Rhythm(US:RYTM) Globenewswire·2025-08-05 11:00Core Insights - Rhythm Pharmaceuticals reported a net product revenue of $48.5 million from global sales of IMCIVREE® (setmelanotide) for Q2 2025, marking a 29% increase sequentially from Q1 2025, primarily driven by sales for Bardet-Biedl syndrome (BBS) [6][9] - The company presented strong Phase 2 and Phase 3 data demonstrating the efficacy of bivamelagon and setmelanotide for treating acquired hypothalamic obesity [2] - Rhythm strengthened its balance sheet with a public offering that raised approximately $189.2 million in net proceeds [5] Financial Performance - Revenue from global sales of IMCIVREE was $48.5 million for Q2 2025, compared to $29.1 million for Q2 2024 [9] - R&D expenses increased to $42.3 million in Q2 2025 from $30.2 million in Q2 2024, attributed to higher drug formulation and clinical trial costs [10] - SG&A expenses rose to $45.9 million in Q2 2025 from $36.4 million in Q2 2024, driven by increased headcount and marketing costs [11] - The net loss attributable to common stockholders was $48.0 million for Q2 2025, compared to a net loss of $33.6 million for Q2 2024 [14] Clinical Development Highlights - U.S. and EU regulatory submissions for setmelanotide in acquired hypothalamic obesity are on track for completion in Q3 2025 [5] - The Phase 2 trial of bivamelagon met its primary endpoint with significant BMI reductions [5] - Data from the Phase 3 TRANSCEND trial showed a 19.8% placebo-adjusted difference in BMI reduction [5] Upcoming Milestones - Rhythm plans to host an event on September 24, 2025, to discuss its global launch strategy for setmelanotide [7] - The company anticipates completing enrollment in the Phase 1 trial for RM-718 in Q1 2026 and announcing topline data from various ongoing trials in early 2026 [12] Cash Position - As of June 30, 2025, the company had cash, cash equivalents, and short-term investments of approximately $291.0 million, not including the $189.2 million raised from the public offering [8][21]