$RYTM
RHYTHM PHARMACEUTICALS, INC.

2020 Q3 Form 10-Q Financial Statement

#000155837020008958 Filed on August 03, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $11.29M $8.921M $8.841M
YoY Change 7.16% 0.9% 37.28%
% of Gross Profit
Research & Development $23.00M $23.00M $35.31M
YoY Change -13.46% -34.87% 311.52%
% of Gross Profit
Depreciation & Amortization $170.0K $170.0K $200.0K
YoY Change -10.53% -15.0% 233.33%
% of Gross Profit
Operating Expenses $34.28M $31.92M $44.15M
YoY Change -7.61% -27.7% 193.93%
Operating Profit -$34.28M -$31.92M -$44.15M
YoY Change -7.61% -27.7%
Interest Expense $470.0K $800.0K $1.350M
YoY Change -57.27% -40.74% 121.31%
% of Operating Profit
Other Income/Expense, Net $466.0K $801.0K $1.353M
YoY Change -57.79% -40.8%
Pretax Income -$33.82M -$31.12M -$42.80M
YoY Change -6.06% -27.3% 197.02%
Income Tax
% Of Pretax Income
Net Earnings -$33.82M -$31.12M -$42.80M
YoY Change -6.07% -27.29% 196.99%
Net Earnings / Revenue
Basic Earnings Per Share -$0.71
Diluted Earnings Per Share -$766.2K -$0.71 -$1.242M
COMMON SHARES
Basic Shares Outstanding 44.12M 44.10M
Diluted Shares Outstanding 44.10M

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $201.8M $228.6M $195.2M
YoY Change 24.26% 17.11% -32.13%
Cash & Equivalents $67.67M $59.09M $63.52M
Short-Term Investments $134.1M $169.5M $132.0M
Other Short-Term Assets $8.100M $9.200M $8.300M
YoY Change -3.57% 10.84% 159.38%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $209.9M $237.8M $203.5M
YoY Change 22.83% 16.86% -30.02%
LONG-TERM ASSETS
Property, Plant & Equipment $3.289M $3.331M $7.000M
YoY Change -45.18% -52.41% 900.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $400.0K $400.0K $400.0K
YoY Change -42.86% 0.0% 33.33%
Total Long-Term Assets $5.563M $5.666M $7.400M
YoY Change -15.71% -23.43% 722.22%
TOTAL ASSETS
Total Short-Term Assets $209.9M $237.8M $203.5M
Total Long-Term Assets $5.563M $5.666M $7.400M
Total Assets $215.5M $243.5M $210.9M
YoY Change 21.4% 15.45% -27.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.793M $4.761M $6.600M
YoY Change -50.74% -27.86% 100.0%
Accrued Expenses $11.54M $9.640M $19.50M
YoY Change -34.08% -50.56% 413.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.85M $14.90M $26.10M
YoY Change -37.11% -42.9% 262.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.700M $2.800M $3.300M
YoY Change -15.63% -15.15% 1550.0%
Total Long-Term Liabilities $2.700M $2.800M $3.300M
YoY Change -15.63% -15.15% 1550.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.85M $14.90M $26.10M
Total Long-Term Liabilities $2.700M $2.800M $3.300M
Total Liabilities $18.54M $17.73M $29.40M
YoY Change -34.72% -39.69% 297.3%
SHAREHOLDERS EQUITY
Retained Earnings -$424.4M -$390.6M
YoY Change
Common Stock $44.00K $44.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $196.9M $225.8M $181.5M
YoY Change
Total Liabilities & Shareholders Equity $215.5M $243.5M $210.9M
YoY Change 21.4% 15.45% -27.7%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$33.82M -$31.12M -$42.80M
YoY Change -6.07% -27.29% 196.99%
Depreciation, Depletion And Amortization $170.0K $170.0K $200.0K
YoY Change -10.53% -15.0% 233.33%
Cash From Operating Activities -$27.03M -$29.73M -$25.54M
YoY Change -19.58% 16.41% 104.65%
INVESTING ACTIVITIES
Capital Expenditures -$130.0K $0.00 -$2.320M
YoY Change -50.0% -100.0% 23100.0%
Acquisitions
YoY Change
Other Investing Activities $35.04M $32.86M $48.46M
YoY Change -16.03% -32.19% 194.77%
Cash From Investing Activities $34.91M $32.86M $46.15M
YoY Change -15.82% -28.8% 180.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 700.0K 180.0K 490.0K
YoY Change 0.0% -63.27% -99.7%
NET CHANGE
Cash From Operating Activities -27.03M -29.73M -25.54M
Cash From Investing Activities 34.91M 32.86M 46.15M
Cash From Financing Activities 700.0K 180.0K 490.0K
Net Change In Cash 8.580M 3.310M 21.10M
YoY Change 0.23% -84.31% -87.39%
FREE CASH FLOW
Cash From Operating Activities -$27.03M -$29.73M -$25.54M
Capital Expenditures -$130.0K $0.00 -$2.320M
Free Cash Flow -$26.90M -$29.73M -$23.22M
YoY Change -19.34% 28.04% 86.21%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
CY2019Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
44115612
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
43996753
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001649904
dei Amendment Flag
AmendmentFlag
false
CY2020Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2020-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-38223
dei Entity Registrant Name
EntityRegistrantName
RHYTHM PHARMACEUTICALS, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-2159271
dei Entity Address Address Line1
EntityAddressAddressLine1
222 Berkeley Street
dei Entity Address Address Line2
EntityAddressAddressLine2
12th Floor
dei Entity Address City Or Town
EntityAddressCityOrTown
Boston
dei Entity Address State Or Province
EntityAddressStateOrProvince
MA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
02116
dei City Area Code
CityAreaCode
857
dei Local Phone Number
LocalPhoneNumber
264-4280
dei Security12b Title
Security12bTitle
Common Stock
dei Trading Symbol
TradingSymbol
RYTM
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
true
dei Entity Shell Company
EntityShellCompany
false
CY2020Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
44118594
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59091000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
62294000
CY2020Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
169535000
CY2019Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
230165000
CY2020Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9193000
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9945000
CY2020Q2 us-gaap Assets Current
AssetsCurrent
237819000
CY2019Q4 us-gaap Assets Current
AssetsCurrent
302404000
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3331000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3671000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1932000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2045000
CY2020Q2 us-gaap Restricted Cash
RestrictedCash
403000
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
403000
CY2020Q2 us-gaap Assets
Assets
243485000
CY2019Q4 us-gaap Assets
Assets
308523000
CY2020Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
4761000
CY2019Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
10415000
