RYTM - Rhythm Pharmaceuticals to sell Priority Review Voucher for $100M

Rhythm Pharmaceuticals (RYTM) has entered into a definitive agreement to sell its Rare Pediatric Disease Priority Review Voucher for $100M. The PRV was granted to Rhythm by the U.S. FDA with the approval of IMCIVREE™, proprotein convertase subtilisin/kexin type 1 or leptin receptor deficiency confirmed by genetic testing. According to the agreement, Rhythm will receive an upfront payment of $100M upon the closing of the transaction. The non-dilutive funds expected from this transaction are in addition to the $201.8M in cash, equivalents and short-term investments Rhythm reported as of Sept. 30, 2020.

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Rhythm Pharmaceuticals to sell Priority Review Voucher for $100M