Rhythm's Weekly Obesity Drug RM-718 Cuts BMI 11.6% in Brain Tumor-Linked Condition
RYTM sits 38% above its 52-week low of $74.5.
Summary
Rhythm Pharmaceuticals unveiled preliminary Phase 2 data for RM-718, a weekly injectable MC4R agonist, in acquired hypothalamic obesity — a rare condition caused by brain tumor treatment. Among 7 patients completing 16 weeks, BMI fell an average 11.6%, comparable to the company's existing daily drug Imcivree. Two patients stopped due to side effects. The data suggest a potential second franchise in hypothalamic obesity with a more convenient dosing schedule. Shares rose 5% premarket. This follows positive Q2 revenue reported earlier today and builds on the company's MC4R pipeline momentum.
At the time of this announcement, RYTM was trading at $102.96 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $7.1B. The 52-week trading range was $74.50 to $122.20. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.