Rhythm Pharmaceuticals Announces New Employment Inducement Grants
Rhythm Pharmaceuticals, a commercial-stage biopharmaceutical company focused on rare neuroendocrine diseases, has announced new employment inducement grants. On October 4, 2024, the company's Compensation & Management Development Committee granted inducement restricted stock units (RSUs) covering 30,050 shares of common stock to nine new employees.
These RSUs are subject to the Rhythm Pharmaceuticals 2022 Employment Inducement Plan, which is used exclusively for granting equity awards to new employees as per Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over four years, with 25% of the shares vesting on each anniversary of the hire date, contingent on continued employment.
Rhythm Pharmaceuticals, una società biofarmaceutica in fase commerciale focalizzata su malattie neuroendocrine rare, ha annunciato nuove concessioni di incentivi all'assunzione. Il 4 ottobre 2024, il Comitato per le Compensazioni e lo Sviluppo Manageriale della società ha concesso unità di azioni vincolate (RSU) per un totale di 30.050 azioni di comune stock a nove nuovi dipendenti.
Queste RSU sono soggette al Piano di Incentivo all'Assunzione del 2022 di Rhythm Pharmaceuticals, utilizzato esclusivamente per concedere premi azionari ai nuovi dipendenti secondo la Regola di quotazione Nasdaq 5635(c)(4). Le RSU acquisteranno diritto nel corso di quattro anni, con il 25% delle azioni che acquisterà diritto ogni anniversario della data di assunzione, a condizione di un'occupazione continuativa.
Rhythm Pharmaceuticals, una empresa biofarmacéutica en etapa comercial centrada en enfermedades neuroendocrinas raras, ha anunciado nuevas concesiones de incentivos para el empleo. El 4 de octubre de 2024, el Comité de Compensación y Desarrollo de la Gestión de la compañía otorgó unidades de acciones restringidas (RSUs) que cubren 30,050 acciones ordinarias a nueve nuevos empleados.
Estas RSUs están sujetas al Plan de Incentivo para el Empleo 2022 de Rhythm Pharmaceuticals, que se utiliza exclusivamente para otorgar premios en acciones a nuevos empleados según la Regla de Cotización de Nasdaq 5635(c)(4). Las RSUs se consolidarán a lo largo de cuatro años, con el 25% de las acciones consolidándose en cada aniversario de la fecha de contratación, dependiendo de la continuidad del empleo.
리듬 제약은 희귀 신경내분비 질환에 초점을 맞춘 상업 단계의 생명공학 회사로서 새로운 채용 유인 보조금을 발표했습니다. 2024년 10월 4일, 회사의 보상 및 관리 개발 위원회는 아홉 명의 신입 직원에게 제한된 주식 단위(RSU) 30,050주를 부여했습니다.
이 RSU는 리듬 제약의 2022년 채용 유인 계획에 따라 시행되며, 이는 나스닥 상장 규칙 5635(c)(4)에 따라 신입 직원에게만 보상으로 주식 상여를 부여하는 데 사용됩니다. RSU는 4년에 걸쳐 확정됩니다, 고용 지속 여부에 따라 고용일의 매주년마다 25%의 주식이 확정됩니다.
Rhythm Pharmaceuticals, une entreprise biopharmaceutique en phase commerciale axée sur les maladies neuroendocrines rares, a annoncé de nouvelles subventions incitatives à l'emploi. Le 4 octobre 2024, le comité de rémunération et de développement de la direction de l'entreprise a accordé des unités d'actions restreintes (RSUs) couvrant 30 050 actions ordinaires à neuf nouveaux employés.
Ces RSUs sont soumises au Plan d'incitation à l'emploi 2022 de Rhythm Pharmaceuticals, qui est utilisé exclusivement pour accorder des récompenses en actions aux nouveaux employés conformément à la règle de cotation Nasdaq 5635(c)(4). Les RSUs seront acquises sur quatre ans, avec 25 % des actions acquises chaque anniversaire de la date d'embauche, sous réserve d'un emploi continu.
Rhythm Pharmaceuticals, ein biopharmazeutisches Unternehmen in der kommerziellen Phase, das sich auf seltene neuroendokrine Erkrankungen spezialisiert hat, hat neue Anreizvergaben für die Beschäftigung angekündigt. Am 4. Oktober 2024 vergab der Vergütungs- und Entwicklungsausschuss des Unternehmens eingeschränkte Aktieneinheiten (RSUs) für insgesamt 30.050 Anteile an neun neuen Mitarbeitern.
