Rhythm Pharmaceuticals, Inc. · NASDAQ:RYTM
Rhythm Pharmaceuticals — Q1 2024 Earnings Presentation
20 slides from Rhythm Pharmaceuticals's earnings presentation, May 7, 2024
Slide 1: First Quarter 2024 Financial Results and Business Update
Rhythm Pharmaceuticals First Quarter 2024 Financial Results and Business Update May 7, 2024 ® © Rhythm® Pharmaceuticals, Inc. All rights reserved.
Slide 2: On Today's Call
On Today’s Call David Connolly, Executive Director of Investor Relations and Corporate Communications David Meeker, MD, Chair, President and Chief Executive Officer Jennifer Lee, Executive Vice President, Head of North America Yann Mazabraud, Executive Vice President, Head of International Hunter Sm
Slide 3: Forward-looking Statements
Forward-looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements,
Slide 4: David Meeker, MD
David Meeker, M Rhythar
Slide 5: Rhythm's Value Drivers
Rhythm’s Value Drivers 1 BBS global commercial execution Hypothalamic obesity offers a significant 2 expansion opportunity Advancing next generation assets 3 LB54640 and RM-718 with IP to 2040s ® 5
Slide 6: Phase 2 Study of Setmelanotide for Hypothalamic Obesity Published in The Lancet D&E
Results from Phase 2 Study of Setmelanotide for the Treatment of Hypothalamic Obesity Published in The Lancet D&E 16 of 18 14 of 18 patients achieved patients achieved primary endpoint >10% reduction of >5% reduction in BMI in BMI (P<0.0001) −14.5% -25.5% mean change mean percent reduction in BMI at
Slide 7: Jennifer Lee - BBS U.S. Launch
Jennifer Lee BBS U.S. Launch ® 7
Slide 8: Steady Progress with First Quarter 2024 Prescriptions and Approvals for Reimbursement
Steady Progress with First Quarter 2024 Prescriptions and Approvals for Reimbursement ~100 ~70 Prescriptions Approvals for received during reimbursement Q1 2024 during Q1 2024 ® 8
Slide 9: Increased Depth and Breadth of BBS IMCIVREE Prescriber Base
Increased Depth and Breadth of BBS IMCIVREE Prescriber Base >425 >30% of prescribers ‘new to Rhythm’* Prescribers launch of prescribers have written to date* >30% more than one prescription* *As of March 31, 2024 ® 9
Slide 10: Access and Reimbursement Remains Steady and Consistent
Access and Reimbursement Remains Steady and Consistent ~90% >85% of reimbursed of Medicaid >140 prescriptions fall covered lives in approvals for under commercial states with access reauthorization* and state Medicaid achieved for plans* IMCIVREE* *As of March 31, 2024 ® 10
Slide 11: Yann Mazabraud - EVP, Head of International
Yann Mazabraud EVP, Head of International ® 11
Slide 12: Advancing Market Access for IMCIVREE outside North America
Advancing Market Access for IMCIVREE outside North America United Kingdom The Netherlands Launched in POMC/LEPR; Launched in POMC/LEPR; BBS BBS launch expected in launch expected in 2H2024 2H2024 Germany Launched in BBS and France POMC/LEPR Reimbursed early- access programs for Italy hypothalamic ob
Slide 13: Expanding Teams in Germany and France as Demand Increases
Expanding Teams in Germany and France as Demand Increases More than 50% of International IMCIVREE revenues from France and Germany Progress in France Launch ongoing in Germany • Patients with hypothalamic obesity • BBS diagnosis and treatment coming on via pre-EMA approval guidelines recently publis
Slide 14: Hunter Smith - 1Q 2024 Financial Results
Hunter Smith 1Q 2024 Financial Results ® 14
Slide 15: Raised $150M through Convertible Preferred Stock Sale
Raised $150M through Convertible Preferred Stock Sale Extends cash runway well into 2026 beyond multiple, value-creating milestones Strong support from Preferred convertible Investors will also leading biotech shares can be receive a 6% investors: Perceptive converted to common cumulative annual Adv
Slide 16: 1Q 2024 Financial Snapshot
1Q 2024 Financial Snapshot ($ in millions, except per share data and shares Three months ended Three months ended outstanding) March 31, 2024 March 31, 2023 Product revenue, net $26.0M $11.5M R&D expenses $128.7M $37.9M SG&A expenses $34.4M $24.6M Net Loss $(141.4)M $(52.2)M Shares outstanding (basi
Slide 17: 1Q 2024 Financial Highlights
1Q 2024 Financial Highlights $201M 74% 1Q 2024 1Q 2024 cash burn cash equivalents and of Q1 2024 revenue R&D Expenses includes short-term investments of $128.7M include from U.S. sales $40M as of March 31, 2024 of IMCIVREE $92.4M up-front payment to vs. 76% in in costs related to LG Chem for 4Q 2023
Slide 18: David Meeker, MD - Conclusion
David Meeker, MD Conclusion ® 18
Slide 19: Continued Execution: Recent Achievements and Multiple Anticipated Milestones
Continued Execution: Recent Achievements and Multiple Anticipated Milestones Recent achievements Anticipated milestones in 2024 ✓Licensed global rights to oral MC4R agonist o 2Q2024: Complete sNDA submission to US FDA to LB54640 expand IMCIVREE label to include 2-6yo children ✓Completed enrollment i
Slide 20: Questions
Questions Rhythar
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