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9640000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
472000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13530000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
503000
CY2020Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
801000
CY2020Q2 us-gaap Liabilities Current
LiabilitiesCurrent
14904000
CY2019Q4 us-gaap Liabilities Current
LiabilitiesCurrent
24417000
CY2020Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2828000
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
3086000
CY2020Q2 us-gaap Liabilities
Liabilities
17732000
CY2019Q4 us-gaap Liabilities
Liabilities
27503000
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
120000000
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
120000000
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
44115612
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
43996753
CY2020Q2 us-gaap Common Stock Value
CommonStockValue
44000
CY2019Q4 us-gaap Common Stock Value
CommonStockValue
44000
CY2020Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
615691000
CY2019Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
606307000
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
630000
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-390612000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-325331000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
225753000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
281020000
CY2020Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
243485000
CY2019Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
308523000
CY2020Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
22997000
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
35308000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
45501000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
58069000
CY2020Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8921000
CY2019Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
8841000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
21717000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16600000
CY2020Q2 us-gaap Operating Expenses
OperatingExpenses
31918000
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
44149000
us-gaap Operating Expenses
OperatingExpenses
67218000
us-gaap Operating Expenses
OperatingExpenses
74669000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-31918000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-44149000
us-gaap Operating Income Loss
OperatingIncomeLoss
-67218000
us-gaap Operating Income Loss
OperatingIncomeLoss
-74669000
CY2020Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
801000
CY2019Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
1353000
us-gaap Investment Income Interest
InvestmentIncomeInterest
1937000
us-gaap Investment Income Interest
InvestmentIncomeInterest
2899000
CY2019Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1353000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1937000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2899000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-31117000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-42796000
us-gaap Net Income Loss
NetIncomeLoss
-65281000
us-gaap Net Income Loss
NetIncomeLoss
-71770000
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.71
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.24
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.48
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.08
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
44098860
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34452661
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
44074352
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34435023
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-31117000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-42796000
us-gaap Net Income Loss
NetIncomeLoss
-65281000
us-gaap Net Income Loss
NetIncomeLoss
-71770000
CY2020Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
567000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
630000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-30550000
CY2019Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-42796000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-64651000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-71770000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
281020000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5475000
CY2020Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
324000
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
383000
CY2020Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
63000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-34164000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
253101000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3028000
CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
174000
CY2020Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
567000
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-31117000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
225753000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
246256000
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2644000
CY2019Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
295000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
54000
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
214000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-28974000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
220489000
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3272000
CY2019Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
465000
CY2019Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
37000
CY2019Q2 us-gaap Profit Loss
ProfitLoss
-42796000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
181467000
us-gaap Profit Loss
ProfitLoss
-65281000
us-gaap Profit Loss
ProfitLoss
-71770000
us-gaap Share Based Compensation
ShareBasedCompensation
8503000
us-gaap Share Based Compensation
ShareBasedCompensation
5916000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
340000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
452000
rytm Non Cash Rent Expense
NonCashRentExpense
-114000
rytm Non Cash Rent Expense
NonCashRentExpense
253000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
