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RHYTHM PHARMACEUTICALS, INC.

RYTM · Pharmaceutical Preparations · 68.5M shares · +12%/yr ↑ dilution · EDGAR filings ↗

Reference price $100.32 · est. market cap ~$6.9B — last insider sale, 2026-06-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

C65

Commercial-stage rare-disease franchise with an approved product, high gross margin and multiple positive pivotal readouts driving near-term label expansion.

Strengths

Risks

Notable findings

Quarterly revenue

2025-06-30 · $49M2025-09-30 · $51M2025-12-31 · $57M2026-03-31 · $60M

Last 4 quarters · from SEC filings.

Key metrics

Gross margin
89.7%
Operating margin
-101.2%
Net margin
-103.6%
Return on equity
-141.3%
Return on assets
-40.9%
ROIC
-63.2%
Revenue growth (QoQ)
5.0%
Debt / equity
0.7×
Current ratio
4.4×
Free cash flow
-$117M
EBITDA
-$192M
Tangible book value
$134M
Cash & investments
$389M
Cash runway
13q
Stock comp / revenue
35.2%

Insider transactions · last 18 months

DateInsiderTypeSharesPrice
2026-06-23GOOD JENNIFER LOption exercise4.7K
2026-06-23MCGIRR DAVID W JOption exercise4.7K
2026-06-23Arbuckle Stuart AOption exercise4.7K
2026-06-23JEAN CHRISTOPHEOption exercise4.7K
2026-06-23TETRAULT LYNN A.Option exercise4.7K
2026-06-22TETRAULT LYNN A.Option exercise37K$28.27
2026-06-22TETRAULT LYNN A.Sell37K$100.32
2026-05-18Smith Hunter COption exercise3.0K$17.87
2026-05-15German Christopher PaulSell4.6K$92.21
2026-05-15German Christopher PaulOption exercise1.7K$56.69
2026-05-15German Christopher PaulOption exercise1.3K$49.23
2026-05-15German Christopher PaulOption exercise1.4K$17.97
2026-04-01Mazabraud YannOption exercise13K
2026-03-12Mathers Edward TOther4.2K
2026-03-04German Christopher PaulOption exercise1.5K$17.97
2026-03-04German Christopher PaulSell5.6K$89.56
2026-03-02Smith Hunter COption exercise6.1K$6.80
2026-03-02Mathers Edward TOther4.2K
2026-03-01German Christopher PaulTax withheld342$94.94
2026-03-01German Christopher PaulOption exercise1.2K
2026-02-19Smith Hunter CSell800$102.10
2026-02-19Smith Hunter CSell1.3K$100.27
2026-02-19Smith Hunter CSell1.7K$100.92
2026-02-19Smith Hunter CSell585$103.28
2026-02-17Smith Hunter CSell200$103.84
2026-02-17Smith Hunter CSell1.2K$99.42
2026-02-17Smith Hunter CSell200$100.52
2026-02-17Smith Hunter CSell900$101.70
2026-02-17Smith Hunter CSell1.1K$103.00
2026-02-14Mazabraud YannOption exercise10K
2026-02-12Smith Hunter CSell292$96.26
2026-02-12Smith Hunter CSell400$97.67
2026-02-12Smith Hunter CSell800$98.99
