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Sep 30, 2022
Rhythm Pharmaceuticals Q3 2022 Earnings Report
Rhythm Pharmaceuticals reported transformative Q3 2022, marked by progress in IMCIVREE® U.S. launch for Bardet-Biedl Syndrome and EC authorization expansion.
Key Takeaways
Rhythm Pharmaceuticals reported its Q3 2022 financial results and business update, highlighting the U.S. launch of IMCIVREE® for Bardet-Biedl Syndrome with strong demand and the EC authorization expansion for IMCIVREE. The company also completed a $140 million public offering, extending its cash runway into 2025.
IMCIVREE® U.S. launch for Bardet-Biedl Syndrome progresses with strong demand, with over 120 prescriptions since FDA approval.
EC authorization for IMCIVREE expanded to include BBS; UK launch in POMC and LEPR deficiencies underway.
Setmelanotide received FDA Breakthrough Therapy Designation for hypothalamic obesity; Phase 3 trial expected to be initiated in early 2023.
Successfully completed $140 million public offering, extending cash runway into 2025.
Rhythm Pharmaceuticals
Rhythm Pharmaceuticals
Forward Guidance
Rhythm expects that its existing cash and cash equivalents and short-term investments as of September 30, 2022 will be sufficient to fund operations into 2025.