352000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4048000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-8923000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
12273000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-65827000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-56924000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
43413000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
69875000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
105147000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
142687000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3126000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
61734000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
69686000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
566000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
519000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
324000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
295000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
890000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
814000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3203000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
13576000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62697000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
49943000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59494000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
63519000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Rhythm Pharmaceuticals, Inc.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Notes to Unaudited Condensed Consolidated Financial Statements</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;white-space:pre-wrap;"> (In thousands, except share and per share information)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">1. Nature of Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Rhythm Pharmaceuticals, Inc., or the Company, is a late-stage biopharmaceutical company focused on the development and commercialization of therapeutics for the treatment of rare genetic disorders which are characterized by early-onset, severe obesity and an insatiable hunger or hyperphagia. The Company’s lead product candidate is setmelanotide, a potent melanocortin-4 receptor, or MC4R, agonist for the treatment of rare genetic disorders of obesity. The Company believes setmelanotide, for which it has exclusive worldwide rights, has the potential to restore dysfunctional MC4R signaling due to impaired MC4R pathway function.  MC4R pathway deficiencies result in the disruption of satiety signals and energy homeostasis in the body, which, in turn, leads to intense feelings of hunger and to obesity.   </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company’s development efforts are initially focused on obesity related to several single gene-related, or monogenic, MC4R pathway deficiencies: pro-opiomelanocortin, or POMC, deficiency obesity; leptin receptor, or LEPR, deficiency obesity; Bardet-Biedl syndrome, or BBS; Alström syndrome; POMC or LEPR heterozygous deficiency obesity; steroid receptor coactivator 1, or SRC1, deficiency obesity; SH2B adapter protein 1, or SH2B1, deficiency obesity; MC4R deficiency obesity and Smith-Magenis syndrome, as well as additional disorders as part of investigator-initiated protocols. Currently, there are no effective or approved treatments for these MC4R pathway-related disorders. The Company believes that the MC4R pathway is a compelling target for treating these genetic disorders because of its critical role in regulating appetite and weight by promoting satiety and weight control, and that peptide therapeutics are uniquely suited for activating this target. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;"> </span>The Company has also acquired exclusive, worldwide rights from Takeda Pharmaceutical Company Limited, or Takeda, to develop and commercialize T-3525770, now RM-853. RM-853 is a potent, orally available ghrelin o-acyltransferase inhibitor currently in preclinical development.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="background-color:#ffffff;">The Company is subject to risks and uncertainties common to late-stage companies in the biotechnology industry, including but not limited to, risks associated with completing preclinical studies and clinical trials, receiving regulatory approvals for product candidates, development by competitors of new biopharmaceutical products, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Product candidates currently under development will require significant additional research and development efforts, including preclinical and clinical testing and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure and extensive compliance-reporting capabilities. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will realize revenue from product sales.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Corporate Reorganization</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company is a Delaware corporation organized in February 2013 under the name Rhythm Metabolic, Inc., and as of October 2015, under the name Rhythm Pharmaceuticals, Inc. Prior to its organization and a corporate reorganization, the Company was part of Rhythm Pharmaceuticals, Inc., a Delaware corporation which was organized in November 2008 and which commenced active operations in 2010. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Liquidity</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The Company has incurred operating losses and negative cash flows from operations since inception.  As of June 30, 2020, the Company had an accumulated deficit of $390,612.  The Company has primarily funded these losses through the proceeds from the sales of common and preferred stock as well as capital contributions received from the former parent company, Rhythm Holdings LLC. To date, the Company has no product revenue and management expects </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">operating losses to continue for the foreseeable future. The Company has devoted substantially all of its resources to its drug development efforts, comprising of research and development, manufacturing, conducting clinical trials for its product candidates, protecting its intellectual property, pre-commercialization activities and general and administrative functions relating to these operations. The future success of the Company is dependent on its ability to develop its product candidates and ultimately upon its ability to attain profitable operations. At June 30, 2020, the Company had $228,626 of cash and cash equivalents and short-term investments on hand.  