Rhythm Pharmaceuticals Surges in Market with Upcoming Catalysts
Rhythm Pharmaceuticals (NASDAQ: RYTM), a biotech firm focused on rare genetic obesity disorders, has seen substantial growth with a market cap of approximately $6.8 billion. Its only approved drug, Imcivree, reported sales of $194 million in 2025, up 50% year-over-year. The company anticipates FDA approval for Imcivree to treat acquired hypothalamic obesity (HO) on March 20, 2026, which could expand its market significantly, given that HO affects an estimated 10,000 patients in the U.S. alone.
Rhythm is also progressing its pipeline, with plans to enter Phase 3 testing for its oral MC4R agonist, bivamelagon, in 2026, alongside results from two Phase 3 studies expected in early 2026. However, potential risks include the uncertainty of FDA approval and the company’s unprofitability, which currently has enough cash to operate for the next 24 months.
