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RYTM Rhythm Pharmaceuticals

Rhythm is a commercial-stage biopharmaceutical company committed to transforming the treatment paradigm for patients living with rare genetic diseases of obesity. Early-onset severe obesity may result from genetic variants within the melanocortin-4 receptor (MC4R) pathway, a key hypothalamic pathway that regulates hunger, caloric intake, and energy expenditure, consequently affecting body weight. Rhythm is developing setmelanotide for the treatment of rare genetic diseases of obesity that arise due to an impaired pathway, as setmelanotide has shown the potential to restore impaired pathway function.

Company profile

Ticker
RYTM
Exchange
CEO
Keith Gottesdiener
Employees
Incorporated
Location
Fiscal year end
Former names
RHYTHM METABOLIC, INC.
SEC CIK
Subsidiaries
Rhythm Pharmaceuticals Limited • Rhythm Securities Corp. ...

RYTM stock data

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Press releases

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Rhythm Pharmaceuticals Completes Submission of Type II Variation Application to the European Medicines Agency for IMCIVREE® (setmelanotide) for Bardet-Biedl and Alström Syndromes
14 Oct 21
BOSTON, Oct. 14, 2021 (GLOBE NEWSWIRE) -- Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM), a commercial-stage biopharmaceutical company committed to transforming the care of people living with rare genetic diseases of
Rhythm Pharmaceuticals Presents New Data on Experience of People Living with Rare Genetic Diseases of Obesity and Provides Updates on Uncovering Rare Obesity® Genetic Testing Program
14 Oct 21
-- New data in patients with POMC or LEPR deficiency obesity show setmelanotide led to clinically meaningful improvements in health related quality of life measures and hunger -- -- Updated results from Uncovering Rare
Rhythm Pharmaceuticals Presents New Data from Phase 2 and 3 Trials Evaluating Setmelanotide in Multiple Rare Genetic Diseases of Obesity at the 59th Annual ESPE Meeting
22 Sep 21
-- New subgroup analysis of Phase 3 data show setmelanotide achieved statistically significant weight loss and hunger reduction compared with placebo at 14 weeks in patients with Bardet-Biedl syndrome ---- Efficacy
Rhythm Pharmaceuticals Announces Marketing Authorisation of IMCIVREE® (setmelanotide) in Great Britain
21 Sep 21
Rhythm Pharmaceuticals Completes Submission of Supplemental New Drug Application to U.S. Food and Drug Administration for IMCIVREE® (setmelanotide) for the treatment of obesity and control of hunger in Bardet-Biedl and Alström Syndromes
20 Sep 21

Investment data

Data from SEC filings
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Number of investors

Calendar

3 Aug 21
20 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
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Dec 20 Dec 19 Dec 18 Dec 17
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Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 69.67M 69.67M 69.67M 69.67M 69.67M 69.67M
Cash burn (monthly) 5.98M (positive/no burn) 13.48M 12.02M 10.61M 10.13M
Cash used (since last report) 21.98M n/a 49.55M 44.17M 39.02M 37.23M
Cash remaining 47.69M n/a 20.12M 25.49M 30.65M 32.44M
Runway (months of cash) 8.0 n/a 1.5 2.1 2.9 3.2

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Sep 21 Linda Shapiro Manning RSU Common Stock Grant Acquire A No No 0 2,500 0 2,500
10 Sep 21 Linda Shapiro Manning Stock Option Common Stock Grant Acquire A No No 12.98 15,000 194.7K 15,000
26 Jul 21 Pamela J. Cramer RSU Common Stock Grant Acquire A No No 0 12,500 0 12,500
26 Jul 21 Pamela J. Cramer Stock Option Common Stock Grant Acquire A No No 19.02 75,000 1.43M 75,000
9 Jun 21 Mcgirr David W J Stock Option Common Stock Grant Acquire A No No 18.99 15,000 284.85K 15,000

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 105 124 -15.3%
Opened positions 8 23 -65.2%
Closed positions 27 20 +35.0%
Increased positions 41 59 -30.5%
Reduced positions 32 24 +33.3%
13F shares
Current Prev Q Change
Total value 1.16B 1.67B -30.7%
Total shares 51.99M 52.07M -0.1%
Total puts 33.2K 58.6K -43.3%
Total calls 0 27.2K EXIT
Total put/call ratio Infinity 2.2 +Infinity%
Largest owners
Shares Value Change
Primecap Management 6.15M $120.49M +2.5%
NEA Management 4.91M $96.18M 0.0%
Ra Capital Management 4.87M $95.51M 0.0%
JHG Janus Henderson 3.93M $76.87M -4.0%
Baker Bros. Advisors 3.86M $75.64M +11.0%
BLK Blackrock 3.34M $65.31M +6.1%
FHI Federated Hermes 3.02M $59.04M -3.1%
Flynn James E 2.72M $80.9M 0.0%
Vanguard 2.26M $44.2M +0.2%
STT State Street 2.18M $42.67M -10.7%
Largest transactions
Shares Bought/sold Change
Caas Capital Management 84.04K -533.55K -86.4%
GS Goldman Sachs 1.07M +409.06K +62.1%
Baker Bros. Advisors 3.86M +383.37K +11.0%
MS Morgan Stanley 446.61K +345.76K +342.8%
Wellington Management 1.3M +280.78K +27.7%
STT State Street 2.18M -262.29K -10.7%
Two Sigma Investments 57.08K -237.58K -80.6%
BLK Blackrock 3.34M +190.3K +6.1%
Marshall Wace 0 -178.76K EXIT
Marshall Wace North America 0 -169.16K EXIT