Diese RSUs unterliegen dem Rhythm Pharmaceuticals 2022 Beschäftigungsanreizplan, der ausschließlich zur Gewährung von Eigenkapitalvergütungen an neue Mitarbeiter gemäß der Nasdaq-Listingregel 5635(c)(4) verwendet wird. Die RSUs werden über vier Jahre hinweg erwerben, wobei 25 % der Anteile an jedem Jahrestag des Einstellungdatums verliehen werden, vorausgesetzt, dass das Beschäftigungsverhältnis fortbesteht.
- Rhythm Pharmaceuticals is attracting new talent with equity-based compensation
- The company is expanding its workforce, potentially indicating growth
- Potential dilution of existing shareholders' stock value due to new RSU issuance
BOSTON, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM), a commercial-stage biopharmaceutical company focused on transforming the lives of patients living with rare neuroendocrine diseases, today announced that on October 4, 2024, the Compensation & Management Development Committee of Rhythm’s Board of Directors granted inducement restricted stock units, or RSUs, covering an aggregate of 30,050 shares of its common stock to nine new employees.
These inducement RSUs are subject to the terms of the Rhythm Pharmaceuticals, Inc. 2022 Employment Inducement Plan (the "Inducement Plan").
The Inducement Plan is used exclusively for the grant of equity awards to individuals as an inducement material to the employees entering into employment with Rhythm pursuant to Nasdaq Listing Rule 5635(c)(4). The Inducement Plan was adopted by Rhythm’s Board of Directors on February 9, 2022.
The RSUs vest over four years, with
About Rhythm Pharmaceuticals
Rhythm is a commercial-stage biopharmaceutical company committed to transforming the lives of patients living with rare neuroendocrine diseases. Rhythm’s lead asset, IMCIVREE® (setmelanotide), an MC4R agonist designed to treat hyperphagia and severe obesity, is approved by the U.S. Food and Drug Administration (FDA) for chronic weight management in adult and pediatric patients 6 years of age and older with monogenic or syndromic obesity due to pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1 (PCSK1) or leptin receptor (LEPR) deficiency confirmed by genetic testing, or patients with a clinical diagnosis of Bardet-Biedl syndrome (BBS). Both the European Commission (EC) and the UK’s Medicines & Healthcare Products Regulatory Agency (MHRA) have authorized setmelanotide for the treatment of obesity and the control of hunger associated with genetically confirmed BBS or genetically confirmed loss-of-function biallelic POMC, including PCSK1, deficiency or biallelic LEPR deficiency in adults and children 6 years of age and above. The EC has also authorized setmelanotide for control of hunger and treatment of obesity in children as young as 2 years old, living with BBS or POMC, PCSK1, or LEPR deficiency. Additionally, Rhythm is advancing a broad clinical development program for setmelanotide in other rare diseases, as well as investigational MC4R agonists LB54640 and RM-718, and a preclinical suite of small molecules for the treatment of congenital hyperinsulinism. Rhythm’s headquarters is in Boston, MA.
Setmelanotide Indication
In the United States, setmelanotide is indicated for chronic weight management in adult and pediatric patients 6 years of age and older with monogenic or syndromic obesity due to POMC, PCSK1 or LEPR deficiency as determined by an FDA-approved test demonstrating variants in POMC, PCSK1 or LEPR genes that are interpreted as pathogenic, likely pathogenic, or of uncertain significance (VUS) or BBS.
In the European Union, setmelanotide is indicated for the treatment of obesity and the control of hunger associated with genetically confirmed BBS or loss-of-function biallelic POMC, including PCSK1, deficiency or biallelic LEPR deficiency in adults and children 6 years of age and above. In Europe, setmelanotide should be prescribed and supervised by a physician with expertise in obesity with underlying genetic etiology.
Limitations of Use
Setmelanotide is not indicated for the treatment of patients with the following conditions as setmelanotide would not be expected to be effective:
- Obesity due to suspected POMC, PCSK1 or LEPR deficiency with POMC, PCSK1 or LEPR variants classified as benign or likely benign.
- Other types of obesity not related to POMC, PCSK1 or LEPR deficiency, or BBS, including obesity associated with other genetic syndromes and general (polygenic) obesity.
