RYTM at a glance
RHYTHM PHARMACEUTICALS, INC. (RYTM, SEC CIK 1649904) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on August 4, 2026 and Form 4 insider filings as recently as September 14, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), RHYTHM PHARMACEUTICALS, INC. (RYTM) reported revenue of $189.8 million (up 45.8% from FY2024) and a net loss of $196.5 million. Diluted EPS was -$3.11.
- As of June 30, 2026, 33 institutional investment managers tracked by SignalX reported holding RHYTHM PHARMACEUTICALS, INC. (RYTM) shares worth $3.2 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Meeker David P on September 14, 2026 of 2,300 shares at $105.19 per share.
- In the last 90 days, RYTM insiders reported 0 open-market purchases ($0) and 20 open-market sales ($28.8M) on Form 4, a net sale of $28.8M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $189.8M
- +45.8% vs prior year
- Insiders · 90 days
- 0 buys · 20 sells
- Net −$28.8M
- 13F holders
- 33 funds
- $3.2B · +1 vs prior quarter
- Latest 8-K
- Aug 4, 2026
- Item 2.02 · Item 7.01 · Item 8.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Development and commercialization of MC4R agonist therapies to treat rare neuroendocrine diseases causing severe obesity and hyperphagia
- New product focus: Anticipated 2026 US launch of IMCIVREE for acquired hypothalamic obesity, plus Phase 3 trial initiation for oral MC4R agonist bivamelagon
- Strategic shift: Expanded pipeline with second-generation MC4R agonists (bivamelagon, RM-718) and emphasis on congenital hypothalamic obesity and Prader-Willi syndrome (PWS)
- Quantitative highlight: 414 employees globally as of February 2026; Phase 3 EMANATE trial topline data expected March 2026 across four rare MC4R genetic disorders
- Noteworthy fact: IMCIVREE approved in 25+ countries; pivotal Phase 3 trial shows 19.8% placebo-adjusted BMI reduction in acquired hypothalamic obesity, addressing a 10,000-patient US population unmet need
Risk Factors
- Regulatory risk from FDA, EC, MHRA approvals for setmelanotide expansion delays or denials impacting U.S., Canada, EU, UK launch
- Geopolitical risk due to European operations and recent acquisition of Netherlands-based Xinvento B.V., with CHI program still in discovery phase
- Operational risk from early-stage commercial manufacturing scale-up or reliance on third-party manufacturers for setmelanotide
- Competitive risk from other MC4R pathway therapies and development of RM-718 and bivamelagon, new selective MC4R agonists in clinical trials
- Financial risk from $100M Revenue Interest Financing Agreement requiring up to 11.5% royalties on first $125M net revenues, with payment obligations through 2029
Management Discussion & Analysis
- Revenue $422.5M to date from IMCIVREE product sales; commercial launch in US Q1 2021, France March 2022, ongoing growth expected
- Net loss $196.5M in 2025 vs $260.6M in 2024; operating expenses increased with R&D down to $167.3M from $238M, SG&A up to $194.9M from $144.3M
- R&D expenses $167.3M in 2025, decreased from $237.9M in 2024; SG&A expenses $194.9M in 2025, increased from $144.3M in 2024
- Cash and short-term investments approx. $388.9M as of Dec 31, 2025; expected to fund operations for at least 24 months; no specific buybacks or dividends disclosed
- Forward outlook: FDA PDUFA date for bivamelagon in acquired HO March 20, 2026; topline EMANATE Phase 3 data expected March 2026; expansion into PWS and Japan markets anticipated
AI summary of the RYTM 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Product revenue $71.3M in Q2 2026, up 19% sequentially; no year-ago quarterly revenue disclosed
- U.S. revenue $51.0M, up $14.1M or 38% sequentially; ex-U.S. revenue $20.3M, down $2.9M or 13%
- Net loss $49.3M vs $46.6M YoY; operating-margin percentages not disclosed