Financial report summary

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Management Discussion
  • Product revenue, net increased to $0.3 million in 2021.  There were no product revenues in the comparative prior period. The increase is due to FDA approval of our lead product candidate, IMCIVREE in November 2020.  We recorded our first sales of IMCIVREE in March 2021 and the three months ended June 30, 2021 represent our first full quarter of sales subsequent to the launch of IMCIVREE.  We expect our initial sales of IMCIVREE will be limited by the ultra-rare nature of the disease and limited number of diagnosed patients in the United States.
  • Cost of sales increased to $0.1 million in 2021.  There were no cost of sales in the comparative prior period. All of our inventory of IMCIVREE produced prior to FDA approval is available for commercial or clinical use.  Most of the manufacturing costs have been recorded as research and development expenses in prior periods.  Accordingly, the costs for IMCIVREE included in our cost of sales for the three months ended June 30, 2021 were insignificant and reflect the amortization of our capitalized sales based milestone payment made to Ipsen upon our first commercial sale as well as a royalty due to Ipsen on our net product sales.  We expect cost of sales to increase as we begin to sell inventory that is produced after we begin capitalizing IMCIVREE commercial inventory.
  • Research and development expense. Research and development expense increased by $2.1 million to $25.1 million in 2021 from $23.0 million in 2020, an increase of 9%. The increase was primarily due to the following:
Content analysis
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Legalese
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Readability
H.S. junior Avg
New words: addtional, Alstrom, authorisation, automatically, Britain, California, constitutionality, coupled, CPRA, DAYBREAK, dismissed, driven, EC, EMANATE, Excellence, exeutive, Great, headcount, HST, instructed, intact, internationally, Israel, licesnse, master, Medison, migrated, NICE, nominal, raw, reapply, recipient, reconsider, setmelotide, sNDA, Specialised, supplementary, Thre
Removed: alter, Baine, BBA, black, box, Circuit, define, essential, fashion, feature, inseverable, Judge, mandate, Obama, perspective, propose, remanded, remediate, remedy, repeal, repealed, repealing, supportive, unconstitutional, upheld

Patents

GRANT
Utility
Pharmaceutical compositions
28 Sep 21
The present invention relates to an ionic complex comprising a cationic polypeptide and an anionic excipient selected from: a PEG-carboxylic acid; a fatty acid having 10 or more carbon atoms; an anionic phospholipid; and a combination thereof.
APP
Utility
Sustained Release Peptide Formulations
10 Jun 21
This disclosure provides, at least in part, a pharmaceutical product comprising: setmelanotide (also known as RM493); setmelanotide as sole active pharmaceutical ingredient formulated for injection; setmelanotide as the sole active ingredient; setmelanotide as the active pharmaceutical ingredient; setmelanotide as the active pharmaceutical ingredient for injection; or another pharmaceutical composition that has its primary mechanism of action at the MC4 receptor as an agonist (referred to herein as an MC4RAp), e.g., a lipid excipient, and/or a pharmaceutically acceptable carrier.
APP
Utility
Compositions for Treating Kidney Disease
10 Jun 21
The disclosure is related to a method of treating chronic kidney disease in a subject with a melanocortin-4 receptor (MC4R) agonist, e.g., a compound of any one of Formulas (I), (II), (III), (IV), (V), (VI), (VII), (VIII), (X), or (XI), or a pharmaceutically acceptable salt thereof (e.g., as described herein).
APP
Utility
Method of Treating MELANOCORTIN-4 Receptor Pathway-associated Disorders
10 Jun 21
The disclosure is related to a method of treating a disorder, such as Prader Willi Syndrome (PWS), obesity or hyperphagia, in a subject using a melanocortin-4 receptor (MC4R) agonist.
GRANT
Utility
Method of treating melanocortin-4 receptor pathway-associated disorders
30 Mar 21
The disclosure is related to a method of treating a disorder, such as Prader Willi Syndrome (PWS), obesity or hyperphagia, in a subject using a melanocortin-4 receptor (MC4R) agonist.