On Today's Call Rhythm Pharmaceuticals Fourth Quarter and Year End 2025 Financial Results and Business Update February 26, 2026 ® © Rhythm® Pharmaceuticals, Inc. All rights reserved. ® 2 • David Connolly, Executive Director of Investor Relations and Corporate Communications • David Meeker, MD, Chair, President and Chief Executive Officer • Jennifer Lee, Executive Vice President, Head of North America • Yann Mazabraud, Executive Vice President, Head of International • Hunter Smith, Chief Financial Officer Fo ...

Group 1: Praxis Precision Medicines - Praxis Precision Medicines plans to submit an experimental seizure drug, relutrigine, for U.S. approval early next year after discussions with the FDA [2] - Shares of Praxis rose by 2% to close just above $267 following positive updates from a different pipeline program [2] Group 2: Rezolute - Rezolute's drug ersodetug failed a Phase 3 trial for a rare genetic condition causing low blood sugar, not significantly reducing the average number of hypoglycemic events compared to placebo [2] - Following the trial results, Rezolute's share price plummeted by nearly 90%, and Xoma Royalty also experienced a double-digit sell-off [2] Group 3: Geron - Geron announced a layoff of about one-third of its 260 employees as part of a strategic restructuring after stagnating sales of its approved drug Rytelo [2] - The new CEO indicated that cost-cutting measures are aimed at prudent fiscal management, projecting lower operating expenses in 2026 compared to 2025 [2] Group 4: Rhythm Pharmaceuticals - Rhythm Pharmaceuticals will advance its drug setmelanotide into late-stage trials for Prader-Willi syndrome after positive early results in a small Phase 2 study [2] - The study indicated that setmelanotide showed potential in reducing hunger cravings and lowering body mass index values, leading to a 12% increase in shares, which have nearly doubled in value this year [2]

Market Overview - The Dow is leading the market with a gain of 1.27%, while the Nasdaq and S&P 500 are down by 0.65% and 0.05% respectively, largely due to Oracle's disappointing earnings, resulting in a $100 billion drop in its stock [2] - The Dow and Russell indices are up 14.9% and 15.9% year-to-date, respectively, while the S&P 500 is up 17.3% and the Nasdaq Composite is up 21.9% [3] Sector Performance - The equal weight ETF ($RSP) is outperforming the base index, up 0.8%, indicating a potential shift in market sentiment as tech stocks weigh on the S&P 500 [4] - 61% of U.S. stocks are in the green today, suggesting a broad market strength outside of the tech sector [4] Notable Movers Winners - Planet Labs PBC is up 34.5% following strong earnings, continuing a trend of strength in space stocks [5] - Rhythm Pharmaceuticals has gained 14.2% after reporting positive results from a phase 2 study of a rare disease [5] - Perpetua Resources is up 12.8% after announcing advancements on a critical mineral pilot plant in Idaho [5] - Vail Resorts has reported healthy earnings, resulting in an 8.4% increase in its stock [6] Losers - Wave Life Sciences is down 16.5% after reaching five-year highs, influenced by a recent $350 million public offering and interim data from a drug candidate study [7]

ConversationDavid ConnollyHead of Investor Relations & Corporate Communications Good morning, everybody. Thank you for joining us today. I'm Dave Connolly, IR here at Rhythm Pharmaceuticals. Before we begin the speaking program, I'll just remind you that this event may include remarks concerning future expectations, plans and prospects, which constitute forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important ...

Core Viewpoint - Wave Life Sciences (WVE) is anticipated to report a year-over-year decline in earnings despite an increase in revenues for the quarter ended March 2025, which could significantly influence its stock price based on actual results compared to estimates [1][2]. Company Summary - The consensus estimate indicates a quarterly loss of $0.27 per share for Wave Life Sciences, reflecting a year-over-year change of -12.5%. Revenues are projected to be $13.97 million, representing an 11.4% increase from the previous year [3]. - Over the last 30 days, the consensus EPS estimate has been revised 0.43% lower, indicating a reassessment by analysts regarding the company's earnings prospects [4]. - The Most Accurate Estimate for Wave Life Sciences is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -1.89%. The company currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat [10][11]. Earnings Surprise History - In the last reported quarter, Wave Life Sciences was expected to post a loss of $0.17 per share but instead reported earnings of $0.17, resulting in a surprise of +200%. However, the company has only beaten consensus EPS estimates once in the last four quarters [12][13]. Industry Context - Rhythm Pharmaceuticals, another company in the Zacks Medical - Biomedical and Genetics industry, is expected to report a loss of $0.69 per share for the same quarter, indicating a year-over-year change of +70.6%. Its revenues are expected to be $40.18 million, up 54.7% from the previous year [17]. - The consensus EPS estimate for Rhythm Pharmaceuticals has been revised 0.7% lower in the last 30 days, leading to an Earnings ESP of -12.84% and a Zacks Rank of 3, complicating predictions for an earnings beat [18].

Core Insights - CAMP4 Therapeutics Corporation has appointed Doug E. Williams, Ph.D., and Murray Stewart, DM FRCP, to its Board of Directors to enhance its strategic guidance in drug development efforts [1][2] - The company focuses on developing regRNA-targeting antisense oligonucleotide (ASO) therapies aimed at upregulating gene expression to restore healthy protein levels [1][4] Company Overview - CAMP4 is a clinical-stage biotechnology company developing disease-modifying treatments for a range of genetic diseases where increasing healthy protein levels may provide therapeutic benefits [4] - The proprietary RAP Platform™ allows for targeted gene upregulation by mapping regRNAs, which are crucial in controlling gene expression [4] Leadership Expertise - Dr. Doug E. Williams has over 30 years in the biopharma industry and has contributed to the development of transformative drugs such as LEUKINE, ENBREL, and SPINRAZA [2][3] - Dr. Murray Stewart has extensive clinical development experience, having served as Chief Medical Officer at Rhythm Pharmaceuticals and held leadership roles at GlaxoSmithKline [3] Strategic Focus - The company aims to advance its lead clinical program for urea cycle disorders and preclinical program for SYNGAP1-related disorders while developing additional RNA-targeting medicines [2] - The focus is on addressing diseases where modest increases in protein levels can significantly impact patient lives [2]