- Cash, cash equivalents and short-term investments $330.9M at June 30, 2026; expected funding for at least 24 months
- Near-term milestones: Japan launch by year-end 2026, bivamelagon Phase 3 initiation by year-end 2026, Europe launches beginning 2027
Risk Factors
- Newly triggered CHI-program risk: February 2023 Xinvento acquisition remains discovery-stage, with no expected revenue for many years
- Most material financial update: continued losses, including $49.3 million quarterly net loss and $1,456.8 million accumulated deficit
- Regulatory risk: later-stage setmelanotide trials may fail to replicate earlier results, jeopardizing additional indications and approvals
- Near-term commercial risk: IMCIVREE commercialization remains early-stage across the United States, Canada, EU, and United Kingdom
- Liquidity risk: $330.9 million cash and investments may require supplementation as development and commercialization expenses increase
AI summary of the RYTM 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- August 4, 2026 filing references two press releases and an investor presentation covering fiscal-year 2026 results
- Financial and operating details reside in Exhibits 99.1–99.3, requiring review for revenue, earnings, guidance, and pipeline updates
Item 7.01: Regulation FD Disclosure
- Preliminary Phase 2 RM-718 data in acquired hypothalamic obesity, an obesity-related indication
- Ongoing trial update; findings remain preliminary and may change as enrollment and follow-up continue
Item 8.01: Other Events
- Preliminary Phase 2 data: RM-718 reduced mean BMI 11.6% at 16 weeks in acquired hypothalamic obesity patients
- Efficacy comparable to bivamelagon and setmelanotide benchmarks, each showing 10.1% mean BMI reduction
Item 5.07: Submission of Matters to a Vote of Security Holders
- 92% turnout: 64,146,146 of 69,675,938 eligible votes represented
- David W. J. McGirr and David P. Meeker, MD elected as Class III directors through 2029
Item 7.01: Regulation FD Disclosure
- Interim six-month data from exploratory Phase 2 setmelanotide trial in Prader-Willi syndrome patients
- Disclosure dated June 13, 2026, via press release and investor presentation
Item EX-99.1: Item EX-99.1
- Phase 2 interim data support setmelanotide’s potential in PWS, strengthening the case for Phase 3 development
- At Month 6, 17 patients achieved a mean BMI reduction of 3.06%; trial remains ongoing through 52 weeks
Item 8.01: Other Events
- PWS Phase 2 data showed −3.06% mean BMI reduction at Month 6 across 17 patients, with 8 of 10 hyperphagic patients improving ≥7 HQ-CT points
- Pediatric PWS results included −0.35 BMI z-score change, with 5 of 7 achieving clinically meaningful reductions
AI summaries of RYTM 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for RYTM
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Meeker David P | Sell | Sep 14, 2026 | 2,300 | $105.19 |
| Meeker David P | Sell | Sep 14, 2026 | 8,698 | $103.43 |
| Meeker David P | Sell | Sep 14, 2026 | 1,817 | $104.55 |
| Meeker David P | M | Sep 14, 2026 | 50,000 | - |
| Meeker David P | Sell | Sep 14, 2026 | 6,439 | $101.75 |
| Meeker David P | M | Sep 14, 2026 | 50,000 | $6.05 |
| Meeker David P | Sell | Sep 14, 2026 | 30,746 | $102.35 |
| Smith Hunter C | M | Aug 31, 2026 | 57,187 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $130.1M | $189.8M |
| Operating Income | - | -$265.5M | -$192.0M |
| Net Income | -$184.7M | -$260.6M | -$196.5M |
| Op. Margin | - | -204.0% | -101.2% |
| Net Margin | - | -200.3% | -103.6% |
| Balance Sheet | |||
| Total Assets | $332.7M | $392.3M | $480.2M |
| Equity | - | $21.7M | $139.1M |
| ROE | - | -1199.3% | -141.3% |
| Per Share | |||
| EPS | $-3.20 | $-4.34 | $-3.11 |
| Cash Flow | |||