2026-02-12Smith Hunter CSell100$100.10
2026-02-11Smith Hunter CSell400$99.44
2026-02-11Smith Hunter CSell100$100.85
2026-02-11Smith Hunter CSell2.3K$98.37
2026-02-10Smith Hunter CSell700$103.68
2026-02-10Smith Hunter CSell100$104.76
2026-02-10Smith Hunter CSell1.9K$102.66
2026-02-05Smith Hunter CSell3.4K$106.06
2026-02-04Smith Hunter CSell1.0K$106.60
2026-02-04Smith Hunter CSell1.5K$104.74
2026-02-04Smith Hunter CSell747$107.67
2026-02-01Cramer Pamela J.Tax withheld4.7K$108.99
2026-02-01Mazabraud YannOption exercise5.5K
2026-02-01Smith Hunter COption exercise26K
2026-02-01Smith Hunter CTax withheld11K$108.99
2026-02-01Shulman JosephOption exercise17K
2026-02-01Shulman JosephTax withheld6.5K$108.99
2026-02-01Meeker David POption exercise69K
2026-02-01Meeker David PTax withheld32K$108.99
2026-02-01Lee Jennifer KaydenOption exercise23K
2026-02-01Lee Jennifer KaydenTax withheld9.2K$108.99
2026-02-01German Christopher PaulOption exercise3.6K
2026-02-01German Christopher PaulTax withheld1.1K$108.99
2026-02-01Garfield AlastairOption exercise6.7K
2026-02-01Garfield AlastairTax withheld2.0K$108.99
2026-02-01Cramer Pamela J.Option exercise13K
2025-12-11Cramer Pamela J.Sell3.4K$111.00
2025-12-11Cramer Pamela J.Option exercise3.4K$27.35
2025-11-20Cramer Pamela J.Option exercise3.4K$27.35
2025-11-20Cramer Pamela J.Sell3.4K$105.00
2025-11-10Cramer Pamela J.Option exercise3.5K$6.80
2025-11-10Cramer Pamela J.Sell3.5K$100.00
2025-11-07Cramer Pamela J.Sell19K$98.82
2025-11-07Cramer Pamela J.Option exercise8.8K$19.02
2025-11-07Cramer Pamela J.Option exercise11K$6.80
2025-10-30Shulman JosephOption exercise9.7K$30.66
2025-10-30Shulman JosephSell9.7K$115.24
2025-10-28Shulman JosephOption exercise2.1K$27.35
2025-10-28Shulman JosephOption exercise721$30.66
2025-10-28Shulman JosephSell2.8K$115.01
2025-10-16Shulman JosephSell8.3K$112.06
2025-10-16Shulman JosephOption exercise2.1K$27.35
2025-10-16Shulman JosephOption exercise12K$30.66
2025-10-16Shulman JosephSell2.7K$110.95
2025-10-16Shulman JosephSell3.4K$112.81
2025-09-02Shulman JosephOption exercise2.1K$27.35
2025-09-02Shulman JosephOption exercise15K$30.66
2025-09-02Shulman JosephSell17K$105.30
2025-08-21Shulman JosephOption exercise4.2K$27.35
2025-08-21Shulman JosephSell4.2K$100.07
2025-08-13Smith Hunter CSell3.5K$96.00
2025-08-13Smith Hunter COption exercise3.5K$6.88
2025-08-12Smith Hunter CSell25K$96.33
2025-08-12Smith Hunter COption exercise25K$6.88
2025-08-12German Christopher PaulOption exercise1.0K$17.97
2025-08-12German Christopher PaulOption exercise500$49.23
