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.
Rhythm Pharmaceuticals used this 8-K to highlight new clinical and real‑world data for its MC4R agonist portfolio, led by IMCIVREE (setmelanotide), in Prader‑Willi syndrome (PWS), acquired hypothalamic obesity (HO) and Bardet‑Biedl syndrome (BBS).
Interim six‑month results from an exploratory Phase 2 trial in 18 PWS patients showed a −3.06% mean BMI reduction at Month 6 among 17 treated patients, with adult and pediatric subgroups each around −3% and pediatric patients achieving a −0.35 mean BMI z‑score reduction. DEXA data in 16 patients showed a −4.19% mean fat‑mass loss with a +0.74% lean‑mass gain, while most patients with moderate to severe hyperphagia and elevated anxiety scores achieved clinically meaningful improvements. Safety and tolerability were consistent with the known setmelanotide profile.
Rhythm also updated its PWS epidemiology work, estimating 12,500–16,000 patients in each of the U.S. and Europe and 8,500–12,750 with both hyperphagia and obesity in each region. Additional ENDO 2026 presentations described an −18.9% mean BMI reduction over up to 2.5 years in acquired HO, one‑year oral bivamelagon BMI reductions of −6.7% to −16.6% across dose cohorts, and real‑world BBS data in 286 U.S. patients, where 62% of adults achieved at least 10% body‑weight loss and obesity‑related outpatient visits declined after treatment.
Rhythm Pharmaceuticals Chief Financial Officer Hunter C. Smith exercised stock options for 3,000 shares of Common Stock at an exercise price of $17.87 per share. This moved 3,000 shares from options into directly held stock, with no shares reported sold in this filing.
Following the transaction, Smith directly owns 119,611 shares of Common Stock and 79,000 stock options that remain outstanding and fully vested. The exercised options were already fully vested, indicating this was a routine conversion of derivative awards into common shares rather than an open-market purchase or sale.
Rhythm Pharmaceuticals Corporate Controller & CAO Christopher Paul German reported same-day option exercises and a share sale. He exercised stock options for an aggregate 4,442 shares of Common Stock at exercise prices of $17.97, $49.23, and $56.69 per share.
On May 15, 2026, he then completed an open-market sale of 4,643 Common Stock shares at an average price of $92.21 per share, leaving 0 shares of Common Stock held directly after the transactions. He continues to hold stock options, including 2,325, 2,701, and 3,713 options from grants made in 2023, 2024, and 2025, subject to the vesting schedules described.
Rhythm Pharmaceuticals amended a Schedule 13G to report beneficial ownership stakes held by Perceptive-affiliated entities and Joseph Edelman. The filing lists a combined 3,519,626 shares reported for Perceptive Advisors and shows the ownership percentages based on 68,532,607 shares outstanding as of May 1, 2026. The filing states the Master Fund directly holds 2,373,795 shares plus 416,666 shares issuable on conversion of Series A Convertible Preferred Stock, and Capital Solutions Holdings holds 729,165 shares issuable on conversion. The reported percentages are 5.1% for Perceptive Advisors and Mr. Edelman, 4.1% for the Master Fund, and 1.1% for Capital Solutions Holdings.
Rhythm Pharmaceuticals reported strong top-line growth but continued losses for the quarter ended March 31, 2026. Net product revenue rose to $60.1 million from $37.7 million, driven by IMCIVREE sales in the U.S. and internationally. Total revenue was $60.1 million after a prior-year license revenue reduction.
The company posted a net loss of $55.6 million, wider than $49.5 million a year earlier, with higher research and development and selling, general and administrative expenses. Cash, cash equivalents and short-term investments were $340.6 million, and management believes this will fund operations for at least the next 24 months. A deferred royalty obligation related to a royalty financing totaled $108.5 million, and Series A convertible preferred stock stood at $114.7 million. Common shares outstanding were 68.4 million as of March 31, 2026, with additional potential dilution from equity awards and convertible preferred stock.
Rhythm Pharmaceuticals reported strong commercial momentum in the first quarter of 2026 as it launched IMCIVREE for acquired hypothalamic obesity in the U.S. and secured European Commission Marketing Authorization for the same indication. More than 150 patient start forms were received in the first six weeks after U.S. FDA approval on March 19, 2026.
Net product revenue from global IMCIVREE sales reached $60.1 million for the quarter, up from $37.7 million a year earlier. Revenue of $36.9 million came from the U.S. and $23.2 million from outside the U.S. The company recorded a net loss attributable to common stockholders of $56.7 million, or $(0.83) per share.
Rhythm ended March 31, 2026 with $340.6 million in cash, cash equivalents and short-term investments and expects this to fund operations for at least 24 months. For full-year 2026, it projects $385–$415 million in Non-GAAP operating expenses as it advances setmelanotide, bivamelagon and RM-718 across multiple late-stage and early-stage trials.
Rhythm Pharmaceuticals Inc shows a Schedule 13G filing reporting that Vanguard Capital Management beneficially owned 3,432,949 shares of common stock, representing 5.02% of the outstanding class as of 03/31/2026.
The filing lists sole dispositive power over 3,432,949 shares and sole voting power for 465,124 shares. The report is signed by Vanguard's Head of Global Fund Administration on 04/30/2026.
Rhythm Pharmaceuticals is holding a virtual 2026 Annual Meeting on June 24, 2026 at 2:00 p.m. Eastern to vote on key governance matters. Stockholders will elect two Class III directors, ratify Ernst & Young LLP as auditor for 2026, and approve an advisory Say-on-Pay vote on executive compensation.
Holders of 68,530,107 shares of common stock as of April 27, 2026, and certain Series A Convertible Preferred Stock holders subject to conversion limits, may vote online, by phone, mail, or during the webcast. The company highlights its classified board, independent committees, and expanding ESG and human capital initiatives, including low 2025 employee turnover and recognition as a top workplace.
Rhythm Pharmaceuticals EVP exercises restricted stock units into shares
Executive Vice President and Head of International Yann Mazabraud exercised restricted stock units that convert into common stock of Rhythm Pharmaceuticals. On April 1, 2026, he converted 10,375 and 2,500 restricted stock units into common shares at an exercise price of $0.00 per share.
Following these derivative exercises, his direct holdings increased to 66,030 shares of common stock. Each restricted stock unit represents a contingent right to receive one share of common stock and vests in four annual installments between April 2024 and April 2028, with no expiration date stated for the units.