Rhythm Pharmaceuticals, Inc. (RYTM) Announced Q1 2026 Earnings on May 5, 2026, Reporting "Revenues for the quarter were $60 million."

Rhythm Pharmaceuticals reported "$60.1 million in global net revenues from sales of IMCIVREE" for the first quarter of 2026, which represents "5% sequential growth over Q4 2025." Gross to net for U.S. sales in Q1 was 84%, and cost of goods sold in this quarter was "11.9% of product revenue." The company reported a GAAP EPS for the first quarter of 2026 as a "net loss per basic and diluted share of $0.83" and ended the first quarter with "approximately $341 million in cash, cash equivalents and short-term investments."Management highlighted that the "U.S. commercial launch is off to a strong start," receiving "more than 150 start forms in the six weeks since approval." To support this, Rhythm expanded its commercial organization, "going from 16 sales reps for BBS to a total of 42 sales reps deployed across the country." Internationally, the "European Commission granted marketing authorization for IMCIVREE" for acquired hypothalamic obesity, and the PMDA in Japan "has accepted and is reviewing our NDA filing" for the same indication.

The company maintained guidance of "approximately $385 million to $415 million in non-GAAP operating expenses in fiscal year 2026." This is comprised of non-GAAP R&D of "approximately $197 million to $213 million" and non-GAAP SG&A expenses of "approximately $188 million to $202 million." Rhythm noted it is "aggressively pursuing our life cycle management strategy," anticipating "sharing 718 data midyear" and targeting the Q2 earnings call to share "Part C results in HO." The company also has a goal of being in a position to "start the Phase III trial with bivamelagon in HO by the end of 2026."