Rhythm Pharma Q4 IMCIVREE rev $24.2M; reports material weakness in IT controls

RHYTHM PHARMACEUTICALS, INC.

2023-FY EPS reported -$3.20 revenue$77,428,000

Q4 2023 net product revenue $24.2M (FY2023 $77.4M) vs $8.8M Q4 2022; net loss $41.6M ($0.70/share).
Cash $275.8M at Dec 31, 2023; 2024 non-GAAP op expense guidance $250-270M.
Material weakness in IT general controls over user access and program change management expected in 10-K.
Completed enrollment in Phase 3 hypothalamic obesity trial (N=120); top-line data 1H2025.
Entered global licensing deal for oral MC4R agonist LB54640; IND accepted for RM-718.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RHYTHM PHARMACEUTICALS, INC. reported fourth quarter and full year ended December 31, 2023 results: revenue $24.2 million.

Period: fourth quarter and full year ended December 31, 2023
Revenue: $24.2 million
Result: reported results

Exact text from the filing

Rhythm Pharmaceuticals Reports Fourth Quarter 2023 Financial Results and Business Update -- Fourth quarter 2023 net revenue from global sales of IMCIVREE ® (setmelanotide) of $24.2 million -- -- Enrollment completed in 120-patient, pivotal cohort of Phase 3 setmelanotide trial in hypothalamic obesity; top-line data on track for 1H2025 -- -- Announced Phase 3

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Source: SEC EDGAR

accession 0001104659-24-026303

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