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Sep 30, 2023
Rhythm Pharmaceuticals Q3 2023 Earnings Report
Rhythm Pharmaceuticals reported third quarter 2023 financial results and business update.
Key Takeaways
Rhythm Pharmaceuticals reported net revenue from global sales of IMCIVREE® (setmelanotide) of $22.5 million for the third quarter of 2023. The company's cash on-hand of $299.3 million is expected to be sufficient to fund planned operations into 2026.
Third quarter 2023 net revenue from global sales of IMCIVREE® (setmelanotide) of $22.5 million
More than 100 international patients on reimbursed IMCIVREE therapy
Phase 3 hypothalamic obesity trial on track to be fully enrolled by the end of 2023
Cash on-hand of $299.3 million sufficient to fund planned operations into 2026
Forward Guidance
Rhythm anticipates approximately $210 million to $220 million in Non-GAAP Operating Expenses for the year ending December 31, 2023, comprised of $125 million to $130 million from R&D expenses and $85 million to $90 million from S,G&A expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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