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Mar 31, 2022
Rhythm Pharmaceuticals Q1 2022 Earnings Report
Reported financial results and provided a business update for the first quarter ended March 31, 2022.
Key Takeaways
Rhythm Pharmaceuticals reported its Q1 2022 financial results, highlighting progress towards transforming the care of individuals living with rare genetic diseases of obesity. The company achieved its first European sales in France and is advancing patient identification efforts to support a successful U.S. launch for setmelanotide in Bardet-Biedl and Alström syndromes in June, pending FDA approval.
Patient identification and physician engagement are ongoing in preparation for the U.S. commercial launch in June 2022 in BBS and Alström syndrome, pending FDA approval.
The first commercial patients were treated with IMCIVREE® (setmelanotide) in France under a paid early access program.
The first patients were enrolled in the Phase 3 EMANATE trial and Phase 2 DAYBREAK trial.
Multiple abstracts were accepted for presentation at ENDO 2022.
Forward Guidance
Rhythm expects that its existing cash, cash equivalents and short-term investments as of March 31, 2022 will be sufficient to fund its operating expenses and capital expenditure requirements into at least the fourth quarter of 2023.
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