2025-08-12German Christopher PaulSell1.5K$95.00
2025-08-11Shulman JosephOption exercise4.0K$6.80
2025-08-11Shulman JosephSell4.0K$90.08
2025-07-29Cramer Pamela J.Sell1.5K$85.93
2025-07-26Cramer Pamela J.Option exercise3.1K
2025-07-09German Christopher PaulOption exercise850$49.23
2025-07-09Smith Hunter COption exercise42K$6.88
2025-07-09Smith Hunter CSell17K$75.38
2025-07-09Smith Hunter CSell1.6K$76.17
2025-07-09Smith Hunter CSell23K$84.50
2025-07-09Shulman JosephOption exercise8.0K$6.80
2025-07-09Shulman JosephSell4.0K$75.56
2025-07-09Shulman JosephSell4.0K$80.00
2025-07-09German Christopher PaulOption exercise2.0K$17.97
2025-07-09German Christopher PaulSell2.0K$76.75
2025-07-09German Christopher PaulSell1.9K$85.00
2025-07-09Cramer Pamela J.Option exercise11K$6.80
2025-07-09Cramer Pamela J.Option exercise5.0K$27.35
2025-07-09Cramer Pamela J.Sell4.2K$75.55
2025-07-09Cramer Pamela J.Sell7.8K$76.69
2025-07-09Cramer Pamela J.Sell3.5K$80.00
2025-07-07Smith Hunter COption exercise7.0K$6.88
2025-07-02Garfield AlastairSell1.3K$64.81
2025-07-02Garfield AlastairSell6$64.60
2025-07-01Garfield AlastairOption exercise4.4K
2025-06-18Arbuckle Stuart AOption exercise4.0K
2025-06-18MCGIRR DAVID W JOption exercise4.0K
2025-06-18TETRAULT LYNN A.Option exercise4.0K
2025-06-18Mathers Edward TOption exercise4.0K
2025-06-18JEAN CHRISTOPHEOption exercise4.0K
2025-06-18GOOD JENNIFER LOption exercise4.0K
2025-06-18Bedrosian Camille LOption exercise4.0K
2025-06-10German Christopher PaulOption exercise1.1K$17.97
2025-06-10German Christopher PaulSell2.1K$67.19
2025-06-06Cramer Pamela J.Option exercise7.0K$6.80
2025-06-06Cramer Pamela J.Sell7.0K$68.05
2025-06-03MCGIRR DAVID W JOption exercise65K$4.59
2025-06-03MCGIRR DAVID W JSell56K$65.15
2025-06-03MCGIRR DAVID W JSell9.9K$65.64
2025-06-03Meeker David POption exercise44K$4.59
2025-06-03Meeker David PSell43K$65.04
2025-06-03Meeker David PSell274$65.60
2025-05-30Smith Hunter COption exercise23K$6.88
2025-05-30Smith Hunter CSell4.4K$60.93
2025-05-30Smith Hunter CSell19K$61.52
2025-04-29Cramer Pamela J.Option exercise7.0K$6.80
2025-04-29Cramer Pamela J.Sell7.0K$65.09
2025-04-29Mazabraud YannSell6.7K$65.08
2025-04-15Mazabraud YannOption exercise11K
2025-04-14Mazabraud YannOption exercise10K
2025-04-08Cramer Pamela J.Sell7.0K$62.00
2025-04-08Mazabraud YannSell8.4K$60.37
2025-04-08Mazabraud YannSell9.3K$61.54
2025-04-08Cramer Pamela J.Sell6.7K$60.00
2025-04-08Cramer Pamela J.Option exercise14K$6.80
2025-04-08Cramer Pamela J.Option exercise6.7K$27.35