In the future, the Company will be dependent on obtaining funding from third parties, such as proceeds from the issuance of debt, sale of equity, and funded research and development programs, to maintain the Company's operations and meet the Company's obligations. There is no guarantee that additional equity or other financings will be available to the Company on acceptable terms, or at all. If the Company fails to obtain additional funding when needed, the Company would be forced to scale back, terminate its operations or seek to merge with or be acquired by another company. Management believes that the Company's existing cash resources will be sufficient to fund the Company's operations through at least the end of 2021.</p>
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-390612000
CY2020Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
228626000
CY2020Q1 rytm Unrealized Holding Gain Loss Available For Sale Securities Reclassified From Additional Paid In Capital To Accumulated Other Comprehensive Income Loss
UnrealizedHoldingGainLossAvailableForSaleSecuritiesReclassifiedFromAdditionalPaidInCapitalToAccumulatedOtherComprehensiveIncomeLoss
63000000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements if these results differ from historical experience, or other </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">assumptions do not turn out to be substantially accurate, even if such assumptions are reasonable when made. Significant estimates relied upon in preparing these financial statements include accruals related to research and development expenses, assumptions used to record stock-based compensation expense, and the valuation allowance on the Company's deferred tax assets.  Estimates are periodically reviewed in light of changes in circumstances, facts and experience.  Changes in estimates are recorded in the period in which they become known.  Actual results could differ materially from those estimates.</p>
rytm Number Of Federally Insured Financial Institutions
NumberOfFederallyInsuredFinancialInstitutions
2
rytm Number Of Federally Insured Financial Institutions
NumberOfFederallyInsuredFinancialInstitutions
2
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4444344
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3700754
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3265000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3636000
CY2020Q2 rytm Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
5271000
CY2019Q4 rytm Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
8059000
CY2020Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1118000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1439000
CY2020Q2 rytm Accrued Payroll Related Expense Current
AccruedPayrollRelatedExpenseCurrent
3091000
CY2019Q4 rytm Accrued Payroll Related Expense Current
AccruedPayrollRelatedExpenseCurrent
3655000
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
160000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
377000
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9640000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13530000
CY2020Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
228626000
CY2019Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
292459000
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
168904000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
642000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
11000
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
169535000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
230155000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
54000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
44000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
230165000
rytm Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P5Y
CY2020Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.10
CY2019Q1 us-gaap Lease Practical Expedients Package
LeasePracticalExpedientsPackage
true
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3265000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3636000
CY2018Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P6Y
CY2018Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2020Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
138000
CY2019Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
177000
us-gaap Operating Lease Expense
OperatingLeaseExpense
276000
us-gaap Operating Lease Expense
OperatingLeaseExpense
353000
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
390000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
396000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
802000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
818000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
834000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
851000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
502000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4203000
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
872000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3331000
CY2019Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
9324324
CY2019Q4 us-gaap Share Price
SharePrice
18.50
CY2019Q4 rytm Proceeds From Issuance Initial Public Offering Net Issuance Cost
ProceedsFromIssuanceInitialPublicOfferingNetIssuanceCost
161352000

Files In Submission

Name View Source Status
0001558370-20-008958-index-headers.html Edgar Link pending
0001558370-20-008958-index.html Edgar Link pending
0001558370-20-008958.txt Edgar Link pending
0001558370-20-008958-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
rytm-20200630.xsd Edgar Link pending
rytm-20200630x10q.htm Edgar Link pending
rytm-20200630x10q_htm.xml Edgar Link completed
rytm-20200630xex10d1.htm Edgar Link pending
rytm-20200630xex31d1.htm Edgar Link pending
rytm-20200630xex31d2.htm Edgar Link pending
rytm-20200630xex32d1.htm Edgar Link pending
rytm-20200630xex32d2.htm Edgar Link pending
rytm-20200630_cal.xml Edgar Link unprocessable
rytm-20200630_def.xml Edgar Link unprocessable
rytm-20200630_lab.xml Edgar Link unprocessable
rytm-20200630_pre.xml Edgar Link unprocessable
Show.js Edgar Link pending