RHYTHM PHARMACEUTICALS INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
RYTM$113.95+0.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Year ended December 31, | |||||||||
| | 2023 | 2022 | 2021 | ||||||
| Operating activities | | | | | | | | | |
| Net loss | | $(184,678) | | $(181,119) | | $(69,612) | |||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | ||||||
| Stock-based compensation expense | | 32,553 | | 19,831 | | 20,804 | |||
| Gain on sale of priority review voucher | | | — | | | — | | | (100,000) |
| Depreciation and amortization | | 1,758 | | 1,672 | | 1,158 | |||
| Non-cash interest expense and amortization of debt issuance costs | | | 13,360 | | | 5,389 | | | — |
| Non-cash accretion & amortization of short-term investments | | | (9,835) | | | (2,314) | | | — |
| Non-cash rent expense | | 401 | | (267) | | (250) | |||
| Loss on RareStone equity investment | | | — | | | 1,040 | | | — |
| Change in fair value of embedded derivative liability | | | (190) | | | (250) | | | — |
| Acquired IPR&D assets classified as investing activities | | | 5,667 | | | — | | | — |
| Changes in operating assets and liabilities: | | | | | | ||||
| Accounts receivable | | | (8,643) | | | (5,199) | | | (1,250) |
| Inventory | | | (5,707) | | | (2,806) | | | (11) |
| Prepaid expenses and other current assets | | 2,876 | | 498 | | (3,339) | |||
| Deferred revenue | | | (148) | | | (6,606) | | | — |
| Other long-term assets, net | | 1,656 | | (4,840) | | (11,815) | |||
| Accounts payable, accrued expenses and other liabilities | | 14,773 | | 1,543 | | 18,312 | |||
| Net cash used in operating activities | | (136,157) | | (173,428) | | (146,003) | |||
| Investing activities | | | | ||||||
| Purchases of short-term investments | | (354,918) | | (251,937) | | (524,972) | |||
| Maturities of short-term investments | | 354,967 | | 284,247 | | 361,247 | |||
| Proceeds from sale of priority review voucher | | | — | | | — | | | 100,000 |
| Proceeds from out-license agreement | | | — | | | — | | | 7,000 |
| Payment of milestone obligation under license agreement | | | — | | | (4,000) | | | (5,000) |
| Acquisition of IPR&D assets, including transaction costs | | | (5,667) | | | — | | | — |
| Purchases of property and equipment | | (47) | | (281) | | (434) | |||
| Net cash (used in) provided by investing activities | | (5,665) | | 28,029 | | (62,159) | |||
| Financing activities | | | | ||||||
| Repayment of deferred royalty obligation | | | (7,398) | | | — | | | — |
| Net proceeds from issuance of common stock | | | 48,875 | | | 131,112 | | | 161,726 |
| Proceeds from the exercise of stock options | | 7,468 | | 9,752 | | 4,134 | |||
| Proceeds from issuance of common stock from ESPP | | 1,053 | | 626 | | 621 | |||
| Proceeds from royalty financing agreement, net of issuance costs | | | 24,370 | | | 72,338 | | | — |
| Net cash provided by financing activities | | 74,368 | | 213,828 | | 166,481 | |||
| Effect of exchange rates on cash | | | (142) | | | — | | | — |
| Net (decrease) increase in cash, cash equivalents and restricted cash | | (67,596) | | 68,429 | | (41,681) | |||
| Cash, cash equivalents and restricted cash at beginning of period | | 128,005 | | 59,576 | | 101,257 | |||
| Cash, cash equivalents and restricted cash at end of period | | $60,409 | | $128,005 | | $59,576 | |||
Rhythm Pharmaceuticals, Inc.
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