Rhythm discloses $3.4M in SVB deposits, 1.1% of total cash, after SVB closure

RHYTHM PHARMACEUTICALS, INC.

Approximately $3.4M held in deposit accounts at Silicon Valley Bank, representing 1.1% of total cash and equivalents.
SVB closed by California regulator; FDIC appointed as receiver on March 10, 2023.
Company states it has deposit accounts only, no other material exposure.
Total cash and cash equivalents of the company implied to be roughly $309M based on percentage.

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