RHYTHM PHARMACEUTICALS, INC. (RYTM) Form 10-Q — Aug 4, 2026

$RYTMForm 10-QFiled Aug 4, 2026, 4:05 PM ET0001628280-26-052533Original filing

Rhythm Pharmaceuticals reported Q2 2026 net product revenue of $71.3 million for IMCIVREE, up roughly 47% year over year from $48.5 million and up 19% sequentially, driven by the March 2026 FDA approval and launch in acquired hypothalamic obesity. Net loss widened modestly to $49.3 million from $46.6 million a year earlier, with SG&A jumping to $67.4 million to support the launch. U.S. revenue of $51.0 million grew 38% sequentially on acquired HO demand plus continued Bardet-Biedl syndrome growth, with more than 400 patient start forms from about 300 prescribers since approval.

Key figures

Revenue: $71.255 million (Q2 2026 net product revenue; $131.367 million for the six months ended June 30, 2026)
Net Income: -$49.298 million (Q2 2026 net loss vs. -$46.632 million in Q2 2025); -$104.937 million for H1 2026
Total Debt: $106.1 million deferred royalty obligation carrying value (RIFA with HealthCare Royalty; 17.16% effective interest rate)
Revenue Yoy: +47% (Q2 2026 vs. $48.502 million in Q2 2025)
Total Assets: $437.266 million
Cash Position: $330.9 million (cash, cash equivalents and short-term investments as of June 30, 2026)
Shares Outstanding: 68852082
Rd q2 2026: $43.428 million
Cash runway: at least 24 months from filing
Sga q2 2026: $67.448 million (vs. $45.947 million Q2 2025)
Us revenue q2 2026: $51.0 million (72% of product revenue, +38% sequential)
Accumulated deficit: $1.5 billion
Atm program capacity: $200.0 million (TD Cowen, February 26, 2026)
France rebate charge: $3.8 million retrospective rebate ($3.1 million related to prior periods)
Ex us revenue q2 2026: $20.3 million (-13% sequential)
Customer concentration: ~72% of Q2 2026 revenue from a single U.S. customer
Atm sales prior periods: $41.2 million (Dec 2024) and $32.1 million (Jan 2025) net proceeds
Preferred dividends paid july 2026: $1.5 million cash to Series A preferred holders

Price after filing

1 day: -2.8%7 days: +6.7%30 days: -0.3%

Close on the filing date to close N calendar days later (from $105.74). Historical, not a forecast.

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