Shares of Rhythm Pharmaceuticals Inc. (RYTM) surged 5.01% in Wednesday's trading session, following the company's better-than-expected fourth-quarter sales and positive updates on its drug development programs.
The biopharmaceutical company reported net product revenue of $41.83 million for the fourth quarter of 2024, a 72.6% increase from the same period last year and surpassing analysts' estimates of $38.48 million. The strong performance was primarily driven by growing sales of IMCIVREE® (setmelanotide), the company's lead drug for treating rare genetic disorders of obesity.
Additionally, Rhythm Pharmaceuticals provided promising updates on its ongoing clinical trials and pipeline. The company announced that it completed enrollment in a supplemental Japanese cohort for its Phase 3 trial evaluating setmelanotide in acquired hypothalamic obesity (HO), paving the way for a potential regulatory submission in Japan. Furthermore, Rhythm completed enrollment in the Phase 3 EMANATE trial for setmelanotide in genetically caused MC4R pathway diseases, with data readouts expected in the first half of 2026.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。