Rhythm Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 07:05 am EST
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Rhythm Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 22.5 million compared to USD 4.28 million a year ago. Net loss was USD 44.16 million compared to USD 40.86 million a year ago. Basic loss per share from continuing operations was USD 0.76 compared to USD 0.79 a year ago.
For the nine months, revenue was USD 53.19 million compared to USD 14.85 million a year ago. Net loss was USD 143.05 million compared to USD 138.63 million a year ago. Basic loss per share from continuing operations was USD 2.5 compared to USD 2.73 a year ago.
Rhythm Pharmaceuticals, Inc. is a commercial-stage biopharmaceutical company. The Company is focused on advancing its melanocortin-4 receptor (MC4R) agonists, including its lead asset, IMCIVREE, as a precision medicine designed to treat hyperphagia and severe obesity caused by rare MC4R pathway diseases. IMCIVREE is approved by the Food and Drug Administration (FDA) for chronic weight management in adult and pediatric patients six years of age and older with monogenic or syndromic obesity due to proopiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1 (PCSK1) or leptin receptor (LEPR) deficiency as determined by an FDA-approved test demonstrating variants in POMC, PCSK1, or LEPR genes that are interpreted as pathogenic, likely pathogenic, or of uncertain significance (VUS); or Bardet-Biedl syndrome (BBS). It is evaluating setmelanotide in Phase II and III trials for the treatment of obesity due to variants in one of numerous genes associated with the MC4R pathway.
RHYTHM PHARMACEUTICALS, INC. 
