Rhythm Pharmaceuticals Reports Fourth Quarter 2023 Financial Results and Business Update
-- Acquired global rights to oral MC4R agonist LB54640 from LG Chem --
- ET --
BOSTON, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM), a global commercial-stage biopharmaceutical company focused on transforming the lives of patients and their families living with rare neuroendocrine diseases, today reported financial results and provided a business update for the fourth quarter and full year ended December 31, 2023. - Fourth Quarter and Full Year 2023 Financial Results:
Cash Position: As of December 31, 2023, cash, cash equivalents and short-term investments were approximately $275.8 million, as compared to $333.3 million as of December 31, 2022. - S,G&A Expenses: S,G&A expenses were $32.4 million in the fourth quarter of 2023 and $117.5 million for the year ended December 31, 2023, compared to $26.3 million in the fourth quarter of 2022 and $92.0 million for the year ended December 31, 2022.
- ET today to review its fourth quarter and year end 2023 financial results and recent business activities.