Contraindication
Prior serious hypersensitivity to setmelanotide or any of the excipients in IMCIVREE. Serious hypersensitivity reactions (e.g., anaphylaxis) have been reported.
WARNINGS AND PRECAUTIONS
Skin Pigmentation and Darkening of Pre-Existing Nevi: Generalized increased skin pigmentation and darkening of pre-existing nevi have occurred because of its pharmacologic effect. Full body skin examinations prior to initiation and periodically during treatment should be conducted to monitor pre-existing and new pigmentary lesions.
Heart rate and blood pressure monitoring: In Europe, heart rate and blood pressure should be monitored as part of standard clinical practice at each medical visit (at least every 6 months) for patients treated with setmelanotide.
Disturbance in Sexual Arousal: Spontaneous penile erections in males and sexual adverse reactions in females have occurred. Patients who have an erection lasting longer than 4 hours should seek emergency medical attention.
Depression and Suicidal Ideation: Depression and suicidal ideation have occurred. Patients should be monitored for new onset or worsening depression or suicidal thoughts or behaviors. Consideration should be given to discontinuing setmelanotide if patients experience suicidal thoughts or behaviors, or clinically significant or persistent depression symptoms occur.
Hypersensitivity Reactions: Serious hypersensitivity reactions (e.g., anaphylaxis) have been reported. If suspected, advise patients to promptly seek medical attention and discontinue setmelanotide.
Pediatric Population: The prescribing physician should periodically assess response to setmelanotide therapy. In growing children, the impact of weight loss on growth and maturation should be evaluated. In Europe, the prescribing physician should monitor growth (height and weight) using age- and sex-appropriate growth curves.
Risk of Serious Adverse Reactions Due to Benzyl Alcohol Preservative in Neonates and Low Birth Weight Infants: Setmelanotide is not approved for use in neonates or infants. Serious and fatal adverse reactions including “gasping syndrome” can occur in neonates and low birth weight infants treated with benzyl alcohol-preserved drugs.
ADVERSE REACTIONS
Most common adverse reactions (incidence ≥
USE IN SPECIFIC POPULATIONS
Lactation: Not recommended when breastfeeding.
To report SUSPECTED ADVERSE REACTIONS, contact Rhythm Pharmaceuticals at +1 (833) 789-6337 or FDA at 1-800-FDA-1088 or www.fda.gov/medwatch. See section 4.8 of the Summary of Product Characteristics for information on reporting suspected adverse reactions in Europe.
Please see the full U.S. Prescribing Information and EU Summary of Product Characteristics for additional Important Safety Information.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the potential, safety, efficacy, and regulatory and clinical progress, potential regulatory submissions, approvals and timing thereof of setmelanotide and our other product candidates, and our business strategy and plans, and statements related to our inducement equity grants. Statements using words such as “expect”, “anticipate”, “believe”, “may”, “will” and similar terms are also forward-looking statements. Such statements are subject to numerous risks and uncertainties, including, but not limited to, our ability to enroll patients in clinical trials, the design and outcome of clinical trials, the impact of competition, the ability to achieve or obtain necessary regulatory approvals, risks associated with data analysis and reporting, our ability to successfully commercialize setmelanotide, our liquidity and expenses, our ability to retain our key employees and consultants, and to attract, retain and motivate qualified personnel, and general economic conditions, and the other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the three months ended June 30, 2024 and our other filings with the Securities and Exchange Commission. Except as required by law, we undertake no obligations to make any revisions to the forward-looking statements contained in this release or to update them to reflect events or circumstances occurring after the date of this release, whether as a result of new information, future developments or otherwise.
Corporate Contact:
David Connolly
Head of Investor Relations and Corporate Communications
Rhythm Pharmaceuticals, Inc.
857-264-4280
dconnolly@rhythmtx.com
Media Contact:
Sheryl Seapy
Real Chemistry
(949) 903-4750
sseapy@realchemistry.com
FAQ
How many new employees received RSUs from Rhythm Pharmaceuticals (RYTM) on October 4, 2024?
What is the vesting schedule for the RSUs granted by Rhythm Pharmaceuticals (RYTM)?
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What is the purpose of Rhythm Pharmaceuticals' (RYTM) 2022 Employment Inducement Plan?
