Rhythm Pharmaceuticals Q2 net loss narrows on US launch demand

Rhythm Pharmaceuticals

04/08/2026 12:22

Overview
U.S. biopharma firm's Q2 net product revenue rose 47% yr/yr to $71.3 mln
Q2 net loss of $49.3 mln beat analyst expectations
Sequential revenue growth driven by strong U.S. launch for acquired hypothalamic obesity

Outlook
Company expects 2026 non-GAAP operating expenses of $363 mln to $397 mln
Rhythm anticipates IMCIVREE launch in Japan for acquired HO pending regulatory decision by year-end 2026
Company expects country-level IMCIVREE launches for acquired HO in Europe beginning in 2027

Result Drivers
U.S. LAUNCH DEMAND - Sequential U.S. revenue growth was driven by increased patient demand for IMCIVREE in acquired hypothalamic obesity and continued growth in Bardet-Biedl syndrome
PATIENT START FORMS - More than 400 patient start forms for IMCIVREE in acquired hypothalamic obesity received since FDA approval as of June 30, 2026
EX-U.S. REVENUE IMPACT - Ex-U.S. revenue declined sequentially due to a $3.8 mln retrospective charge in France, though reimbursed patient numbers continued to increase

Company press release: ID:nGNX8MRxVV

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Product Revenue
 
$71.26 mln
 
Q2 Net Loss
Beat
$49.30 mln
$55.52 mln (13 Analysts)
Q2 Operating Income
 
-$48.55 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Rhythm Pharmaceuticals Inc is $139.50, about 35.7% above its August 3 closing price of $102.78

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)