Rhythm Pharma rises as FDA grants priority review for genetic obesity drug

Rhythm Pharmaceuticals

26/08/2024 15:42

** Shares of Rhythm Pharmaceuticals  RYTM.O  rise 2.4% to
$47.24 in morning trade
    ** Co says the U.S. FDA has granted priority review to its
application to potentially expand the use of its genetic obesity
drug, Imcivree
    ** Drugmaker seeks an approval in children as young as two
years old who have obesity due to a genetic disorder
Bardet-Biedl syndrome, or types of hormone deficiencies 
    ** Priority Review designation means FDA's goal is to take
action on an application within 6 months, compared to 10 months
under standard review 
    ** The FDA will give its decision on Dec. 26
    ** YTD, stock down 2.2%

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))