Business
Rhythm Pharmaceuticals Reports First Quarter 2023 Financial Results and Business Update
-- Strong U.S. commercial progress continues for IMCIVREE® (setmelanotide) with more than 300 new prescriptions for Bardet-Biedl syndrome (BBS) received since
About this update from Rhythm Pharmaceuticals, Inc.
[{"type":"text","content":"-- Strong U.S. commercial progress continues for IMCIVREE® (setmelanotide) with more than 300 new prescriptions for Bardet-Biedl syndrome (BBS) received since FDA approval -- -- Launched IMCIVREE for BBS in Germany with federal reimbursement -- -- First patients dosed in pivotal Phase 3 trial evaluating setmelanotide in acquired hypothalamic obesity; completion of enrollment expected 1Q 2024 -- -- Executing on six clinical trials with three data readouts expected in 2H 2023 -- -- Management to host conference call today at 8:00 a.m. ET -- BOSTON, May 02, 2023 (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 hyperphagia and severe obesity caused by rare melanocortin-4 receptor (MC4R) pathway diseases, today reported financial results and provided a business update for the first quarter ended March 31, 2023. “Rhythm is off to a strong start in 2023 with IMCIVREE® (setmelanotide) commercial progress with more than 300 new U.S. prescriptions for Bardet-Biedl syndrome (BBS) since launch. Internationally, we are excited about our first European launch for BBS in Germany with federal reimbursement and looking forward to further expansion into additional global markets this year,” said David Meeker, M.D., Chair, President and Chief Executive Officer of Rhythm. Dr. Meeker added, “We also are pleased to announce that we dosed the first patients in our pivotal Phase 3 trial in hypothalamic obesity, and we anticipate completing enrollment in the first quarter of 2024. With an identified and engaged patient population and encouraging data from our Phase 2 trial, hypothalamic obesity represents a meaningful opportunity for Rhythm. In addition, we are advancing our newly acquired program from Xinvento in congenital hyperinsulinism (CHI), a natural strategic fit for our portfolio.” First Quarter and Recent Business Highlights Commercial Update Today, Rhythm announced that more than 300 new prescriptions for IMCIVREE for BBS have been written from more than 175 physicians in the United States since U.S. Food and Drug Administration (FDA) approval on June 16, 2022 through March 31, 2023. The Company also announced that it had received payor approval for reimbursement for more than 160 of those prescripti...