RYTM - Rhythm Pharma's Imcivree drug gets expanded approval by European Commission for BBS
- Rhythm Pharmaceuticals ( NASDAQ: RYTM ) on Tuesday said the European Commission had expanded the marketing approval for its Imcivree drug to include the treatment of obesity and control of hunger associated with Bardet-Biedl syndrome (BBS).
- BBS is a genetic condition that impacts multiple body systems with highly variable symptoms, including obesity and difficulty controlling hunger.
- The expanded indication for Imcivree is in pediatric patients and adults aged 6 years and older.
- With the expanded approval for Imcivree from the European Commission, RYTM said it is now eligible to get an additional investment of $37.5M under a revenue financing agreement with HealthCare Royalty Partners.
- RYTM also said Canada's drug regulator had granted a priority review to the company's new drug application for Imcivree for the treatment of obesity and control of hunger in BBS and biallelic POMC, PCSK1 or LEPR deficiencies.
- RYTM stock +5.2% to $22.80 after hours. It had earlier closed -14% at $21.68.
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Rhythm Pharma's Imcivree drug gets expanded approval by European Commission for BBS