2025-04-08Cramer Pamela J.Sell6.4K$58.36
2025-04-08Cramer Pamela J.Sell600$59.00
2025-03-21German Christopher PaulSell344$54.23
2025-03-20German Christopher PaulOption exercise1.2K
2025-03-14Mazabraud YannOption exercise75K$22.28
2025-03-14Mazabraud YannSell19K$50.79
2025-03-14Mazabraud YannSell56K$51.72
2025-02-19Meeker David PSell9.9K$57.22
2025-02-19Smith Hunter CSell2.2K$57.22
2025-02-19Shulman JosephSell1.2K$57.22
2025-02-19Lee Jennifer KaydenSell2.0K$57.22
2025-02-19German Christopher PaulSell635$57.22
2025-02-19Cramer Pamela J.Sell982$57.22
2025-02-16Mazabraud YannOption exercise5.5K
2025-02-16Lee Jennifer KaydenOption exercise5.5K
2025-02-16Smith Hunter COption exercise6.6K
2025-02-16German Christopher PaulOption exercise1.8K
2025-02-16Meeker David POption exercise21K
2025-02-16Cramer Pamela J.Option exercise3.3K
2025-02-16Shulman JosephOption exercise4.1K
2025-02-13Lee Jennifer KaydenSell1.2K$58.00
2025-02-12Smith Hunter CSell12$56.22
2025-02-12Shulman JosephSell462$56.39
2025-02-12Shulman JosephSell7$57.09
2025-02-12Lee Jennifer KaydenSell600$56.39
2025-02-12Lee Jennifer KaydenSell10$56.41
2025-02-12Lee Jennifer KaydenSell1.2K$56.39
2025-02-12Smith Hunter CSell739$56.39
2025-02-11Cramer Pamela J.Sell3$57.54
2025-02-11Shulman JosephOption exercise1.6K
2025-02-11Shulman JosephSell791$57.51
2025-02-11Shulman JosephSell3$57.54
2025-02-11Lee Jennifer KaydenOption exercise2.0K
2025-02-11Lee Jennifer KaydenSell1.0K$57.51
2025-02-11Lee Jennifer KaydenSell4$57.50
2025-02-11Cramer Pamela J.Sell698$57.51
2025-02-11Smith Hunter COption exercise2.3K
2025-02-11Smith Hunter CSell1.3K$57.51
2025-02-11Smith Hunter CSell5$57.53
2025-02-10Lee Jennifer KaydenSell1.9K$58.39
2025-02-10Lee Jennifer KaydenSell2.3K$59.34
2025-02-09Smith Hunter COption exercise4.1K
2025-02-09Lee Jennifer KaydenOption exercise3.4K
2025-02-09Cramer Pamela J.Option exercise2.3K
2025-02-09Shulman JosephOption exercise2.7K
2025-02-09Lee Jennifer KaydenOption exercise4.2K$6.80
2025-02-05Lee Jennifer KaydenSell1.7K$60.08
2025-02-05Lee Jennifer KaydenSell200$61.95
2025-02-05Lee Jennifer KaydenSell1.1K$61.01
2025-02-04Meeker David PSell4.3K$59.43
2025-02-04Cramer Pamela J.Sell902$59.43
2025-02-04Lee Jennifer KaydenSell1.4K$59.43
2025-02-04Smith Hunter CSell1.7K$59.43
2025-02-04Shulman JosephSell1.3K$59.43
2025-02-01Smith Hunter COption exercise4.9K
2025-02-01Cramer Pamela J.Option exercise2.6K
2025-02-01Lee Jennifer KaydenOption exercise4.5K
2025-02-01Meeker David POption exercise14K
2025-02-01Shulman JosephOption exercise3.9K

