Rhythm Pharmaceuticals (NASDAQ: RYTM) Reports Strong Growth in Revenue and Clinical Development Initiatives

Rhythm Pharmaceuticals, Inc., a leader in developing therapies for rare genetic disorders, recently released its preliminary unaudited net product revenues for the fourth quarter of 2024 and the fiscal year ended December 31, 2024. The company announced that it achieved approximately $42 million in net revenues from global sales of IMCIVREE® (setmelanotide) for the fourth quarter of 2024, reflecting a 26% increase compared to the third quarter. Additionally, Rhythm reported approximately $130 million in net revenues for the full year of 2024. The growth in revenue was attributed to an increase in reimbursed patients on therapy and inventory growth in the United States.

The company’s U.S. sales of IMCIVREE contributed significantly to the overall revenue, constituting around 74% of the fourth-quarter revenue and approximately 73% of the total revenue for 2024. Rhythm Pharmaceuticals is focused on addressing severe obesity and hyperphagia through its innovative therapies targeting the MC4R pathway.

In addition to financial results, Rhythm Pharmaceuticals provided updates on various clinical development initiatives. One of the notable updates includes the company being on track to report topline data from its Phase 3 trial evaluating setmelanotide in acquired hypothalamic obesity in the first half of 2025. The company has also completed enrollment in the supplemental Japanese cohort of the Phase 3 acquired HO trial.

Moreover, Rhythm Pharmaceuticals plans to initiate a new 26-week, open-label Phase 2 trial evaluating setmelanotide for the treatment of Prader-Willi Syndrome (PWS) in the first quarter of 2025. PWS is a rare genetic disorder characterized by hyperphagia and early-onset obesity. The company aims to enroll up to 20 patients aged 6 to 65 years old in this trial, with a focus on safety and tolerability as primary endpoints.

With the completion of enrollment in the Phase 3 EMANATE trial and plans to advance studies like DAYBREAK focusing on genetically-defined MC4R pathway diseases, Rhythm Pharmaceuticals continues to expand its reach in addressing unmet medical needs in rare diseases. The company’s comprehensive pipeline and strong financial performance underscore its commitment to bringing innovative treatments to patients in need.

This article is based on the recently filed 8-K SEC Filing by Rhythm Pharmaceuticals, providing insights into its financial progress and significant clinical updates.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Rhythm Pharmaceuticals’s 8K filing here.

Rhythm Pharmaceuticals Company Profile

Rhythm Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the rare neuroendocrine diseases. The company's lead product candidate is IMCIVREE (setmelanotide), a rare melanocortin-4 receptor for the treatment of pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1, leptin receptor (LEPR) deficiency obesity, and Bardet-Biedl and Alström syndrome.