RYTM on Nasdaq

Rhythm (United states)

We are a global, commercial-stage biopharmaceutical company dedicated to transforming the lives of patients living with rare neuroendocrine diseases.5 From its latest annual report

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Last updated Oct 19, 2026.

Overview

2008Founded1

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  • TickerRYTM on Nasdaq1
  • Industrypharmaceutical industry1
  • HeadquartersBoston1
  • Websitewww.rhythmtx.com
  • Incorporated inDE4
  • Business address222 Berkeley Street, 12Th Floor, Boston, Ma 021164
  • Filer categoryLarge accelerated filer4
  • Legal formCorporation3
  • LEI529900JPNWXQ8DPLA5513
  • StatusActive3
  • LEI statusIssued and current3
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States3
  • Registered withDivision of Corporations, Department of State, 52874583

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We are a global, commercial-stage biopharmaceutical company dedicated to transforming the lives of patients living with rare neuroendocrine diseases. We are focused on advancing melanocortin-4 receptor (MC4R) agonists, including our lead asset, IMCIVREE ® (setmelanotide), as precision medicines designed to treat hyperphagia and severe obesity caused by rare MC4R pathway diseases. While obesity affects hundreds of millions of people worldwide, we are developing therapies for a subset of individuals who have hyperphagia, a pathological, insatiable hunger and impaired satiety accompanied by persistent and abnormal food-seeking behaviors, decreased energy expenditure and severe obesity due to diseases such as acquired or congenital hypothalamic obesity, Bardet-Biedl syndrome (BBS), Prader-Willi syndrome (PWS) and other diseases caused by impaired MC4R pathway signaling. The MC4R pathway is a…5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-101.2%Operating margin6
-103.6%Net margin6
45.8%Revenue growth, 20256
-141.3%Return on equity6
0.73×Debt to equity6
-$116.6MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue5¢$19.5M
  • Research and development44¢$167.3M
  • Selling, general and admin51¢$194.9M
  • Income tax0¢$497.0K

Out of $189.8M in revenue.6 The company lost money this year.

Financial statements

Revenue7896$189.8M in 2025
0$50.0M$100.0M$150.0M$200.0M2019: $0$020192020: $0$020202021: $3.2M$3.2M20212022: $23.6M$23.6M2022+649%2023: $77.4M$77.4M2023+228%2024: $130.1M$130.1M2024+68%2025: $189.8M$189.8M2025+46%
Operating income1011896-$192.0M in 2025+32% since 2019
-$300.0M-$200.0M-$100.0M02019: -$146.0M-$146.0M20192020: -$136.6M-$136.6M2020−6%2021: -$170.1M-$170.1M2021+25%2022: -$179.2M-$179.2M2022+5%2023: -$184.4M-$184.4M2023+3%2024: -$265.5M-$265.5M2024+44%2025: -$192.0M-$192.0M2025−28%
Net income1011896-$196.5M in 2025+40% since 2019
-$300.0M-$200.0M-$100.0M02019: -$140.7M-$140.7M20192020: -$134.0M-$134.0M2020−5%2021: -$69.6M-$69.6M2021−48%2022: -$181.1M-$181.1M2022+160%2023: -$184.7M-$184.7M2023+2%2024: -$260.6M-$260.6M2024+41%2025: -$196.5M-$196.5M2025−25%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
Total revenues$189.8M$130.1M$77.4M
Cost of sales$19.5M$13.4M$9.3M
Research and development$167.3M$238.0M$135.0M
Selling, general, and administrative$194.9M$144.3M$117.5M
Total costs and expenses$381.8M$395.6M$261.8M
Loss from operations-$192.0M-$265.5M-$184.4M
Other income, net$1.3M$2.2M$190.0K
Gain on settlement of forward contract$0$8.9M$0
Interest expense-$20.6M-$20.6M-$13.9M
Interest income$15.3M$14.7M$13.9M
Total other income (expense), net-$4.0M$5.2M$243.0K
Loss before income taxes-$196.0M-$260.3M-$184.1M
Provision for income taxes$497.0K$346.0K$564.0K
Net loss-$196.5M-$260.6M-$184.7M
Accrued dividends on convertible preferred stock-$5.4M-$4.0M$0
Net loss attributable to common stockholders-$201.9M-$264.6M-$184.7M
Net loss per share attributable to common stockholders, basic (in dollars per share)-$3.11-$4.34-$3.20
Net loss per share attributable to common stockholders, diluted (in dollars per share)-$3.11-$4.34-$3.20
Weighted-average common shares outstanding, basic (in shares)65.0M shares61.0M shares57.7M shares
Weighted-average common shares outstanding, diluted (in shares)65.0M shares61.0M shares57.7M shares
Foreign currency translation adjustment-$1.3M$2.0K-$140.0K
Unrealized (loss) gain, net on marketable securities, net of tax$504.0K-$175.0K$366.0K
Comprehensive loss-$202.7M-$264.7M-$184.5M

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Leadership

Who has led Rhythm (United states), and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Keith Michael Gottesdiener2017–2020
  2. Hunter C. Smith2020
  3. David P. Meeker2020–now

President

  1. Keith Michael Gottesdiener2017–2020
  2. David P. Meeker2020–now

Chief financial officer

  1. Hunter C. Smith2017–now
2010201520202025
Board members and other officers (25)

Former names

  • RHYTHM METABOLIC, INC.Aug 12, 2015 to Aug 12, 20154

Timeline

  1. Jul 21, 2020New chief executive David P. Meeker becomes CEO15
  2. Mar 31, 2020New chief executive Hunter C. Smith becomes CEO14
  3. Oct 4, 2017Went public Listed on NASDAQ1
  4. Oct 4, 2017New chief executive Keith Michael Gottesdiener becomes CEO16
  5. 2008Founded Founded1

