Here’s why the Rhythm Bioscience (ASX:RHY) share price is up 15% to a record high

The Rhythm Biosciences Ltd (ASX: RHY) share price has continued its positive run on Tuesday.

At one stage, the medical device company’s shares were up 15% to a record high of $1.30.

This is almost 1,000% higher than this time last year, making it a “ten-bagger” for investors.

Why is the Rhythm Biosciences share price on fire?

Investors have been buying the company’s shares since the release of two positive announcements in December.

The first announcement revealed that Rhythm Bioscience has appointed France-based Biotem as the global manufacturer of its ColoSTAT test-kit.

ColoSTAT is Rhythm’s lead product and is intended to be a simple, affordable, minimally invasive, and effective blood test for the early detection of…