RYTM - Rhythm Pharma gains as NICE recommends obesity drug

• The commercial stage biotech Rhythm Pharmaceuticals ( NASDAQ: RYTM ) added 7% in the pre-market Monday after the company announced that the U.K.’s National Institute for Health and Care Excellence (NICE) recommended its weight loss therapy Imcivree (setmelanotide).
• NICE, an executive body of the U.K. government, provides national guidance and advice on healthcare.
• According to the company, NICE has issued guidelines recommending Imcivree for treating obesity and controlling hunger caused by the genetically driven pro-opiomelanocortin (POMC) deficiency or leptin receptor (LEPR) deficiency in those aged six years and above.
• In line with the recommendation, Imcivree will be funded and available across the National Health Service within 90 days, Rhythm Pharma ( RYTM ) added.
• Last week, the company shares rallied following the announcement of a Phase 2 data readout for setmelanotide in hypothalamic obesity.

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