RYTM - Rhythm Pharmaceuticals reports misses Q1 top and bottom consensus; reaffirms FY23 outlook

2023-05-02 07:15:41 ET

• Rhythm Pharmaceuticals press release ( NASDAQ: RYTM ): Q1 GAAP EPS of -$0.92 misses by $0.21 .
• Revenue of $11.5M (+671.8% Y/Y) misses by $0.62M .
• As of March 31, 2023, cash, cash equivalents and short-term investments were approximately $294.6 million, as compared to $333.3 million as of December 31, 2022.
• Financial Guidance: For the year ending December 31, 2023, Rhythm continues to anticipate approximately $200 million to $220 million in Non-GAAP Operating Expenses , comprised of $120 million to $130 million from R&D expenses and $80 million to $90 million from S,G&A expenses.
• Based on its current operating plans, Rhythm expects that its existing cash, cash equivalents and short-term investments as of March 31, 2023 will be sufficient to fund its operating expenses and capital expenditure requirements into 2025.

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