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Rhythm Biosciences Ltd.
(Sydney:RHY)
Rhythm Biosciences Ltd. (RHY) vs. iShares MSCI Australia ETF (EWA)
Rhythm Biosciences Ltd. Business Overview & Revenue Model
Rhythm Biosciences Ltd. Financial Statement Overview
| Breakdown | TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.59M | 1.69M | 3.10M | 2.43M | 1.11M | 100.00K |
| Gross Profit | 4.02M | -1.36M | 2.91M | 2.33M | 961.86K | -41.29K |
| EBITDA | -2.02M | -6.80M | -11.11M | -11.10M | -6.46M | -3.87M |
| Net Income | -2.18M | -6.86M | -8.22M | -8.79M | -6.61M | -4.02M |
Balance Sheet | ||||||
| Total Assets | 5.93M | 1.52M | 7.70M | 8.44M | 3.07M | 2.65M |
| Cash, Cash Equivalents and Short-Term Investments | 4.45M | 754.50K | 4.17M | 7.60M | 2.27M | 1.84M |
| Total Debt | 158.66K | 163.82K | 84.61K | 170.14K | 0.00 | 42.44K |
| Total Liabilities | 1.05M | 651.54K | 1.82M | 1.07M | 1.36M | 802.85K |
| Stockholders Equity | 4.88M | 867.17K | 5.87M | 7.37M | 1.71M | 1.84M |
Cash Flow | ||||||
| Free Cash Flow | -2.12M | -6.22M | -7.06M | -6.24M | -5.47M | -2.79M |
| Operating Cash Flow | -2.12M | -6.14M | -6.96M | -6.21M | -5.40M | -2.74M |
| Investing Cash Flow | -561.35K | -82.28K | -99.12K | -27.01K | -68.27K | -45.53K |
| Financing Cash Flow | 5.83M | 2.80M | 3.63M | 11.85M | 5.90M | -142.22K |
Rhythm Biosciences Ltd. Technical Analysis
Rhythm Biosciences Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
46 Neutral | C$194.71M | -4.33 | -8.58% | 2.64% | 13.66% | -0.73% | |
41 Neutral | AU$17.42M | ― | -71.10% | ― | ― | 76.17% | |
| $3.71M | ― | -181.97% | ― | ― | ― | ||
45 Neutral | AU$20.21M | ― | -51.49% | ― | 80.84% | 57.59% | |
45 Neutral | AU$82.91M | ― | -47.52% | ― | 44.61% | 16.40% | |
45 Neutral | AU$41.30M | ― | -39.07% | ― | 26.07% | 0.85% | |
40 Neutral | AU$24.15M | ― | -104.23% | ― | ― | -17.26% |
Rhythm Biosciences Ltd. Corporate Events
Rhythm Biosciences Ltd. has experienced a change in the interests of its substantial holder, FIL Limited, which has increased its voting power from 6.04% to 7.11%. This change reflects FIL’s continued investment in the company through multiple stock purchases over several months, indicating confidence in Rhythm Biosciences’ future prospects. The increase in voting power could potentially influence company decisions and strategies, impacting stakeholders and the company’s market positioning.
Rhythm Biosciences Ltd has secured $1 million in non-dilutive funding from Endpoints Capital, backed by its Research and Development Tax Incentive. This funding will support the company’s operations, including the commercial launch of the updated ColoSTAT® assay and expansion of the geneType™ product line. The financial boost is seen as a vote of confidence in Rhythm’s R&D efforts and is expected to accelerate the company’s progress in achieving key milestones, potentially enhancing its market position in the cancer diagnostics industry.
Rhythm Biosciences Ltd has successfully reinstated NATA accreditation for its geneType cancer risk assessment portfolio, following the acquisition of Genetype assets from Genetic Technologies Ltd. This milestone is pivotal for the company’s ColoSTAT® commercialisation strategy, allowing it to progress as an in-house in vitro diagnostic (IVD) and generate real-world data, essential for its global commercialization efforts.
Rhythm Biosciences Ltd announced a leadership transition as part of its long-term succession strategy, with Mr. Gavin Fox-Smith set to become the Chairman of the Board following Mr. Otto Buttula’s retirement at the 2025 AGM. This transition is expected to drive the company’s strategic execution and unlock further value for shareholders, as the company continues to expand its diagnostic product offerings and partnerships, positioning itself for sustainable growth in the cancer diagnostics industry.
Rhythm Biosciences Ltd. has announced the commercial availability of its geneType product and anticipates the launch of ColoSTAT in the second half of 2025. These products, protected by patents, are designed for easy adoption in routine laboratories and represent a significant advancement in cancer risk assessment and detection, potentially impacting the company’s market positioning and offering valuable solutions to stakeholders.
Rhythm Biosciences Ltd has announced the publication of a peer-reviewed study in PLoS One, detailing an enhanced colorectal cancer risk assessment model. This new model, an extension of the geneType™ product line, incorporates sex-specific and additional risk factors, outperforming existing models. The study, which used data from nearly 400,000 individuals in the UK Biobank, highlights the model’s superior predictive ability and its potential for commercial clinical applications. The innovation underscores Rhythm’s commitment to advancing cancer risk prediction and improving stratified screening, positioning the company as a leader in predictive diagnostics technology.
