Rhythm Pharma's Setmelanotide Shows Positive Phase 2 Data in Prader-Willi Syndrome
RYTM sits 47% above its 52-week low of $60.7.
Summary
Rhythm Pharmaceuticals reported positive interim six-month data from its Phase 2 trial of setmelanotide in Prader-Willi Syndrome (PWS) patients. The drug demonstrated clinically meaningful reductions in BMI, fat mass, hyperphagia, and anxiety. This follows recent regulatory approvals for setmelanotide in other indications and strong Q1 revenue, despite a prior Phase 3 trial failure for a different indication. The positive Phase 2 results significantly increase confidence to advance setmelanotide into Phase 3 for PWS, a rare disease with a substantial patient population and limited treatment options. The company is holding a conference call today, June 13th, at 9 a.m. ET to discuss these results.
At the time of this announcement, RYTM was trading at $89.02 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6.1B. The 52-week trading range was $60.70 to $122.20. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.