2023 Q2 Form 10-Q Financial Statement
#000155837023007675 Filed on May 02, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 |
---|---|---|
Revenue | $19.22M | $11.47M |
YoY Change | 112.01% | 665.62% |
Cost Of Revenue | $2.236M | $1.421M |
YoY Change | 491.53% | 517.83% |
Gross Profit | $16.99M | $10.05M |
YoY Change | 95.5% | 692.43% |
Gross Profit Margin | 88.37% | 87.61% |
Selling, General & Admin | $30.05M | $24.63M |
YoY Change | 34.57% | 14.85% |
% of Gross Profit | 176.9% | 245.16% |
Research & Development | $33.54M | $37.95M |
YoY Change | 6.63% | 16.72% |
% of Gross Profit | 197.49% | 377.64% |
Depreciation & Amortization | $442.0K | $457.0K |
YoY Change | 0.91% | 30.57% |
% of Gross Profit | 2.6% | 4.55% |
Operating Expenses | $63.59M | $62.58M |
YoY Change | 18.23% | 15.98% |
Operating Profit | -$46.60M | -$52.53M |
YoY Change | 3.34% | -0.3% |
Interest Expense | -$82.00K | $3.061M |
YoY Change | -186.32% | -4293.15% |
% of Operating Profit | ||
Other Income/Expense, Net | -$17.00K | $352.0K |
YoY Change | -117.89% | -582.19% |
Pretax Income | -$46.70M | -$52.18M |
YoY Change | 3.78% | -1.11% |
Income Tax | $0.00 | |
% Of Pretax Income | ||
Net Earnings | -$46.70M | -$52.18M |
YoY Change | 3.78% | -1.11% |
Net Earnings / Revenue | -242.98% | -454.96% |
Basic Earnings Per Share | -$0.82 | -$0.92 |
Diluted Earnings Per Share | -$0.82 | -$0.92 |
COMMON SHARES | ||
Basic Shares Outstanding | 56.85M | 56.75M |
Diluted Shares Outstanding | 56.87M | 56.71M |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $253.6M | $294.6M |
YoY Change | 7.64% | 22.25% |
Cash & Equivalents | $115.7M | $109.7M |
Short-Term Investments | $137.9M | $184.9M |
Other Short-Term Assets | $10.27M | $9.652M |
YoY Change | -14.65% | -16.96% |
Inventory | $6.178M | $5.487M |
Prepaid Expenses | ||
Receivables | $13.83M | $8.117M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $283.9M | $317.8M |
YoY Change | 13.86% | 25.41% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $2.763M | $2.001M |
YoY Change | 7.97% | -26.49% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $15.85M | $17.08M |
YoY Change | -1.66% | -8.57% |
Total Long-Term Assets | $26.07M | $27.84M |
YoY Change | -8.04% | -11.27% |
TOTAL ASSETS | ||
Total Short-Term Assets | $283.9M | $317.8M |
Total Long-Term Assets | $26.07M | $27.84M |
Total Assets | $309.9M | $345.7M |
YoY Change | 11.62% | 21.37% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $8.383M | $13.35M |
YoY Change | 39.44% | 11.13% |
Accrued Expenses | $30.39M | $30.55M |
YoY Change | -14.66% | 21.23% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $46.10M | $46.03M |
YoY Change | 3.44% | -2.63% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $79.35M | $77.52M |
YoY Change | 131.51% | |
Other Long-Term Liabilities | $2.208M | $2.366M |
YoY Change | -31.09% | 32.85% |
Total Long-Term Liabilities | $81.56M | $79.89M |
YoY Change | 117.61% | 4385.46% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $46.10M | $46.03M |
Total Long-Term Liabilities | $81.56M | $79.89M |
Total Liabilities | $127.7M | $125.9M |
YoY Change | 55.59% | 156.68% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$808.9M | -$762.2M |
YoY Change | 29.08% | 31.04% |
Common Stock | $57.00K | $56.00K |
YoY Change | 14.0% | 12.0% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $182.3M | $219.8M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $309.9M | $345.7M |
YoY Change | 11.62% | 21.37% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$46.70M | -$52.18M |
YoY Change | 3.78% | -1.11% |
Depreciation, Depletion And Amortization | $442.0K | $457.0K |
YoY Change | 0.91% | 30.57% |
Cash From Operating Activities | -$41.09M | -$36.43M |
YoY Change | 5.88% | -32.07% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $0.00 | $47.00K |
YoY Change | -100.0% | -62.99% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $48.19M | $18.51M |
YoY Change | 33.72% | -74.52% |
Cash From Investing Activities | $48.19M | $18.46M |
YoY Change | 33.94% | -74.54% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | $1.351M | |
YoY Change | ||
Cash From Financing Activities | -965.0K | -133.0K |
YoY Change | -102.57% | -133.33% |
NET CHANGE | ||
Cash From Operating Activities | -41.09M | -36.43M |
Cash From Investing Activities | 48.19M | 18.46M |
Cash From Financing Activities | -965.0K | -133.0K |
Net Change In Cash | 6.136M | -18.02M |
YoY Change | -82.3% | -193.4% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$41.09M | -$36.43M |
Capital Expenditures | $0.00 | $47.00K |
Free Cash Flow | -$41.09M | -$36.48M |
YoY Change | 6.04% | -32.14% |
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CY2023Q1 | us-gaap |
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StockholdersEquity
|
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CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
284151000 | |
CY2022Q1 | us-gaap |
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|
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CY2022Q1 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
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|
399000 | |
CY2022Q1 | us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
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CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
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CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
235769000 | |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
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CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
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CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
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CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4611000 | |
CY2023Q1 | rytm |
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Depreciationdepletionandamortizationpropertyandequipmentincludingintangibleassets
|
457000 | |
CY2022Q1 | rytm |
Depreciationdepletionandamortizationpropertyandequipmentincludingintangibleassets
Depreciationdepletionandamortizationpropertyandequipmentincludingintangibleassets
|
350000 | |
CY2023Q1 | rytm |
Non Cash Interest Expense And Amortization Of Debt Issuance Costs
NonCashInterestExpenseAndAmortizationOfDebtIssuanceCosts
|
3061000 | |
CY2023Q1 | rytm |
Deferred Rent Expense
DeferredRentExpense
|
94000 | |
CY2022Q1 | rytm |
Deferred Rent Expense
DeferredRentExpense
|
-65000 | |
CY2023Q1 | us-gaap |
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IncreaseDecreaseInDerivativeLiabilities
|
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CY2023Q1 | rytm |
Acquired In Process Research And Development Assets Classified As Investing Activities
AcquiredInProcessResearchAndDevelopmentAssetsClassifiedAsInvestingActivities
|