Rhythm Biosciences Ltd announced the issuance of 483,871 ordinary shares without disclosure under Part 6D.2 of the Corporations Act. The company confirmed compliance with relevant provisions of the Corporations Act and stated that there is no excluded information to disclose. This issuance supports Rhythm’s ongoing efforts to enhance its market position in the medical diagnostics industry, particularly in the early detection of colorectal cancer through its ColoSTAT® Test-Kit. The test, which measures specific protein biomarkers, offers an alternative to current screening programs and aims to reduce mortality rates and healthcare costs associated with colorectal cancer.
Rhythm Biosciences Ltd. has announced the application for quotation of 483,871 ordinary fully paid securities on the Australian Securities Exchange (ASX), effective June 2, 2025. This move is part of previously announced transactions and could potentially enhance the company’s market presence and liquidity, impacting its operations and stakeholder interests positively.
Rhythm Biosciences Ltd. has released a presentation for an investor roadshow scheduled from June 2nd to 5th, 2025. The presentation is intended for general information purposes and cautions against reliance on forward-looking statements due to potential risks and uncertainties. This announcement underscores the company’s commitment to transparency with its stakeholders, although it highlights the inherent uncertainties in the biotechnology sector.
Rhythm Biosciences Ltd. has announced a proposed issue of 483,871 ordinary fully paid securities, with the issue date set for June 2, 2025. This move is part of a placement or other type of issue, which could potentially enhance the company’s capital structure, providing additional resources for its operations and strategic initiatives in the biotechnology sector.
Rhythm Biosciences Ltd has successfully completed the verification and validation of its second-generation ColoSTAT® assay Beta kits, marking a significant step towards commercialization. The optimized kits, designed for routine lab use, have demonstrated improved performance, reduced turnaround times, and cost efficiency. The company is now transitioning to the final manufacturing stage with its partner Quansys, aiming for commercial availability following further testing and accreditation. This advancement strengthens Rhythm’s position in the cancer diagnostics industry and promises to enhance colorectal cancer detection, potentially reducing mortality and healthcare costs.
Rhythm Biosciences Ltd has announced a 12-month contract through its subsidiary Genetype with the University of Melbourne to provide geneType™ Breast Cancer Risk assessment. This partnership aims to enhance breast cancer screening for Australian women aged 40-59 by integrating personalized risk assessment approaches, which align with national guidelines. The study will incorporate factors like family history, mammographic breast density, and polygenic risk scores, potentially setting a new standard for risk-stratified screening. This collaboration not only accelerates Genetype’s commercial growth but also strengthens its market position in predictive cancer diagnostics, offering significant implications for stakeholders by potentially improving the effectiveness of breast cancer screening and expanding the use of personalized risk models.
Rhythm Biosciences Ltd. announced the issuance of 401,716 unquoted securities, specifically options expiring on March 31, 2026, with an exercise price of $0.20. This issuance is part of previously announced transactions and is not intended to be quoted on the ASX. The move reflects the company’s ongoing strategic financial maneuvers to support its operations and growth within the biotechnology sector, potentially impacting its market positioning and stakeholder interests.
Rhythm Biosciences Ltd. announced a proposed issue of securities, specifically options expiring on March 31, 2026, with an exercise price of $0.20. This issuance, involving a total of 401,716 securities, is aimed at raising capital to support the company’s operational and strategic initiatives. The announcement reflects the company’s ongoing efforts to strengthen its financial position and enhance its market presence in the biotechnology sector.
Rhythm Biosciences Ltd has announced significant progress in its ColoSTAT® Beta kits, which are in the final verification phase and preparing for clinical validation. The company has also successfully integrated the Genetype business and relaunched the geneType™ product portfolio, achieving its first commercial sales. These developments, alongside strategic management enhancements, position Rhythm Biosciences to strengthen its operations and market presence, with expectations for further milestones in the upcoming quarters.
Rhythm Biosciences Ltd has successfully maintained its ISO 13485:2016 certification for the seventh consecutive year, with an extended scope that now includes hardware development as part of its ColoSTAT® system. This certification supports the company’s market entry strategy by enhancing regulatory approvals and market confidence, reinforcing its operational credibility, and validating its robust quality systems. The certification is crucial for the international launch of ColoSTAT® and the company’s ability to supply high-quality raw materials for in-house IVD applications.
Rhythm Biosciences Ltd. has announced the application for the quotation of new securities on the Australian Securities Exchange (ASX). The company is set to quote 33,333,331 options expiring on March 31, 2026, as part of previously announced transactions. This move could potentially enhance the company’s financial flexibility and support its ongoing projects in the biotechnology sector.
Rhythm Biosciences Ltd. has seen a change in its substantial holdings, with FIL Limited increasing its voting power from 5.04% to 6.04% as of April 4, 2025. This increase in shares reflects a strategic move by FIL Limited, potentially signaling confidence in Rhythm Biosciences’ market position and future prospects, which could have implications for stakeholders and the company’s operations.