Why the Rhythm (ASX:RHY) share price again reached a new all-time record today

It seems like Rhythm Biosciences Ltd (ASX: RHY) can do no wrong by investors at the moment. Today, the company’s shares have risen to another all-time high record following the update on the initial manufacturing of ColoSTAT.

During early morning trade, the Rhythm share price rose to an intraday high of $1.38. However, some profit taking have led its share to slightly retreat to, at the time of writing, $1.35, up 7.14%.

What’s driving the Rhythm share price to new highs?

The Rhythm share price is breaking new highs as investors are fighting to get a hold of its shares.

In its announcement, Rhythm advised that its global manufacturer, Biotem, has completed initial ColoSTAT prototype test kits. The small-scale production of…