Filings

486 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 60 major events, 243 insider forms, 50 large holders, 112 other. The latest 20:

  1. Oct 13, 2026SCHEDULE 13G EDGAR
  2. Sep 14, 2026144 EDGAR
  3. Sep 14, 20264 PRIMARY DOCUMENT EDGAR
  4. Sep 1, 20264 PRIMARY DOCUMENT EDGAR
  5. Aug 31, 2026144 EDGAR
  6. Aug 18, 20264 PRIMARY DOCUMENT EDGAR
  7. Aug 18, 20263 PRIMARY DOCUMENT EDGAR
  8. Aug 17, 20264 PRIMARY DOCUMENT EDGAR
  9. Aug 17, 20264 PRIMARY DOCUMENT EDGAR
  10. Aug 14, 20264 PRIMARY DOCUMENT EDGAR
  11. Aug 14, 20264 PRIMARY DOCUMENT EDGAR
  12. Aug 13, 2026144 EDGAR
  13. Aug 13, 2026144 EDGAR
  14. Aug 13, 2026144 EDGAR
  15. Aug 12, 2026144 EDGAR
  16. Aug 11, 2026144 EDGAR
  17. Aug 10, 2026144 EDGAR
  18. Aug 4, 202610-Q EDGAR
  19. Aug 4, 20268-K EDGAR
  20. Jul 2, 20264 OWNERSHIP DOCUMENT EDGAR

The 486 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

151 open-market trades by officers, directors and large owners since October 2021: 0 buys and 151 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 14, 2026Meeker David PPresident and CEOSale50,000$102.67$5.1MForm 4
Aug 31, 2026Smith Hunter CChief Financial OfficerSale62,774$105.46$6.6MForm 4
Aug 13, 2026Shulman JosephChief Technical OfficerSale5,079$119.75$608.2KForm 4
Aug 13, 2026Garfield AlastairChief Scientific OfficerSale7,763$117.57$912.7KForm 4
Aug 13, 2026Lee Jennifer KaydenEVP, Head of North AmericaSale75,834$117.38$8.9MForm 4
Aug 12, 2026Mazabraud YannEVP, Head of InternationalSale57,000$116.15$6.6MForm 4
Jun 22, 2026TETRAULT LYNN A.DirectorSale37,000$100.32$3.7MForm 4
May 15, 2026German Christopher PaulCorporate Controller & CAOSale4,643$92.21$428.1KForm 4
Mar 4, 2026German Christopher PaulCorporate Controller & CAOSale5,614$89.56$502.8KForm 4
Feb 19, 2026Smith Hunter CChief Financial OfficerSale4,385$101.26$444.0KForm 4
Feb 17, 2026Smith Hunter CChief Financial OfficerSale3,569$101.38$361.8KForm 4
Feb 12, 2026Smith Hunter CChief Financial OfficerSale1,592$98.23$156.4KForm 4
Feb 11, 2026Smith Hunter CChief Financial OfficerSale2,766$98.61$272.8KForm 4
Feb 10, 2026Smith Hunter CChief Financial OfficerSale2,713$103.00$279.4KForm 4
Feb 5, 2026Smith Hunter CChief Financial OfficerSale3,381$106.06$358.6KForm 4
Feb 4, 2026Smith Hunter CChief Financial OfficerSale3,247$105.99$344.1KForm 4
Dec 11, 2025Cramer Pamela J.Chief Human Resources OfficerSale3,350$111.00$371.9KForm 4
Nov 20, 2025Cramer Pamela J.Chief Human Resources OfficerSale3,350$105.00$351.8KForm 4
Nov 10, 2025Cramer Pamela J.Chief Human Resources OfficerSale3,515$100.00$351.5KForm 4
Nov 7, 2025Cramer Pamela J.Chief Human Resources OfficerSale19,351$98.82$1.9MForm 4

All 151 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Ra Capital Management, L.P.6,666,837$740.2M6.4%No change
BlackRock, Inc.6,156,902$683.6M0.0%−80,249
Baker Bros. Advisors LP5,604,483$622.3M3.1%No change
Primecap Management Co/ca/3,168,853$351.8M0.2%−248,656
Vanguard Portfolio Management LLC3,136,895$348.3M0.0%+96,177
Vanguard Capital Management LLC3,005,977$333.8M0.0%+38,152
Jpmorgan Chase & Co2,652,746$292.2M0.0%+1,099,102
Perceptive Advisors LLC2,586,295$287.2M4.5%+212,500
State Street Corp2,573,529$285.7M0.0%+301,678
Westfield Capital Management Co LP2,208,595$245.2M0.8%+279,472
Goldman Sachs Group Inc2,126,502$236.1M0.0%+161,070
Federated Hermes, Inc.1,785,716$198.3M0.3%+499,413
Polar Capital Holdings Plc1,663,632$184.7M0.5%+48,046
Geode Capital Management, LLC1,533,698$170.3M0.0%+117,429
Capital Research Global Investors1,532,303$170.1M0.0%+416,843
Citadel Advisors LLC1,263,652$140.3M0.1%−154,967
Checkpoint Capital L.P.1,186,000$131.7M33.8%−41,200
Siren, L.L.C.1,136,275$126.2M2.6%+410,764
Morgan Stanley1,112,240$123.5M0.0%+408,262
Fmr LLC1,025,840$113.9M0.0%−663,831
Pictet Asset Management Holding SA957,785$106.3M0.1%+290,739
Jupiter Topco LLC925,490$102.8M0.0%New
Woodline Partners LP758,891$84.3M0.3%No change
Alliancebernstein L.P.894,723$77.8M0.0%−15,690
Clearbridge Investments, LLC696,473$77.3M0.1%+87,036

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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