RYTM - Out Of Rhythm: Setmelanotide Lacks Proper Placebo Controls And Has Plenty Of Adverse Events

Investment thesis: Reduced treatable patient population, lack of placebo and numerous side effects will tank RYTM

Diseases with a common genetic origin can be addressed with a single bullet drug or gene-therapy. Rhythm Pharmaceuticals (RYTM) is instead applying a “hammer” to repair genetically driven obesity. I believe low efficacy for the majority of the patient population, inherent flaws in placebo design (treated patients exhibit darkened skin, which distinguishes them from non-treated, not allowing a true blind comparison) and numerous adverse events will result in FDA rejection of Setmelanotide. A negative FDA outcome will