All non-derivative Form 4 activity (SEC), newest first.

Clinical trials

TrialTitlePhaseStatusPrimary completion
NCT07156578 ↗A Long-Term Study of Bivamelagon in Participants With Hypothalamic Obesity (HO)
Hypothalamic Obesity
PHASE2Enrolling By Invitation2028-04-15
NCT06239116 ↗A Study of RM-718 in Healthy Subjects and Patients With MC4R Pathway Impairment
Hypothalamic Obesity, Prader-Willi Syndrome
PHASE1/PHASE2Recruiting2027-11-01
NCT06596135 ↗Open-Label Extension Study of Setmelanotide
Obesity Associated With Defects in Leptin-melanocortin Pathway
PHASE3Enrolling By Invitation2027-10-30
NCT06760546 ↗A Trial of Setmelanotide in Patients With Congenital Hypothalamic Obesity (Sub-study of NCT05774756)
Hypothalamic Obesity, Multiple Pituitary Hormone Deficiency Genetic Form
PHASE3Recruiting2027-03-13
NCT06772597 ↗A Study of Setmelanotide in Patients With Prader-Willi Syndrome
Prader-Willi Syndrome, Obesity
PHASE2Active Not Recruiting2026-10-31
NCT05093634 ↗EMANATE: A Study of Setmelanotide in Patients With Specific Gene Variants in the MC4R Pathway
Obesity, Genetic Obesity
PHASE3Active Not Recruiting2025-12-22
NCT05774756 ↗A Trial of Setmelanotide in Acquired Hypothalamic Obesity
Hypothalamic Obesity
PHASE3Active Not Recruiting2025-03-18
NCT06046443 ↗A Study to Assess Efficacy and Safety of LB54640 in Patients With Hypothalamic Obesity
Hypothalamic Obesity
PHASE2Completed2026-02-09
NCT03651765 ↗Long Term Extension Trial of Setmelanotide
Obesity Associated With Defects in Leptin-melanocortin Pathway
PHASE2/PHASE3Completed2025-01-09
NCT05194124 ↗Phase 3 Crossover Trial of Two Formulations of Setmelanotide in Participants With Specific Gene Defects in the MC4R Pathway
Bardet-Biedl Syndrome, POMC Deficiency
PHASE3Completed2023-10-19
NCT04966741 ↗Setmelanotide in Pediatric Participants With Rare Genetic Diseases of Obesity
Bardet-Biedl Syndrome, POMC Deficiency Obesity
PHASE3Completed2023-09-18
NCT04963231 ↗DAYBREAK: A Study of Setmelanotide in Participants With Specific Gene Variants in the Melanocortin-4 Receptor (MC4R) Pathway
Genetic Obesity
PHASE2Completed2023-08-04
NCT04725240 ↗Open-Label Study of Setmelanotide in Hypothalamic Obesity
Hypothalamic Obesity
PHASE2Completed2022-06-28
NCT05046132 ↗Study of Setmelanotide Effects on QTc (Corrected QT) Interval in Healthy Participants
Healthy
PHASE4Completed2022-04-07
NCT03013543 ↗Setmelanotide Phase 2 Treatment Trial in Participants With Rare Genetic Disorders of Obesity
Genetic Obesity, Obesity
PHASE2Completed2022-03-01
NCT04348175 ↗A Phase 1 Study to Evaluate the Pharmacokinetics of Setmelanotide in Subjects With Varying Degrees of Renal Impairment
Renal Insufficiency
PHASE1Completed2021-04-17
NCT03621007 ↗An Observational,Prospective Natural History Study of Early-Onset Extreme Obesity Due to Bi-Allelic Loss-of-Function Mutations in the POMC, PCSK1 or LEPR Genes
POMC Deficiency Obesity, PCSK1 Deficiency Obesity
Completed2021-01-22
NCT03479437 ↗The TEMPO (Tracing the Effect of the MC4 Pathway in Obesity) Registry
Genetic Forms of Extreme Obesity
Completed2020-12-01
NCT03746522 ↗Setmelanotide (RM-493), Melanocortin-4 Receptor (MC4R) Agonist, in Bardet-Biedl Syndrome (BBS) and Alström Syndrome (AS) Participants With Moderate to Severe Obesity
Bardet Biedl Syndrome (BBS), Alström Syndrome (AS)
PHASE3Completed2020-11-16
NCT03287960 ↗Setmelanotide for the Treatment of Leptin Receptor (LEPR) Deficiency Obesity
Leptin Receptor Deficiency Obesity
PHASE3Completed2020-09-25

Source: ClinicalTrials.gov (U.S. NIH) · active studies first.

Notable events (8-K)

DateItems
2026-06-25Shareholder votefiling ↗
2026-06-15Reg FDOtherExhibitsfiling ↗
2026-05-05ResultsExhibitsfiling ↗
2026-04-03Exec/director changeReg FDExhibitsfiling ↗
2026-03-26Reg FDOtherExhibitsfiling ↗
2026-03-20Reg FDOtherExhibitsfiling ↗
2026-03-16Reg FDOtherExhibitsfiling ↗
2026-03-02Reg FDOtherExhibitsfiling ↗

Recent filings

FormFiledPeriodAccession
8-K2026-06-252026-06-240001628280-26-045569 ↗
8-K2026-06-152026-06-130001628280-26-043170 ↗
10-Q2026-05-052026-03-310001628280-26-030549 ↗
8-K2026-05-052026-05-050001628280-26-030136 ↗
8-K2026-04-032026-04-010001628280-26-023606 ↗
8-K2026-03-262026-03-260001628280-26-021414 ↗
8-K2026-03-202026-03-190001628280-26-019995 ↗
8-K2026-03-162026-03-160001628280-26-018211 ↗
8-K2026-03-022026-03-020001104659-26-021801 ↗
10-K2026-02-262025-12-310001628280-26-012399 ↗
8-K2026-02-262026-02-260001628280-26-011987 ↗
8-K2026-01-092026-01-090001628280-26-001459 ↗