5395000 | |
CY2023Q1 | us-gaap |
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IncreaseDecreaseInAccountsReceivable
|
1893000 | |
CY2023Q1 | us-gaap |
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IncreaseDecreaseInInventories
|
2570000 | |
CY2023Q1 | us-gaap |
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IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
186000 | |
CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
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|
-950000 | |
CY2023Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
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CY2023Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
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CY2022Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
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CY2023Q1 | us-gaap |
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CY2022Q1 | us-gaap |
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|
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CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
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|
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CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
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CY2023Q1 | us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
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CY2022Q1 | us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
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CY2023Q1 | us-gaap |
Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
|
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CY2022Q1 | us-gaap |
Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
|
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CY2023Q1 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
4520000 | |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
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CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
127000 | |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
18464000 | |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
72522000 | |
CY2023Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
1351000 | |
CY2023Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2023Q1 | dei |
Document Quarterly Report
DocumentQuarterlyReport
|
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CY2023Q1 | dei |
Current Fiscal Year End Date
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|
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CY2023Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2023 | |
CY2023Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2023Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001649904 | |
CY2023Q1 | dei |
Amendment Flag
AmendmentFlag
|
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CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
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CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
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CY2023Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-18016000 | |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
19289000 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
128005000 | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
59576000 | |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
109989000 | |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
78865000 | |
CY2023Q1 | rytm |
Holdback Payable Associated With Acquisition In Accrued Expenses Non Cash Investing Activities
HoldbackPayableAssociatedWithAcquisitionInAccruedExpensesNonCashInvestingActivities
|
500000 | |
CY2023Q1 | rytm |
Transaction Costs Associated With Acquisition In Accounts Payable Non Cash Investing Activities
TransactionCostsAssociatedWithAcquisitionInAccountsPayableNonCashInvestingActivities
|
375000 | |
CY2023Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<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. (the “Company” or “we”) is a global, commercial-stage biopharmaceutical company dedicated to transforming the lives of patients and their families living with rare diseases. We are focused on advancing our lead asset, IMCIVREE<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup> (setmelanotide), as a precision medicine designed to treat hyperphagia and severe obesity caused by rare melanocortin-4 receptor (MC4R) pathway diseases. While obesity affects hundreds of millions of people worldwide, we are advancing IMCIVREE<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup> (setmelanotide) for a subset of individuals who have hyperphagia, a pathological hunger, and severe obesity due to an impaired MC4R pathway, which may be caused by traumatic injury or genetic variants. The MC4R pathway is an endocrine pathway in the brain that is responsible for regulating hunger, caloric intake and energy expenditure, which consequently affect body weight. IMCIVREE, an MC4R agonist for which we hold worldwide rights, is the first-ever therapy developed for patients with certain ultra-rare diseases that is approved or authorized in the United States (US), European Union (EU) and Great Britain.</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. The Company has wholly owned subsidiaries in the US, Ireland, the United Kingdom, the Netherlands, France, Germany, Italy, Spain and Canada.</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:#ffffff;">The Company is subject to risks and uncertainties common to commercial-stage companies in the biotechnology industry, including but not limited to, risks associated with the commercialization of approved products, 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. Commercialization of approved products will require significant resources and in order to market IMCIVREE, the Company must continue to build its sales, marketing, managerial and other non-technical capabilities or make arrangements with third parties to perform these services. 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. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">There are many uncertainties regarding the COVID-19 pandemic, and the Company is closely monitoring the impact of the pandemic on all aspects of its business, including how the pandemic may continue to impact its patients, employees, suppliers, vendors, business partners and distribution channels. While the pandemic did not materially affect the Company's financial results and business operations for the three months ended March 31, 2023, the Company is unable to predict the impact that COVID-19 will have on its financial position and operating results in future periods due to numerous uncertainties. The Company will continue to assess the evolving impact of the COVID-19 pandemic and will make adjustments to its operations as necessary.