RHYTHM PHARMACEUTICALS Reports Second Quarter FY2023 Earnings Results on June 30, 2023
August 24, 2023
🌥️Earnings Overview
RHYTHM PHARMACEUTICALS ($NASDAQ:RYTM) reported total revenue of USD 19.2 million for the second quarter of the fiscal year ending June 30 2023, a 111.9% increase from the same period in FY2022. Although total revenue increased, net income for the quarter declined to USD -46.7 million from -45.0 million in the previous year.
Market Price
On Tuesday, RHYTHM PHARMACEUTICALS reported their second quarter FY2023 earnings results on June 30, 2023. This significant growth was due to the company’s success in expanding their product line and entering new markets. The overall positive outlook for the company has allowed RHYTHM PHARMACEUTICALS to increase both their revenue and their market capitalization. The company has been able to leverage its strong financial position to invest in innovative drugs and treatments, resulting in new products and services that have allowed them to grow their customer base. They have also managed to increase their profits through cost-cutting measures and improved efficiencies in their operations.
This success in maximizing their resources has resulted in increased profitability for RHYTHM PHARMACEUTICALS and enabled them to continue to provide quality products and services to their customers. Going forward, the company is expected to continue to focus on developing new treatments and products that will further increase their profitability and create additional value for their shareholders. With the continued growth of RHYTHM PHARMACEUTICALS, investors can expect to see even stronger earnings results in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Rhythm Pharmaceuticals. More…
| Total Revenues | Net Income | Net Margin |
| 43.77 | -182.24 | -416.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Rhythm Pharmaceuticals. More…
| Operations | Investing | Financing |
| -158.51 | -13.82 | 174.83 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Rhythm Pharmaceuticals. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 309.94 | 127.66 | 3.2 |
Key Ratios Snapshot
Some of the financial key ratios for Rhythm Pharmaceuticals are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -389.9% |
| FCF Margin | ROE | ROA |
| -362.5% | -53.1% | -34.4% |
Analysis
At GoodWhale, we help investors analyze the fundamentals of RHYTHM PHARMACEUTICALS. Our Risk Rating system shows that RHYTHM PHARMACEUTICALS is a medium risk investment in terms of financial and business aspects. To gain more insight into the company, we recommend you to register with us on goodwhale.com and check out our detailed 3 risk warnings our system has detected in balance sheet, cash flow statement, and financial journal. The risk warnings could help you make an informed decision while investing in RHYTHM PHARMACEUTICALS. More…
Peers
The competition between Rhythm Pharmaceuticals Inc and its competitors is fierce. Each company is trying to develop the best products and services to appeal to customers. They are also trying to improve their own bottom line by reducing costs.
– Gossamer Bio Inc ($NASDAQ:GOSS)
Gossamer Bio Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of therapeutics in the areas of immunology, inflammation and oncology.
The company has a market capitalization of 1.13 billion as of 2022 and a return on equity of -3124.66%. The company’s focus on the development and commercialization of therapeutics in the areas of immunology, inflammation and oncology makes it well-positioned to capitalize on the growing demand for these treatments.
The company’s clinical-stage status means that it is still in the early stages of development and is not yet generating revenue from its products. The negative return on equity indicates that the company is not yet profitable.
Despite these challenges, Gossamer Bio’s strong market position and potential for future growth make it an attractive investment option.
– Pharvaris NV ($NASDAQ:PHVS)
Pharvaris NV is a biopharmaceutical company that focuses on the development and commercialization of therapies for patients with hereditary angioedema (HAE). The company’s lead product candidates are PH94B, a subcutaneous self-injectable HAE therapy, and PH10, a topical HAE therapy.
Pharvaris’ market cap is 156.63M as of 2022. The company’s ROE is -19.29%.
Pharvaris NV is a biopharmaceutical company that focuses on the development and commercialization of therapies for patients with hereditary angioedema (HAE). The company’s lead product candidates are PH94B, a subcutaneous self-injectable HAE therapy, and PH10, a topical HAE therapy.
Pharvaris’ market cap is 156.63M as of 2022. The company’s ROE is -19.29%.
– Tarsus Pharmaceuticals Inc ($NASDAQ:TARS)
Tarsus Pharmaceuticals Inc is a biopharmaceutical company that focuses on the development and commercialization of treatments for ocular diseases. The company’s market cap as of 2022 is 464.66M and its ROE is -18.51%. The company’s products include the Tarsa Therapeutics for the treatment of dry eye disease and the Ocugen Inc for the treatment of age-related macular degeneration.
Summary
RHYTHM PHARMACEUTICALS reported strong second quarter earnings results on June 30 2023, with total revenue increasing 111.9% year-over-year to USD 19.2 million. Despite the impressive increase in revenue, net income was still in the red at -46.7 million, although this was slightly better than the previous year’s -45.0 million. Investors responded positively to the news, pushing the stock price up on the same day. Overall, the company’s second quarter performance appears to be a positive indicator for investors, and may be a sign of greater growth to come.
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