| Operating CF | - | -$113.9M | -$115.7M |
| CapEx | $47K | $0 | $953K |
Source: XBRL data in RHYTHM PHARMACEUTICALS, INC. (RYTM)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate RYTM share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 33 | $3.24B |
| Q1 2026 | 32 | $2.36B |
| Q4 2025 | 27 | $2.62B |
| Q3 2025 | 27 | $2.48B |
| Q2 2025 | 26 | $1.30B |
| Q1 2025 | 22 | $607.3M |
| Q4 2024 | 18 | $395.1M |
| Q3 2024 | 15 | $183.3M |
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- Millennium Management−135.1K (-30%)
- Blackstone Group−2.6K
Source: 13F-HR filings on SEC EDGAR (aggregated from 200 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
RYTM filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 4 | Aug 18, 2026 | - | - | - |
| 4 | Aug 17, 2026 | - | - | - |
| 4 | Aug 17, 2026 | - | - | - |
| 4 | Aug 14, 2026 | - | - | - |
| 4 | Aug 14, 2026 | - | - | - |
| 8-K | Aug 4, 2026 | - | Analysis | - |
| 10-Q | Aug 4, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 8-K | Jun 25, 2026 | - | Analysis | - |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 24, 2026 | - | - | - |
| 8-K | Jun 15, 2026 | - | Analysis | - |
| 4 | May 20, 2026 | - | - | |
| 8-K | May 5, 2026 | - | Analysis | - |
| 10-Q | May 5, 2026 | Mar 31, 2026 | Analysis | |
| SC 13G | Apr 30, 2026 | - | - | |
| 8-K | Apr 3, 2026 | - | Analysis | - |
| 8-K | Mar 26, 2026 | - | - | - |
| 8-K | Mar 20, 2026 | - | - | - |
| 8-K | Mar 16, 2026 | - | Analysis | - |
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RYTM SEC filings: frequently asked questions
Are RYTM insiders buying or selling?
In the last 90 days, RHYTHM PHARMACEUTICALS, INC. (RYTM) officers, directors and 10% owners reported no open-market purchases and 20 open-market sales worth $28.8 million by 6 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold RYTM stock?
As of June 30, 2026, the largest RHYTHM PHARMACEUTICALS, INC. (RYTM) holders among the 13F filers tracked by SignalX were BlackRock ($683.6 million), Vanguard Portfolio Management LLC ($348.3 million), Vanguard Capital Management LLC ($333.8 million), JPMorgan Chase & Co ($292.2 million), State Street Corp ($285.7 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was RYTM's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), RHYTHM PHARMACEUTICALS, INC. (RYTM) reported revenue of $189.8 million (up 45.8% from FY2024) and a net loss of $196.5 million. Diluted EPS was -$3.11. The figures come from the XBRL data in the 10-K.
What are the main risks in RYTM's latest 10-K?
In the 10-K filed February 26, 2026, RHYTHM PHARMACEUTICALS, INC. (RYTM) flagged: Regulatory risk from FDA, EC, MHRA approvals for setmelanotide expansion delays or denials impacting U.S., Canada, EU, UK launch. Geopolitical risk due to European operations and recent acquisition of Netherlands-based Xinvento B.V., with CHI program still in discovery phase. (AI summary of the Risk Factors section.)
What did RYTM report in its latest 8-K?
RHYTHM PHARMACEUTICALS, INC. (RYTM) filed an 8-K on August 4, 2026 reporting Item 2.02 (Results of Operations and Financial Condition), Item 7.01 (Regulation FD Disclosure) and Item 8.01 (Other Events). August 4, 2026 filing references two press releases and an investor presentation covering fiscal-year 2026 results.
What are the latest RYTM SEC filings?
RHYTHM PHARMACEUTICALS, INC. (RYTM) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on August 4, 2026 and a Form 4 insider filing on September 14, 2026.
What is RYTM's SEC CIK number?
RHYTHM PHARMACEUTICALS, INC. (RYTM)'s SEC Central Index Key (CIK) is 1649904. EDGAR lists every RYTM filing under that number.
Ask anything about RYTM
The research agent reads RYTM's filings, financials, insider trades and 13F holders, then answers with sources.