Rhythm Pharmaceuticals, Inc. balance sheet

At the end of fiscal 2025, Rhythm Pharmaceuticals, Inc. had total assets of $480m, total liabilities of $210m and shareholders' equity of $139m. It held $54.3m in cash against $108m of debt: net debt of $53.9m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Rhythm Pharmaceuticals, Inc.: balance sheet, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	7	34	50	62	101	59	128	60	89	54	66
Receivables	—	—	—	—	—	1	6	15	19	26	40
Inventory	—	—	—	—	—	0	3	9	19	26	31
Total current assets	11	151	259	302	182	308	354	308	374	467	427
Total assets	12	152	260	309	187	330	382	333	392	480	437
Accounts payable	2	2	8	10	5	6	5	5	12	14	16
Deferred revenue (current)	—	—	—	—	—	7	1	1	1	0	0
Total current liabilities	5	7	14	24	18	43	40	55	116	106	124
Short-term debt	—	—	—	—	—	—	—	—	2	7	13
Long-term debt	—	—	—	—	—	—	—	106	108	101	93
Total debt	0	0	0	0	0	0	73	106	110	108	106
Total liabilities	5	7	14	28	21	45	118	163	228	210	220
Shareholders' equity	−33	145	246	281	167	284	264	170	22	139	103
Non-controlling interests and other (assets − liabilities − equity)	40	—	—	—	—	—	—	—	143	131	114
Net debt (negative = net cash)	−7	−34	−50	−62	−101	−59	−55	46	21	54	40
Shares outstanding	10m	—	34m	44m	44m	50m	57m	59m	62m	67m	69m

US$ millions unless shown otherwise. Fiscal quarters.

Rhythm Pharmaceuticals, Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	19	19	18	26	33	26	34	40
Inventory	14	19	19	19	22	26	29	31
Total current assets	340	374	369	361	495	467	430	427
Total assets	364	392	387	373	507	480	442	437
Accounts payable	5	12	12	16	14	14	12	16
Deferred revenue (current)	1	1	1	—	—	0	0	0
Total current liabilities	98	116	112	129	104	106	103	124
Short-term debt	—	2	2	4	6	7	10	13
Long-term debt	—	108	108	106	103	101	98	93
Total debt	—	110	110	110	109	108	108	106
Total liabilities	211	228	224	239	211	210	205	220
Shareholders' equity	11	22	19	−12	149	139	123	103
Non-controlling interests and other (assets − liabilities − equity)	141	143	144	145	147	131	115	114
Shares outstanding	61m	62m	63m	64m	67m	67m	68m	69m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Rhythm Pharmaceuticals, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Rhythm Pharmaceuticals, Inc.