Rhythm Pharmaceuticals Announces Preliminary Fourth Quarter and Full Year 2024 Net Product Revenues, Pipeline Advancements and Upcoming Milestones

Core Insights - Rhythm Pharmaceuticals reported preliminary unaudited net revenues of approximately $42 million for IMCIVREE (setmelanotide) in Q4 2024, marking a 26$130 million for the full year 2024, compared to $77.4 million in 2023 [1][3] - The company is on track to report topline data from a global Phase 3 trial for setmelanotide in acquired hypothalamic obesity in the first half of 2025 [1][4] - Rhythm has completed enrollment in a supplemental Japanese cohort for the Phase 3 trial and plans to initiate a new Phase 2 trial for Prader-Willi syndrome in early 2025 [1][12] Financial Performance - Preliminary unaudited net revenues for Q4 2024 are expected to be approximately$42 million, a 26% increase sequentially from Q3 2024 [3] - Full-year 2024 revenues are projected at approximately $130 million, significantly up from$77.4 million in 2023 [3] - U.S. sales contributed approximately 74% of Q4 revenues and about 73% of full-year revenues [3] Clinical Development Pipeline - The Phase 3 trial for acquired hypothalamic obesity is progressing, with topline data expected in the first half of 2025 [4] - Enrollment for a 34-week substudy in congenital hypothalamic obesity is anticipated to begin in Q1 2025 [5] - The Phase 3 EMANATE trial has completed enrollment, with independent data readouts expected for each genetic cohort [6] Upcoming Milestones - Rhythm plans to initiate a Phase 2 trial for Prader-Willi syndrome, enrolling up to 20 patients, with a focus on safety and tolerability [12] - The company expects to report topline data from the Phase 3 EMANATE trial in the first half of 2026 [6]