Welcome to our dedicated page for Rhythm Pharmaceu SEC filings (Ticker: RYTM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Rhythm Pharmaceuticals, Inc.'s SEC filings document a commercial-stage biopharmaceutical company whose disclosures center on IMCIVREE (setmelanotide), MC4R pathway rare-disease indications and related clinical and regulatory milestones. Recent Form 8-K reports include operating results, product-revenue commentary, FDA and European regulatory updates for acquired hypothalamic obesity, and trial disclosures for programs such as TRANSCEND and EMANATE.
Rhythm's proxy materials and governance filings disclose board composition, director elections, executive compensation, equity awards and shareholder voting matters. Other current reports record director changes, Regulation FD materials, presentations and press releases, tying corporate governance and public-company reporting to the company's rare neuroendocrine disease portfolio.
RYTM filing reports a proposed sale of 64,540 common shares on 03/04/2026 described as an exercise of options under a registered plan. The filing also records a sale of 35,460 common shares by Camille L. Bedrosian on 03/03/2026 for $3,209,778.92.
Rhythm Pharmaceuticals Corporate Controller and Chief Accounting Officer Christopher Paul German reported routine equity compensation activity. On March 1, 2026, he exercised 1,162 restricted stock units, receiving the same number of common shares at $0.00 per share. Of these, 342 common shares were automatically withheld at $94.94 per share to cover tax obligations, rather than sold on the open market. After these transactions, he directly owned 4,253 shares of common stock. The underlying restricted stock units vest in four equal 25% installments on March 20, 2024, March 20, 2025, March 1, 2026, and March 1, 2027, contingent on continued service.
RYTM proposed sale of 35,460 common shares on 03/03/2026. The filing lists 35,460 shares tied to an exercise of options under a registered plan and an aggregate value of $3,209,778.92 on 03/03/2026. The transaction is reported through Morgan Stanley Smith Barney LLC on NASDAQ.
Rhythm Pharmaceuticals' Chief Financial Officer Hunter C. Smith acquired shares through an option exercise. On March 2, 2026, Smith exercised stock options for 6,099 options, which converted into 6,099 shares of common stock at an exercise price of $6.80 per share.
After these transactions, Smith directly held 91,401 stock options and 116,611 shares of common stock. The filing notes that the options involved in this exercise were fully vested.
Rhythm Pharmaceuticals, Inc. reported additional positive 52-week data from its global Phase 3 TRANSCEND trial of setmelanotide in acquired hypothalamic obesity. Across all 142 patients, including 12 from a Japanese cohort and 10 supplemental patients, treatment achieved a -18.8% placebo-adjusted difference in BMI reduction.
The company’s supplemental New Drug Application for setmelanotide in acquired hypothalamic obesity is under U.S. FDA review with a March 20, 2026 PDUFA goal date, and Rhythm will submit the final data package on March 2, 2026. In Europe, a Type II variation to the Marketing Authorization Application is under EMA review, with an expected CHMP opinion in the second quarter of 2026 and potential marketing authorization in the second half of 2026.
Rhythm also plans to submit the full data package to Japan’s PMDA to seek marketing authorization. The company estimates about 10,000 patients with acquired hypothalamic obesity in the United States, approximately 10,000 in Europe and 5,000 to 8,000 in Japan, highlighting a meaningful rare-disease population for this potential new indication.
Rhythm Pharmaceuticals, Inc. filed a shelf registration that registers resale of 2,395,831 shares of common stock issuable upon conversion of Series A Convertible Preferred Stock and a sales agreement to offer up to $200,000,000 of common stock under an at‑the‑market style arrangement with TD Securities (USA) LLC.
The selling stockholders’ resale will not provide proceeds to the company; the sales agreement permits the company to issue and sell shares from time to time after the effective date, with specific terms to be provided in prospectus supplements.
Rhythm Pharmaceuticals files its Annual Report outlining progress in rare obesity therapies. The company is a commercial-stage biopharma focused on melanocortin-4 receptor (MC4R) agonists, led by IMCIVREE (setmelanotide), and has generated approximately $422.5 million from product sales to date while remaining unprofitable.
IMCIVREE is already approved in the United States, European Union, United Kingdom and other regions for several rare MC4R pathway obesities, including Bardet-Biedl syndrome and biallelic POMC, PCSK1 and LEPR deficiencies, with use now extending to children as young as 2 years in key markets. A Phase 3 trial in acquired hypothalamic obesity showed a placebo‑adjusted body mass index reduction of 19.8%, supporting regulatory reviews in the United States and Europe, including an FDA PDUFA goal date of March 20, 2026.
Rhythm also highlights a broad pipeline: the Phase 3 EMANATE trial in multiple genetically defined MC4R pathway diseases with topline data expected in March 2026, positive exploratory data in Prader‑Willi syndrome, and two next‑generation MC4R agonists—oral bivamelagon, which produced up to a 9.3% BMI reduction in a Phase 2 hypothalamic obesity trial, and weekly injectable RM‑718. The company is investing in large-scale genetic testing and early research in congenital hyperinsulinism while warning that it will need additional funding and continues to face significant clinical, regulatory and commercial risks.
Rhythm Pharmaceuticals reported strong growth for the fourth quarter and full year 2025 while remaining loss-making. Net product revenue from global sales of IMCIVREE® was $57.3 million in the fourth quarter and $194.8 million for 2025, up from $41.8 million and $130.1 million in 2024. Cash, cash equivalents and short-term investments were $388.9 million as of December 31, 2025, compared with $320.6 million a year earlier, giving the company at least 24 months of operating runway based on current plans.
R&D expenses were $167.3 million in 2025, down from $238.0 million mainly due to non-recurring in-process R&D costs in 2024, while SG&A expenses rose to $194.9 million from $144.3 million as the company expanded headcount and commercial operations. Net loss attributable to common stockholders narrowed to $201.9 million in 2025 from $264.6 million in 2024, with loss per share improving to $3.11 from $4.34.
The company highlighted a March 20, 2026 PDUFA goal date for its supplemental application seeking approval of setmelanotide for acquired hypothalamic obesity, positive Phase 2 data for oral MC4R agonist bivamelagon, and multiple upcoming Phase 3 and Phase 2 data readouts in 2026. Rhythm guided to 2026 non-GAAP operating expenses of $385 million to $415 million, excluding stock-based compensation and certain in-licensing costs, reflecting continued investment in commercial expansion and its MC4R pathway pipeline.
Rhythm Pharmaceuticals Chief Financial Officer Hunter C. Smith reported open-market sales of a total of 7,954 shares of common stock on February 17 and 19, 2026, at prices generally around $100 per share.
The transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 28, 2025. After these sales, Smith directly holds 110,512 shares of Rhythm Pharmaceuticals common stock.
Rhythm Pharmaceuticals EVP Yann Mazabraud reported equity award activity involving restricted stock units and common stock. On February 14, 2026, he exercised or converted 10,000 restricted stock units into 10,000 shares of common stock at a price of $0.00 per share, reflecting the non-cash nature of the award.
After these transactions, he directly held 30,000 restricted stock units and 53,155 shares of common stock. Each restricted stock unit represents a right to receive one share of common stock and vests in four 25% installments on February 14, 2026, February 1, 2027, February 1, 2028, and February 1, 2029.