Feed / RYTM

Rhythm Pharmaceuticals, Inc.

RYTM

Healthcare · 104.82 +2.5% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

Rhythm Pharmaceuticals, Inc.'s current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 37 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

What changed
  • Revenue increased 46.9% versus the comparable filing period.
  • The operating loss widened by 3.3M.
Company+2.5% todayVolume comparison unavailable
Market group0 of 37 activeBiotechnology · unavailable
Disclosed network0 of 0 confirmingRelationship data unavailable
What would change this read
  • Reported product revenue rose to $60.1M (up $22.4M, +59% YoY) driven by higher volume sold domestically and internationally.
  • Personnel costs increased $20.1M (including $7.8M stock-based comp and $12.3M salaries) to support expanded operations and establishment of international commercial operations.

Invalidation: The isolated read changes if RYTM's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Healthcare · Biotechnology

The latest filing evidence is available. 0 of 37 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

Evidence that supports
  • Revenue increased 46.9% versus the comparable filing period.
Evidence that challenges
  • The operating loss widened by 3.3M.
  • Operating cash flow remained negative at -53.3M.
  • Cash declined 70.0M versus the comparable period.
What would clarify the read
  • Reported product revenue rose to $60.1M (up $22.4M, +59% YoY) driven by higher volume sold domestically and internationally.
  • Personnel costs increased $20.1M (including $7.8M stock-based comp and $12.3M salaries) to support expanded operations and establishment of international commercial operations.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements108
Verified relationships0
Evidence supporting the case
  • Latest annual revenue changed +45.8% year over year.
  • Operating margin changed +102.8 percentage points in the latest annual period.
  • Net margin changed +96.7 percentage points in the latest annual period.
Evidence challenging the case
  • Diluted shares increased 6.5% in the latest annual period.
Questions before a position
  • EV/sales is 94% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 11, 2026

104.82
6m+15.0%12m+4.5%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$3.2M$-1.40+12.4%
2022-12-31$23.6M+649.5%$-3.47+5.1%
2023-12-31$77.4M+227.6%$-3.20+10.7%
2024-12-31$130.1M+68.1%$-4.34+5.8%
2025-12-31$189.8M+45.8%$-3.11+6.5%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 2 filings
The decrease was primarily due to the following: • a decrease of $2.3 million of non-cash interest expense in the six months ended June 30, 2026, associated with the accretion of the LG Chem liability, which was paid in July 2025.
10-Q · Aug 4, 2026
Foreign exchangemixed · 1 filings
The above decreases were partially offset by: ● an increase in other income of $1.3 million driven by a gain on unrealized foreign exchange as well as a gain on the fair value of the embedded derivative.
10-Q · Aug 5, 2025

Valuation discipline

Descriptive valuation snapshot

Price/sales 35.9× · EV/sales 36.1×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

104.82+2.5% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for RYTM. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment

The latest filing has limited comparable evidence

10-Q filed 2026-08-04 against the comparable filing from 2025-08-05.

limited evidence
OperationsmixedEvidence score +1
liquiditycautiousEvidence score -2
valuationwithheld

Capital and cash conversion

Inventory built faster than revenue

watch

Inventory growth exceeded revenue growth and inventory intensity increased.

Stock compensation / revenue
+69.0%
Inventory intensity change
+3.9 pts

Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.

What improved

  • Revenue increased 46.9% versus the comparable filing period.

What weakened

  • The operating loss widened by 3.3M.
  • Operating cash flow remained negative at -53.3M.
  • Cash declined 70.0M versus the comparable period.

Filing receipts

The net increase was primarily due to the following: • an increase of $10.4 million related to personnel costs, including $5.7 million related to salaries, benefits and other compensation costs related to the hiring of additional full-time employees in order to support the growth of our research and development programs, and $4.7 million of stock-based compensation, • an increase of $1.2 million in data analytics primarily related to the Company's sponsored genetic testing program, • an increase of $1.0 million in non-clinical expenses due to an increase in CHI-related costs, and • an increase of $0.9 million in patents, licenses and other regulatory expenses.

Product candidates in later stages of clinical development generally have higher development costs than those in earlier stages of clinical development, primarily due to the increased size and duration of later-stage clinical trials.

The decrease was primarily due to the following: • a decrease of $1.2 million of non-cash interest expense in the three months ended June 30, 2026, associated with the accretion of the LG Chem liability, which was fully settled in July 2025.

Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.

Business ecosystem

The relationships behind RYTM

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

RYTM is currently a Follower in the organic co-movement group Biotechnology. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.

This group is retained as the last observed read for RYTM; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.