Rhythm Pharmaceu - RYTM STOCK NEWS

Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM), a biopharmaceutical company, announced that CEO Dr. David Meeker will participate in a fireside chat at the 22^nd Annual Needham Virtual Healthcare Conference on April 17, 2023, at 3:00 p.m. ET. The presentation will be accessible via a live audio webcast on the company's Investor Relations webpage, with a replay available for 30 days afterward.

Rhythm focuses on patients with hyperphagia and severe obesity linked to rare melanocortin-4 receptor (MC4R) diseases. Their leading product, IMCIVREE (setmelanotide), is FDA-approved for treating obesity caused by specific genetic deficiencies and is also authorized in the EU and UK for related conditions. The company actively pursues further development for additional MC4R pathway diseases.

Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM) announced on April 4, 2023, that its Compensation Committee granted inducement equity grants totaling 21,870 shares of common stock to three new employees. This includes inducement stock options for 14,580 shares and restricted stock units (RSUs) for 7,290 shares, all governed by the 2022 Employment Inducement Plan. The options have an exercise price of $17.97 per share and vest over four years, while the RSUs also vest over four years. The Inducement Plan was adopted on February 9, 2022, to attract key talent to the company, focusing on therapies for hyperphagia and severe obesity linked to rare MC4R diseases. Rhythm’s lead product, IMCIVREE (setmelanotide), is FDA-approved for chronic weight management in specific genetic obesity cases, with regulatory authorizations in the EU and UK as well.

Rhythm Pharmaceuticals (Nasdaq: RYTM) announced significant findings from an interview-based study published in Advances in Therapy, highlighting how setmelanotide improved hyperphagia, reduced body weight, and lessened obsessive food focus in patients with Bardet-Biedl syndrome (BBS). The study included insights from 19 interviews, revealing 78.9% of participants reported lacking control over eating before treatment. Post-treatment, all noted improvements in hyperphagia and family dynamics. Additionally, a study on hyperphagia's impact on quality of life was released, showing its effects comparable to severe conditions like stroke. Rhythm aims to enhance lives through innovation in treating rare MC4R pathway diseases.

Rhythm Pharmaceuticals (Nasdaq: RYTM) announced equity grants of 34,215 shares to three new employees on March 1, 2023. This includes 22,810 stock options and 11,405 restricted stock units (RSUs), in line with its 2022 Employment Inducement Plan. The stock options have an exercise price of $25.85, with a vesting schedule that completes over four years. The RSUs will vest similarly over four years. Rhythm is focused on treating hyperphagia and severe obesity linked to rare MC4R pathway diseases, with its primary product, IMCIVREE (setmelanotide), already FDA-approved for chronic weight management in targeted patient populations.

Rhythm Pharmaceuticals reported a strong performance in 2022, highlighted by over 200 new prescriptions for IMCIVREE for Bardet-Biedl syndrome since FDA approval. The company launched IMCIVREE in eight international markets and initiated a Phase 3 trial for setmelanotide in acquired hypothalamic obesity. Rhythm's acquisition of Xinvento B.V. expands its pipeline to include congenital hyperinsulinism. Financially, the company recorded $8.8 million in product revenue for Q4 2022 and $16.9 million for the full year, a significant increase from 2021. However, net loss was $42.5 million for Q4 and $181.1 million for the year. Rhythm anticipates 2023 operating expenses of $200-$220 million.

Rhythm Pharmaceuticals (NASDAQ: RYTM) announced the acquisition of Xinvento B.V., a biotech firm focused on congenital hyperinsulinism (CHI), a rare genetic disease characterized by excessive insulin secretion. This acquisition, valued at up to $61 million including milestone payments, aligns with Rhythm's strategy in rare endocrinology and allows for new development opportunities. Clinical development for CHI is expected to begin in 2024. The acquisition includes Xinvento's team, enhancing Rhythm's expertise in CHI therapies.

Rhythm Pharmaceuticals (Nasdaq: RYTM) announced it will hold a live conference call on March 1, 2023, at 8:00 a.m. ET to disclose its fourth quarter and full-year 2022 financial results and provide a corporate update. This call will be accessible via registration. Additionally, CEO David Meeker will participate in the Cowen 43rd Annual Health Care Conference on March 6, 2023. Rhythm focuses on treating hyperphagia and severe obesity linked to rare melanocortin-4 receptor pathway diseases through its FDA-approved drug, setmelanotide, which is also authorized in Europe for similar conditions.

Rhythm Pharmaceuticals (Nasdaq: RYTM) announced on February 2, 2023, that its board's Compensation Committee granted equity awards to five new employees. The inducement equity grants cover 24,525 shares, including stock options for 16,350 shares at an exercise price of $28.90, and restricted stock units (RSUs) for 8,175 shares. The stock options vest 25% after the first year, with the remaining shares vesting quarterly over three years, while the RSUs vest 25% each year for four years. These grants are part of the Inducement Plan adopted on February 9, 2022, designed to attract talent as per Nasdaq regulations.

Rhythm Pharmaceuticals announced significant improvements in quality of life for patients with Bardet-Biedl syndrome (BBS) following a 52-week treatment with setmelanotide, as published in the Orphanet Journal of Rare Diseases. The global Phase 3 clinical trial reported an average increase of +11.2 points on the Pediatric Quality of Life Inventory (PedsQL) for younger patients and +12.0 points on the Impact of Weight on Quality of Life Questionnaire-Lite (IWQOL-Lite) for adults. Setmelanotide is designed to target the MC4R pathway impairment and is FDA-approved for chronic weight management in patients with genetically confirmed BBS.