sheets (in thousands, except share and per share data)

(Unaudited)

September 30,

2026 December 31,

2025

Assets

Current assets:

Cash and cash equivalents $ 39,9812 $ 54,301 Short-term investments 280,9632 334,648 Accounts receivable, net 39,120 26,081 Inventory 31,187 25,753

Prepaid expenses and other current assets 28,111 26,133

Total current assets 419,362 466,916 Property and equipment, net 569 1,104 Right-of-use asset 2,694 3,049 Intangible assets, net 16,678 5,319 Restricted cash 1,281 522 Other long-term assets 2,548 3,286 Total assets $ 443,1321 $ 480,196

Liabilities, Convertible Preferred Stock and Stockholders' equity

Current liabilities:

Accounts payable $ 10,687 $ 13,947

Accrued expenses and other current liabilities 124,721 83,855

Lease liability 731 650

Deferred revenue — 194

Deferred royalty obligation, current 14,751 7,296 Total current liabilities 150,890 105,942 Long-term liabilities: Deferred royalty obligation 87,915 100,886 Lease liability, non-current 2,784 3,342 Total liabilities 241,5893 210,170

Commitments and contingencies (Note 14)

Series A convertible preferred stock, $ 0.001 par value: 150,000 shares authorized; 115,000 and 132,500 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively. Liquidation preference of $ 116,725 and $ 132,500 as of September 30, 2026, and December 31, 2025, respectively.

113,577 130,957 Stockholders' equity: Preferred stock, $ 0.001 par value: 9,850,000 shares authorized; no shares issued and outstanding at September 30, 2026 and December 31, 2025

— —

Common stock, $ 0.001 par value: 120,000,000 shares authorized; 69,314,825 and 67,205,321 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 70 67 Additional paid-in capital 1,587,823 1,491,675 Accumulated other comprehensive loss ( 1,744 ) ( 796 ) Accumulated deficit ( 1,498,183 ) ( 1,351,877 ) Total stockholders' equity 87,966 139,069

Total liabilities, convertible preferred stock and stockholders' equity $ 443,132 $ 480,196

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

3

Table of Contents

Rhythm Pharmaceuticals, Inc.

Condensed Consolidated Statements of Operations and Comprehensive Loss (in thousands, except share and per share data)

(Unaudited)

Three months ended September 30, Nine months ended September 30,

2026 2025 2026 2025 Revenues: Product revenue, net $ 92,128 $ 51,298 $ 223,494 $ 137,518

License revenue — — — ( 5,014 )

Total revenues 92,128 51,298 223,494 132,504 Costs and expenses: Cost of sales 12,166 5,499 28,254 14,690 Research and development 52,4807 46,027 137,634 125,307 Selling, general, and administrative 66,752 52,425 197,793 137,460 Total costs and expenses 131,398 103,951 363,681 277,457 Loss from operations ( 39,270 ) ( 52,653 ) ( 140,187 ) ( 144,953 ) Other income (expense): Other income (expense), net ( 157 ) 274 ( 840 ) 1,207 Interest expense ( 4,495 ) ( 4,742 ) ( 13,618 ) ( 15,968 ) Interest income 3,163 4,328 9,937 11,208 Total other expense, net ( 1,489 ) ( 140 ) ( 4,521 ) ( 3,553 ) Loss before income taxes ( 40,759 ) ( 52,793 ) ( 144,708 ) ( 148,506 ) Provision for income taxes 610 111 1,598 528 Net loss $ ( 41,369 )4 $ ( 52,904 ) $ ( 146,306 ) $ ( 149,034 ) Accrued dividends on convertible preferred stock ( 984 )5 ( 1,375 ) ( 3,153 ) ( 4,046 ) Net loss attributable to common stockholders $ ( 42,353 ) $ ( 54,279 ) $ ( 149,459 ) $ ( 153,080 ) Net loss per share attributable to common stockholders, basic and diluted $ ( 0.61 )6 $ ( 0.82 ) $ ( 2.18 ) $ ( 2.38 ) Weighted-average common shares outstanding, basic and diluted 69,046,050 66,261,055 68,541,561 64,346,588 Net loss $ ( 41,369 ) $ ( 54,279 ) $ ( 146,306 ) $ ( 153,080 ) Other comprehensive income (loss): Foreign currency translation adjustment 77 834 870 ( 1,272 ) Unrealized gain (loss), net on marketable securities $ ( 909 ) $ 488 $ ( 1,818 ) 385 Comprehensive loss $ ( 42,201 ) $ ( 52,957 ) $ ( 147,254 ) $ ( 153,967 )

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

4

Table of Contents

Rhythm Pharmaceuticals, Inc.

Condensed Consolidated Statements of Convertible Preferred Stock & Stockholders' Equity (in thousands, except share data)

(Unaudited)

Series A Convertible

Preferred Stock Common Stock Additional

Paid-In

Capital Accumulated

Other

Comprehensive

Income (Loss) Accumulated

Deficit Total

Stockholders'

Equity

Shares Amount Shares Amount

Balance at December 31, 2025 132,500 $ 130,957 67,205,321 $ 67 $ 1,491,675 $ ( 796 ) $ ( 1,351,877 ) $ 139,069 Stock compensation expense — — — — 23,099 — — 23,099 Issuance of common stock in connection with ESPP — — 15,875 — 1,251 — — 1,251 Issuance of common stock in connection with exercise of stock options and vesting of restricted stock units — — 936,949 2 6,095 — — 6,097 Tax withholding on vesting of restricted stock — — ( 77,643 ) — ( 8,458 ) — — ( 8,458 ) Conversion of Series A preferred stock redeemable to common stock ( 17,500 ) ( 17,351 ) 364,582 — 17,351 — — 17,351 Accretion of preferred stock dividends — 1,104 — — ( 1,104 ) — — ( 1,104 ) Foreign currency translation adjustment — — — — — 1,784 — 1,784

Net unrealized loss on marketable securities — — — — — ( 544 ) — ( 544 )

Net loss — — — — — — ( 55,639 ) ( 55,639 ) Balance at March 31, 2026 115,000 $ 114,710 68,445,084 $ 69 $ 1,529,909 $ 444 $ ( 1,407,516 ) $ 122,906 Stock compensation expense — — — — 26,056 — — 26,056 Issuance of common stock in connection with exercise of stock options and vesting of restricted stock units — — 386,582 — 6,997 — — 6,997 Tax withholding on vesting of restricted stock — — ( 14,798 ) ( 1,257 ) ( 1,257 ) Accretion of preferred stock dividends — 1,065 — — ( 1,065 ) — — ( 1,065 )

Declaration of preferred stock dividends to be paid in cash — ( 1,457 ) — — — — — —

Foreign currency translation adjustment — — — —

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