Rhythm Pharmaceu Stock Price, News & Analysis

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.

Rhythm Pharmaceuticals (Nasdaq: RYTM) announced the granting of equity awards to three new employees, totaling 29,925 shares. The awards consist of inducement stock options for 19,950 shares and restricted stock units (RSUs) for 9,975 shares, as part of the 2022 Employment Inducement Plan. The stock options have an exercise price of $28.32 and vest over four years, with RSUs vesting annually. This move aligns with Nasdaq Listing Rule 5635(c)(4) and aims to attract talented individuals to support the company's focus on treatments for hyperphagia and severe obesity linked to rare genetic disorders.

BOSTON, Dec. 1, 2022 - Rhythm Pharmaceuticals (Nasdaq: RYTM) announced CEO David Meeker will participate in a fireside chat at the BofA Securities 2022 Virtual Biotech SMID Cap Conference on December 8, 2022, at 9:40 a.m. ET. The live audio webcast will be accessible on the Investor Relations section of their website, with a replay available for 30 days post-event. Rhythm focuses on treating severe obesity from rare melanocortin-4 receptor pathway diseases with its FDA-approved medication setmelanotide, which targets specific genetic obesity conditions.

Rhythm Pharmaceuticals (Nasdaq: RYTM) announced significant advancements in its Phase 3 clinical trial of IMCIVREE (setmelanotide) for Bardet-Biedl syndrome (BBS), with results published in The Lancet Diabetes and Endocrinology. The trial met its primary and all key secondary endpoints, achieving substantial weight and hunger reductions after one year. Approximately 32.3% of patients aged 12 and older met the primary endpoint. Setmelanotide is now approved as the first therapy for chronic weight management in patients with BBS in the U.S. and EU, addressing a critical need for this rare genetic condition.

Rhythm Pharmaceuticals (RYTM) reported strong demand for IMCIVREE® (setmelanotide), with over 120 prescriptions since FDA approval for Bardet-Biedl Syndrome (BBS). The company successfully completed a $140 million public offering, extending its cash runway into 2025. Setmelanotide received FDA Breakthrough Therapy Designation for hypothalamic obesity, with a Phase 3 trial expected to begin early 2023. Revenue for Q3 2022 reached $4.3 million, up from $1.0 million in Q3 2021, while net loss was $40.9 million, compared to $35.1 million in the prior year.

BOSTON, Nov. 7, 2022 - Rhythm Pharmaceuticals (NASDAQ: RYTM) announced the grant of inducement equity awards to two new employees on November 3, 2022. The total of 23,400 shares comprises 15,600 stock options and 7,800 restricted stock units (RSUs). The stock options have an exercise price of $24.32 and vest over four years, while RSUs vest annually over the same period. These equity awards are part of Rhythm’s 2022 Employment Inducement Plan, adopted on February 9, 2022, aimed at attracting talent to support its mission in treating hyperphagia and severe obesity linked to rare MC4R pathway diseases.