RHYTHM PHARMACEUTICALS INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
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, | |||||||||
| · 2024 · 2023 · · · 2022 | |||||||||
| Operating activities | | | | | | | | | |
| Net loss | | $(260,602) | | $(184,678) | | $(181,119) | |||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | |||||
| Stock-based compensation expense | | 39,682 | | 32,553 | | 19,831 | |||
| Depreciation and amortization | | 1,563 | | 1,758 | | 1,672 | |||
| Non-cash interest expense | | | 20,603 | | | 13,360 | | | 5,389 |
| Non-cash accretion & amortization of short-term investments | | | (8,165) | | | (9,835) | | | (2,314) |
| Non-cash rent expense | | 400 | | 401 | | (267) | |||
| Loss on RareStone equity investment | | | — | | | — | | | 1,040 |
| Change in fair value of embedded derivative liability | | | (1,420) | | | (190) | | | (250) |
| Gain on settlement of forward contract | | | (8,900) | | | — | | | — |
| Acquired IPR&D assets classified as investing activities | | | 92,385 | | | 5,667 | | | — |
| Changes in operating assets and liabilities: | | | | | | | |||
| Accounts receivable | | | (3,645) | | | (8,643) | | | (5,199) |
| Inventory | | | (10,117) | | | (5,707) | | | (2,806) |
| Prepaid expenses and other current assets | | (5,524) | | 2,876 | | 498 | |||
| Deferred revenue | | | — | | | (148) | | | (6,606) |
| Other long-term assets, net | | 7,943 | | 1,656 | | (4,840) | |||
| Accounts payable, accrued expenses and other liabilities | | 21,918 | | 14,773 | | 1,543 | |||
| Net cash used in operating activities | | (113,879) | | (136,157) | | (173,428) | |||
| Investing activities | | | | | |||||
| Purchases of short-term investments | | (268,313) | | (354,918) | | (251,937) | |||
| Maturities of short-term investments | | 260,640 | | 354,967 | | 284,247 | |||
| Acquisition of IPR&D assets | | | (40,500) | | | (5,667) | | | — |
| Payment of milestone obligation under license agreement | | | — | | | — | | | (4,000) |
| Purchases of property and equipment | | — | | (47) | | (281) | |||
| Net cash (used in) provided by investing activities | | (48,173) | | (5,665) | | 28,029 | |||
| Financing activities | | | | | |||||
| Repayment of deferred royalty obligation | | | (12,900) | | | (7,398) | | | — |
| Proceeds from the exercise of stock options | | 15,976 | | 7,468 | | 9,752 | |||
| Proceeds from issuance of common stock from ESPP | | 1,270 | | 1,053 | | 626 | |||
| Net proceeds from issuance of common stock | | | 39,146 | | | 48,875 | | | 131,112 |
| Proceeds from royalty financing agreement, net of issuance costs | | | — | | | 24,370 | | | 72,338 |
| Gain on settlement of forward contract | | | 8,900 | | | — | | | — |
| Proceeds from Series A Preferred Stock, net of issuance costs | | | 138,850 | | | — | | | — |
| Net cash provided by financing activities | | 191,242 | | 74,368 | | 213,828 | |||
| Effect of exchange rates on cash | | | 2 | | | (142) | | | — |
| Net increase (decrease) in cash, cash equivalents and restricted cash | | 29,192 | | (67,596) | | 68,429 | |||
| Cash, cash equivalents and restricted cash at beginning of period | | 60,409 | | 128,005 | | 59,576 | |||
| Cash, cash equivalents and restricted cash at end of period | | $89,601 | | $60,409 | | $128,005 | |||
| Supplemental disclosure of non-cash investing and financing 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 | | $— | | $— | |||
| Accretion of preferred stock dividends | | $3,970 | | $— | | $— | |||
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.