</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 March 31, 2023, the Company had an accumulated deficit of $762,237. The Company has primarily funded these losses through the proceeds from the sales of common and preferred stock, asset sales, royalty financing, out-license arrangements, as well as capital contributions received from the former parent company, Rhythm Holdings LLC. To date, the Company has minimal product revenue and management expects 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, commercialization activities and general and administrative functions relating to these operations. The future success of </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">the Company is dependent on its ability to develop its product candidates and ultimately upon its ability to attain profitable operations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">At March 31, 2023, the Company had $294,582 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, product sales 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 and cash equivalents and short-term investments will be sufficient to fund the Company’s operations <span style="background:#ffffff;">through at least the next twelve months from the filing of this Quarterly Report on Form 10-Q with the SEC</span>.</p> | |
CY2023Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-762237000 | |
CY2023Q1 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
294582000 | |
CY2023Q1 | 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 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 estimates related to determining our net product revenue, license revenue, accruals related to research and development expenses, assumptions used to record stock-based compensation expense, interest expense on our deferred royalty obligation, assumptions used to value the embedded derivative in our deferred royalty obligation, assumptions used to value the common stock received from RareStone Group </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Ltd., or RareStone, 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> | |
CY2023Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Reclassification of Prior Year Balances</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no effect on the reported results of operations or cash flows. Specifically, in the condensed consolidated statement of operations and comprehensive loss for the three months ended March 31, 2022, the Company has reclassified $160 of interest income which was previously recorded within other (expense) income, net to interest income.</p> | |
CY2023Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
CY2023Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | |
CY2023Q1 | rytm |
Number Of Federally Insured Financial Institutions
NumberOfFederallyInsuredFinancialInstitutions
|
2 | |
CY2023Q1 | rytm |
Number Of Federally Insured Financial Institutions
NumberOfFederallyInsuredFinancialInstitutions
|
2 | |
CY2023Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
11469000 | |
CY2022Q1 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
1498000 | |
CY2023Q1 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
184948000 | |
CY2023Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
27000 | |
CY2022Q1 | us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
0 | |
CY2023Q1 | us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
0 | |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
8632792 | |
CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
8968037 | |
CY2023Q1 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
4696000 | |
CY2023Q1 | rytm |
Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
|
13956000 | |
CY2022Q4 | rytm |
Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
|
11379000 | |
CY2023Q1 | us-gaap |
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|
3417000 | |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
4502000 | |
CY2023Q1 | rytm |
Accrued Payroll Related Expense Current
AccruedPayrollRelatedExpenseCurrent
|
5501000 | |
CY2022Q4 | rytm |
Accrued Payroll Related Expense Current
AccruedPayrollRelatedExpenseCurrent
|
11444000 | |
CY2023Q1 | rytm |
Royalties Current
RoyaltiesCurrent
|
586000 | |
CY2022Q4 | rytm |
Royalties Current
RoyaltiesCurrent
|
440000 | |
CY2023Q1 | rytm |
Sales Allowances Accrued Current
SalesAllowancesAccruedCurrent
|
4265000 | |
CY2022Q4 | rytm |
Sales Allowances Accrued Current
SalesAllowancesAccruedCurrent
|
2710000 | |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
2824000 | |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
2419000 | |
CY2023Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
30549000 | |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
32894000 | |
CY2023Q1 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
294582000 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
333288000 | |
CY2023Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
184921000 | |
CY2022Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
205702000 | |
CY2022Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
91000 | |
CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
205611000 | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
|
P2Y3M18D | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
|
0.10 | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P6Y | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
|
P5Y | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
|
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CY2023Q1 | us-gaap |
Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
|
P5Y | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
627000 | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
851000 | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
502000 | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1980000 | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
199000 | |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1781000 | |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
7669000 | |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
641000 | |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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|
855000 | |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
855000 | |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
855000 | |
CY2023Q1 | us-gaap |
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FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
855000 | |
CY2023Q1 | rytm |
Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
|
3608000 | |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
7669000 | |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | |
CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 |