Rhythm Pharmaceu - RYTM STOCK NEWS

Rhythm Pharmaceuticals announced that the FDA has accepted their supplemental New Drug Application (sNDA) for IMCIVREE® (setmelanotide) with Priority Review. The sNDA aims to expand the label to treat obesity due to Bardet-Biedl syndrome (BBS) or POMC/LEPR deficiency in children as young as 2 years old. The FDA set a PDUFA goal date of December 26, 2024.

The sNDA is based on data from a Phase 3 trial in patients aged 2 to 6 years. Results showed a 3.04 mean reduction in BMI-Z score and 18.4% mean reduction in BMI. In July 2024, the European Commission expanded IMCIVREE's marketing authorization for children as young as 2 years old with these conditions.

Rhythm Pharmaceuticals (Nasdaq: RYTM), a commercial-stage biopharmaceutical company specializing in rare neuroendocrine diseases, has announced its participation in the upcoming Wells Fargo Healthcare Conference. The event will take place at Encore Boston Harbor on Thursday, September 5, 2024.

Dr. David Meeker, Chair, President and CEO of Rhythm Pharmaceuticals, will engage in a fireside chat at 3:45 p.m. ET. Investors and interested parties can access a live webcast of the presentation through the company's website at www.rhythmtx.com under the 'Events & Presentations' section of the Investor Relations page. A replay of the webcast will be available for 30 days following the presentation.

Rhythm Pharmaceuticals (Nasdaq: RYTM), a commercial-stage biopharmaceutical company focused on rare neuroendocrine diseases, has announced new employment inducement grants. On August 8, 2024, the company's Compensation & Management Development Committee granted inducement restricted stock units (RSUs) covering 16,200 shares of common stock to five new employees. These RSUs are part of the Rhythm Pharmaceuticals 2022 Employment Inducement Plan, adopted on February 9, 2022, and are used exclusively for equity awards to new hires as per Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over four years, with 25% vesting on each employment anniversary, contingent on continued employment.

Rhythm Pharmaceuticals reported Q2 2024 financial results and business updates. Key highlights include:

- Net revenue from global IMCIVREE sales: $29.1 million

- Dosed first patients in Japanese cohort of Phase 3 trial for setmelanotide in hypothalamic obesity

- Completed sNDA submission to expand IMCIVREE label for pediatric patients as young as 2 years old

- Cash on-hand expected to support operations into 2026

- Approximately 100 new U.S. prescriptions for IMCIVREE in BBS; payor approval for ~70 prescriptions

- European Commission expanded IMCIVREE marketing authorization for children as young as 2 years old

- Dosed first patients in Phase 2 trial of oral MC4R agonist LB54640 in hypothalamic obesity

- Financial results: R&D expenses $30.2M, S,G&A expenses $36.4M, net loss $33.6M

Rhythm Pharmaceuticals (Nasdaq: RYTM) announced that the European Commission has expanded the marketing authorization for IMCIVREE® (setmelanotide) to include children between 2 and 6 years old with obesity due to Bardet Biedl syndrome (BBS) or POMC, PCSK1, or LEPR deficiency. This expansion makes IMCIVREE the first-ever authorized precision medicine in the European Union for control of hunger and treatment of obesity in adults and children as young as 2 years old with these rare genetic conditions. The company believes this is an important milestone for European patients, offering an opportunity to address severe hunger and early-onset obesity associated with these conditions at a young age.

Rhythm Pharmaceuticals (Nasdaq: RYTM) has initiated dosing in a Phase 2 clinical trial for LB54640, an oral melanocortin-4 receptor (MC4R) agonist, targeting hypothalamic obesity. The study aims to evaluate the drug's safety and efficacy in patients aged 12 and older. Key points:

• LB54640 showed promising results in preclinical work and Phase 1 trials
• The drug potentially offers targeted MC4R effects without hyperpigmentation
• The Phase 2 trial involves 28 patients over 14 weeks, with possible extension to 52 weeks
• Primary endpoint: change in body mass index after 14 weeks
• Rhythm acquired global licensing for LB54640 from LG Chem in January 2024

Rhythm Pharmaceuticals (Nasdaq: RYTM), a commercial-stage biopharmaceutical company focusing on rare neuroendocrine diseases, has announced two upcoming events. First, the company will host a conference call and webcast on August 6, 2024, at 8:00 a.m. ET to report its second quarter 2024 financial results and provide a corporate update. Participants can register for the call online.

Additionally, David Meeker, M.D., Chair, President and CEO of Rhythm, will participate in a fireside chat at the Canaccord Genuity 44th Annual Growth Conference in Boston on August 13, 2024, at 11:00 a.m. ET. Both events will be webcast live and archived on the company's website for 30 days following the presentations.

Rhythm Pharmaceuticals (Nasdaq: RYTM) announced on July 11, 2024, that its Board of Directors' Compensation & Management Development Committee granted inducement restricted stock units (RSUs) covering 19,200 shares to six new employees on July 8, 2024. These RSUs are part of the 2022 Employment Inducement Plan, created exclusively for equity awards to attract new hires in line with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over four years, with 25% of shares vesting each year on the anniversary of the hire date, contingent on the employees' continued employment. This move aims to incentivize and retain new talent in the company.

Rhythm Pharmaceuticals has appointed Alastair Garfield, Ph.D., as Chief Scientific Officer, effective July 1, 2024. Dr. Garfield, who has a robust background in appetite and body weight regulation, rejoined Rhythm after his tenure at Rectify Pharma, where he developed first-in-class therapeutics for rare diseases. His leadership will be pivotal as Rhythm continues to develop therapies targeting the MC4R pathway, which plays a important role in managing hyperphagia and severe obesity. Dr. Garfield's previous research has been published in prestigious journals like Nature and Nature Neuroscience.