Rhythm Q3 Product Revenue Rises 29% Sequentially to $92.1 Million: More Than 700 U.S. Start Forms for IMCIVREE
Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM), the biopharmaceutical company headquartered in Boston, in Suffolk County, Massachusetts, reported third-quarter 2026 results on November 3: global net product revenue from IMCIVREE (setmelanotide) was $92.1 million, up 29% sequentially and versus $51.3 million a year earlier, with U.S. revenue of $67.5 million (73% of the total, up 32% sequentially) and ex-U.S. revenue of $24.7 million (up 22%). The net loss was $42.4 million, or $0.61 per share, versus a $54.3 million loss a year earlier.
Following U.S. Food and Drug Administration (FDA) approval on March 19, 2026 for acquired hypothalamic obesity (HO), the company had received more than 700 patient start forms from more than 500 prescribers as of September 30, and the number of patients on reimbursed therapy globally rose 20% sequentially. The drug's commercial launch in Japan began on October 13, following approvals in Japan and Canada. Nine-month net product revenue was $223.5 million, versus $137.5 million a year earlier; third-quarter R&D expenses were $52.5 million and SG&A expenses $66.8 million.
On November 2, the company amended its license agreement with LG Chem for bivamelagon, agreeing to fixed payments of $350 million over four years to reduce the royalty to 1%, and entered a five-year term loan facility providing access to up to $750 million, with an initial $250 million draw. Cash, cash equivalents and short-term investments were about $320.9 million as of September 30, which the company expects to fund operations for at least 24 months. Bivamelagon will advance into pivotal development in Prader-Willi syndrome, with a Phase 3 trial in acquired HO planned by year-end 2026.
Chairman and CEO David Meeker, M.D., said the strength of the U.S. launch through two quarters reinforced the significant unmet need in acquired HO, and called the Japan launch an important milestone in a market with the potential to become the company's second largest. Rhythm focuses on rare neuroendocrine diseases.
(Source: Rhythm Pharmaceuticals)
Source: Rhythm Pharmaceuticals
Published by GSM · USA (original Chinese edition)
Photo: 图：Rhythm 总部所在地 Boston 的 Back Bay 与 Charles River。King of Hearts 摄，CC BY-SA 4.0，经 Wikimedia Commons。 / Photo: Back Bay and the Charles River in Boston, home of Rhythm Pharmaceuticals. Photo by King of Hearts, CC BY-SA 4.0, via Wikimedia Commons.
