RYTM - Rhythm Pharma wins Canadian nod for weight loss therapy

2023-05-08 08:53:22 ET

• Rhythm Pharmaceuticals ( NASDAQ: RYTM ) announced Monday that Health Canada approved its weight management agent Imcivree as a subcutaneous injection for patients aged six years and older with certain rare genetic diseases of obesity.
• Accordingly, Imcivree will be indicated for those with obesity due to Bardet-Biedl syndrome (BBS) and certain patients with deficiencies of biallelic pro-opiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1 (PCSK1), or leptin receptor (LEPR).
• The approval follows a priority review conducted by Health Canada on late-stage data for Imcivree in obesity due to BBS as well as POMC, PCSK1, and LEPR deficiencies. Rhythm ( RYTM ) expects to launch the product in Canada in the coming months.
• Read: In August 2022, Goldman Sachs upgraded the commercial-stage biotech to Buy from Neutral, citing the potential of Imcivree, also known as setmelanotide.

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