RHYTHM PHARMACEUTICALS INC
For the period ended Mar 31, 2024. Filed May 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
RYTM$113.95+0.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | | |
|---|---|---|---|---|---|---|---|
| · · Three months ended March 31, | |||||||
| · 2024 · 2023 | |||||||
| Operating activities | | | | | | | |
| Net loss | | $(141,372) | | $(52,179) | | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | ||||
| Stock-based compensation expense | | 7,767 | | 6,376 | | ||
| Depreciation and amortization | | 405 | | 457 | | ||
| Non-cash interest expense and amortization of debt issuance costs | | | 4,009 | | | 3,061 | |
| Non-cash accretion & amortization of short-term investments | | | (2,055) | | | (2,341) | |
| Unrealized loss on short-term investments | | | (244) | | | — | |
| Non-cash accretion of non-current liability | | | 929 | | | — | |
| Non-cash rent expense | | 111 | | 94 | | ||
| Change in fair value of embedded derivative liability | | | (490) | | | (50) | |
| Acquired IPR&D assets classified as investing activities | | | 92,385 | | | 5,395 | |
| Changes in operating assets and liabilities: | | | | | | ||
| Accounts receivable | | | 172 | | | (1,893) | |
| Inventory | | | 117 | | | (2,570) | |
| Prepaid expenses and other current assets | | (2,421) | | 2,155 | | ||
| Deferred revenue | | | — | | | (6) | |
| Other long-term assets, net | | 1,195 | | (99) | | ||
| Accounts payable, accrued expenses and other liabilities | | (1,251) | | 5,167 | | ||
| Net cash used in operating activities | | (40,743) | | (36,433) | | ||
| Investing activities | | | | ||||
| Purchases of short-term investments | | — | | (69,644) | | ||
| Maturities of short-term investments | | 70,050 | | 92,675 | | ||
| Acquisition of IPR&D assets | | | (40,000) | | | (4,520) | |
| Purchases of property and equipment | | — | | (47) | | ||
| Net cash provided by investing activities | | 30,050 | | 18,464 | | ||
| Financing activities | | | | ||||
| Repayment of deferred royalty obligation | | | (2,783) | | | (1,351) | |
| Proceeds from the exercise of stock options | | 6,353 | | 553 | | ||
| Proceeds from issuance of common stock from ESPP | | 673 | | 665 | | ||
| Net cash provided by (used in) financing activities | | 4,243 | | (133) | | ||
| Effect of exchange rates on cash | | | (71) | | | 86 | |
| Net decrease in cash, cash equivalents and restricted cash | | (6,521) | | (18,016) | | ||
| Cash, cash equivalents and restricted cash at beginning of period | | 60,409 | | 128,005 | | ||
| Cash, cash equivalents and restricted cash at end of period | | $53,888 | | $109,989 | | ||
| Supplemental disclosure of non-cash investing activities: | | | | | | | |
| Non-current liability issued in exchange for the acquisition of IPR&D | | $33,669 | | $— | | ||
| Issuance of common stock in exchange for IPR&D | | $18,716 | | $— | | ||
Rhythm Pharmaceuticals, Inc.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.