BUZZ-Rhythm falls after US FDA delays decision on drug for brain damage-related obesity
Reuters
Nov 07
BUZZ-Rhythm falls after US FDA delays decision on drug for brain damage-related obesity
** Shares of Rhythm Pharmaceuticals RYTM.O fall 3.6% to $95 premarket
** Drugmaker says U.S. FDA has pushed back a decision on expanding the use of its obesity drug Imcivree to December 20 after asking for more efficacy data in October
** The additional information has been deemed a 'major amendment,' which allows for more time for the agency to review
** U.S. FDA now plans to decide by March 20 on approving RYTM's Imcivree for hypothalamic obesity – Co
** Hypothalamic obesity is a rare condition where damage to the brain's hypothalamus causes uncontrollable weight gain
** Up to last close, stock up ~76% YTD
(Reporting by Sahil Pandey in Bengaluru)
((Sahil.Pandey@thomsonreuters.com))
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