Welcome to our dedicated page for Rhythm Pharmaceuticals news (Ticker: RYTM), a resource for investors and traders seeking the latest updates and insights on Rhythm Pharmaceuticals stock.
Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM) is a commercial-stage biopharmaceutical company based in Boston, MA, focused on transforming the lives of patients and their families living with rare neuroendocrine diseases. The company's core mission is to develop and commercialize peptide therapeutics for treating gastrointestinal diseases and genetic deficiencies that result in metabolic disorders.
At the heart of Rhythm's portfolio is setmelanotide (IMCIVREE®), an MC4 receptor agonist designed to treat hyperphagia and severe obesity caused by specific genetic conditions. Setmelanotide is already approved by the U.S. Food and Drug Administration (FDA) for chronic weight management in adults and children aged 6 years and older with monogenic or syndromic obesity due to certain genetic deficiencies. The European Commission (EC) and the UK's Medicines & Healthcare Products Regulatory Agency (MHRA) have also authorized setmelanotide for the treatment of obesity and hunger control associated with Bardet-Biedl syndrome (BBS) and other genetic deficiencies.
Rhythm is advancing a broad clinical development program for setmelanotide, including ongoing global Phase 3 trials for hypothalamic obesity. Recent achievements include the addition of a cohort of Japanese patients to this trial, with dosing expected to begin in the third quarter of 2024. The company has enrolled 120 patients in its pivotal Phase 3 trial, aiming to achieve top-line results by the first half of 2025.
In addition to setmelanotide, Rhythm is also advancing investigational MC4R agonists, such as RM-718, which targets hyperphagia and severe obesity without causing hyperpigmentation. The company recently dosed the first patients in a Phase 1 clinical trial for RM-718 and is committed to exploring its potential benefits.
Financially, Rhythm Pharmaceuticals is well-positioned with proceeds from recent financing and existing cash on-hand expected to fund operations into 2026. The company's global reach includes generating revenues from the United States, Germany, and other countries, with the majority coming from the U.S.
For more information, visit Rhythm's Investor Relations page or contact their corporate communications team.
Rhythm Pharmaceuticals (Nasdaq: RYTM) has announced the promotions of key executives, including Joe Shulman to Chief Technical Officer, Patrick Kleyn, Ph.D., to Senior Vice President and Head of Translational Research and Development, and Elisabeth Crönert-Bendell, M.D., to Senior Vice President and Head of Strategy. These promotions aim to strengthen the company's leadership as it focuses on advancing its lead product, IMCIVREE (setmelanotide), approved for chronic weight management in rare genetic obesity diseases. IMCIVREE is the first FDA-approved therapy for these conditions.
Rhythm Pharmaceuticals (Nasdaq: RYTM) will host a live conference call on March 1, 2022, at 8:00 a.m. ET to discuss its Q4 and full-year 2021 financial results. The call can be accessed via phone or through a webcast available on their Investor Relations website. Rhythm is focused on treating rare genetic diseases of obesity, with its drug IMCIVREE (setmelanotide) being the first FDA-approved therapy for specific genetic deficiencies related to obesity. The company is advancing its clinical development program while managing risks including regulatory approval uncertainties.
Rhythm Pharmaceuticals announced promising interim results from its long-term study of setmelanotide for Bardet-Biedl Syndrome (BBS), revealing sustained weight loss over 24 months. The mean BMI reduction was -14.3%, with significant improvements in older patients as well. The results showcased that setmelanotide was well-tolerated, with no new safety concerns identified. Rhythm is preparing for the potential U.S. commercial launch of IMCIVREE, pending FDA approval, where a supplemental NDA has a PDUFA goal date of March 16, 2022. Detailed results will be presented at an upcoming medical meeting.
Rhythm Pharmaceuticals (Nasdaq: RYTM) will host a virtual event on February 16, 2022, to discuss the patient experience of Bardet-Biedl Syndrome (BBS) and its commercialization plans for setmelanotide, aimed at addressing obesity and hyperphagia in BBS patients. The event features key opinion leaders and updates on the FDA review of the supplemental New Drug Application (sNDA) for setmelanotide, with a PDUFA goal date of March 16, 2022. The company aims to enhance awareness and understanding of BBS and its treatments.
Rhythm Pharmaceuticals (RYTM) announced the initiation of the DAYBREAK Phase 2 clinical trial, the most extensive of its kind for rare genetic obesity diseases, dosing the first patient with setmelanotide. This trial aims to treat severe obesity and hyperphagia linked to variants in 31 genes. Concurrently, a Phase 3 switch trial evaluates a weekly setmelanotide formulation for patients currently on a daily dosage. DAYBREAK is set to enroll approximately 500 participants across 12 countries, with significant potential to shape future treatments for obesity linked to genetic variants.
Rhythm Pharmaceuticals (RYTM) announced an exclusive licensing agreement with RareStone for IMCIVREE (setmelanotide) to treat genetic obesity in China, including Hong Kong and Macau. Rhythm will receive a $12 million upfront payment, with potential future payments of up to $63.5 million plus sales royalties. The agreement aims to enhance patient access in China for severe genetic obesity, addressing a significant unmet medical need. This partnership marks Rhythm's first expansion into the Asian market, enhancing its global outreach.
Rhythm Pharmaceuticals (Nasdaq: RYTM) announced that the FDA has accepted its supplemental New Drug Application (sNDA) for IMCIVREE® (setmelanotide) targeting Bardet-Biedl syndrome and Alström syndrome. The FDA granted Priority Review status, setting a PDUFA goal date of March 16, 2022. This acceptance is regarded as a significant advancement in addressing unmet medical needs for these ultra-rare genetic diseases that affect obesity and hunger regulation.
Rhythm Pharmaceuticals (Nasdaq: RYTM) announced that CEO David Meeker will present at the Stifel 2021 Virtual Healthcare Conference on November 15, 2021, at 11:20 a.m. ET. A live webcast will be accessible on the company’s website, with a replay available for 30 days post-event.
Rhythm specializes in therapies for rare genetic obesity diseases. Their product, IMCIVREE (setmelanotide), approved in the U.S. and Europe for specific genetic obesity conditions, continues to show promise with ongoing development in additional obesity-related disorders.
Rhythm Pharmaceuticals (RYTM) has submitted regulatory filings for IMCIVREE® (setmelanotide) for treating Bardet-Biedl and Alström syndromes, with launch preparations set for mid-2022. In Q3 2021, IMCIVREE net sales reached $1 million, marking a revenue milestone since its FDA approval in November 2020. The company presented 22 data studies at major medical conferences, including positive outcomes on health-related quality of life for patients with rare genetic obesity diseases. Cash position as of September 30, 2021, was approximately $328.4 million, indicating strong financial support for ongoing operations.
Rhythm Pharmaceuticals (Nasdaq: RYTM) presented comprehensive data on setmelanotide at ObesityWeek 2021, focusing on its effects on Bardet-Biedl Syndrome (BBS). Key findings include that 85% of patients reported improved health-related quality of life (HRQOL) after one year on therapy, along with significant reductions in BMI—9.1% for adults and 9.5% for pediatric patients. New data from Phase 2 trials showed setmelanotide also reduced hunger in patients with SH2B1 and SRC1 deficiencies. The company aims to expand clinical evaluations to 36 relevant genes affecting obesity.
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