Rhythm Pharmaceuticals Receives Positive CHMP Opinion for ▼IMCIVREE® (setmelanotide) for the Treatment of Obesity and Control of Hunger in Patients between 2 and 6 years old with Bardet Biedl Syndrome or POMC, PCSK1, or LEPR Deficiency
Rhythm Pharmaceuticals announced that the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion for IMCIVREE (setmelanotide). This recommendation is for children aged 2 to younger than 6 with obesity due to Bardet Biedl syndrome (BBS) or pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1 (PCSK1), or leptin receptor (LEPR) deficiency. If approved by the European Commission (EC), this will expand IMCIVREE's authorization beyond its current scope, which covers adults and children aged 6 and above. The EC's final decision is expected in the second half of 2024. This development highlights the unmet medical need for treating severe early-onset obesity and uncontrolled hunger associated with these rare neuroendocrine diseases.
- CHMP's positive opinion could lead to an expanded market for IMCIVREE, potentially increasing revenue for Rhythm Pharmaceuticals.
- Approval would make IMCIVREE the first authorized treatment for children as young as 2 in the EU for these specific conditions.
- None.
Insights
The recent positive opinion from the European Medicines Agency’s CHMP for IMCIVREE (setmelanotide) is a notable step. For investors, extending the treatment's indication to include younger children with Bardet-Biedl syndrome (BBS) or deficiencies in POMC, PCSK1, or LEPR is promising. These conditions are rare but severe, leading to uncontrolled hunger and obesity early in life. This broadens the drug’s market potential within the EU, as currently, there are very few targeted treatments available for such young patients.
From a medical research standpoint, this positive opinion signifies a solid validation of setmelanotide's efficacy and safety profile. The EMA’s endorsement underscores the importance of early intervention in treating neuroendocrine-related obesity, potentially setting a precedent for future pediatric treatments. Safety and efficacy in such a young population are challenging to demonstrate, which makes this recommendation particularly significant. Investors should note that this could pave the way for faster adoption once the final decision by the European Commission is made.
It's also worth noting that treatments targeting rare diseases often face fewer competitors, allowing for premium pricing strategies. Thus, this expands Rhythm Pharmaceuticals' revenue potential substantially while addressing a critical unmet medical need.
Analyzing this news from a financial perspective, a positive CHMP opinion usually translates to increased investor confidence and potential stock price uplift. The anticipated European Commission decision in the second half of 2024 will be the key milestone investors should watch. A positive outcome could mean a significant expansion in the addressable market for IMCIVREE, likely boosting revenue projections for Rhythm Pharmaceuticals.
Expanding the treatment indication to include children as young as two years old could have substantial financial benefits. Rare disease treatments typically benefit from favorable pricing and reimbursement policies within the EU, creating a significant revenue stream. Additionally, successful market expansion often leads to enhanced brand recognition and market penetration, strengthening overall market position.
However, investors should be mindful of the associated costs. Expanding market authorization often comes with increased marketing and distribution expenditures. Careful balance between potential revenue increase and the associated costs will be key to assess the true financial impact. Moreover, monitoring the adoption rate post-approval will be important to understanding the long-term financial benefits.
From a market research perspective, the news indicates a strategic growth opportunity for Rhythm Pharmaceuticals. The rare disease market segment is characterized by high unmet medical needs and limited treatment options, which IMCIVREE aims to address. By targeting very young patients, Rhythm Pharmaceuticals can establish a strong foothold in this niche market early on, potentially leading to long-term brand loyalty.
The recommendation by the CHMP not only validates the clinical benefits of setmelanotide but also enhances its marketability. With the European Commission's anticipated decision, there is potential for increased market penetration across the EU. The favorable CHMP opinion is also indicative of robust clinical trial results which could bolster marketing efforts and persuade prescribers and healthcare providers.
Investors should consider the competitive landscape; while the rarity of the targeted conditions means fewer direct competitors, it also means that effective market education and outreach will be crucial. The ability of Rhythm Pharmaceuticals to effectively communicate the benefits and secure payer support will be a driving factor in the product's market success.
- European Commission decision anticipated in the second half of 2024 -
BOSTON, June 28, 2024 (GLOBE NEWSWIRE) -- Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM), a global commercial-stage biopharmaceutical company focused on transforming the lives of patients and their families living with rare neuroendocrine diseases, today announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending the marketing authorization for IMCIVREE® (setmelanotide) include children between 2 and younger than 6 years old with obesity due to Bardet Biedl syndrome (BBS) or pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1 (PCSK1), or leptin receptor (LEPR) deficiency.
“We continue to work closely with health authorities throughout the European Union to make IMCIVREE available to eligible patients with uncontrolled hunger and early-onset, severe obesity associated with these rare neuroendocrine diseases,” said Yann Mazabraud, Executive Vice President, Head of International at Rhythm Pharmaceuticals. “We believe this positive CHMP opinion for pediatric use underscores the severe impact of the disruption of the MC4R pathway and significant unmet medical need for young children. It is important to diagnose patients with these diseases early in life before the comorbidities of severe obesity take hold.”
IMCIVREE is the first-ever authorized treatment option in the European Union for control of hunger and treatment of obesity and in adults and children 6 years of age and above living with BBS or POMC, PCSK1, or LEPR deficiency.
The CHMP opinion on the marketing authorization to include patients as young as 2 years old now will be reviewed by the European Commission (EC), which has the authority to grant marketing authorizations for medicinal products in the European Union (EU). A final decision on the application to expand the marketing authorization for setmelanotide is anticipated in the second half of 2024.
About Rhythm Pharmaceuticals
Rhythm is a commercial-stage biopharmaceutical company committed to transforming the lives of patients and their families 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. 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 Prescribing Information 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 of any of our products or product candidates, including setmelanotide; the potential benefits of any of our products or product candidates for any specific disease indication or at any dosage, including the potential benefits of setmelanotide for pediatric patients with BBS or POMC, PCSK1, or LEPR deficiency; our expectations surrounding potential regulatory submissions and approvals, including within the EU; our business strategy and plans, including regarding commercialization of setmelanotide in the EU and other international regions; and the timing of any of the foregoing. 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 March 31, 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:
Adam Daley
Berry & Company Public Relations
212-253-8881
adaley@berrypr.com
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