Rhythm Pharmaceuticals Inc: ECE 2026: Real World Data Builds On Setmelanotide Benefits in HO

研报英文原文证据摘录

Rhythm Pharmaceuticals Inc: ECE 2026: Real World Data Builds On Setmelanotide Benefits in HO

Update

May 12, 2026 01:28 PM GMT

Morgan Stanley & Co. LLCMRhythm Pharmaceuticals Inc | North America Michael E Ulz

Equity Analyst

ECE 2026: Real World Data Mike.Ulz@morganstanley.comRohit Bhasin +1 212 761-4650

Research Associate

Rohit.Bhasin@morganstanley.com +1 212 761-0534

Builds On Setmelanotide Avraham Novick

Avi.Novick@morganstanley.com +1 212 761-2231

Benefits in HO

Rhythm Pharmaceuticals Inc (RYTM.O, RYTM US)

Biotechnology | United States of America

Key Takeaways Stock Rating Overweight

Industry View Attractive

France early-access data in HO showed significant BMI reductions and meaningful Price target $136.00

hunger-score gains (n=62) in adults, consistent with Ph3 results. Shr price, close (May 11, 2026) $87.39

Mkt cap, curr (mm) $5,791

A post hoc analysis of the Ph3 TRANSCEND trial evaluated cardiometabolic risk 52-Week Range $122.20-55.31

indices at Week 52, where treatment improved multiple metabolic index scores.

Self-reported questionnaires underreported severe hyperphagia versus expert-led

interviews (7.7% vs 69.2%), supporting expert interviews for better management.

We believe this incremental real-world evidence reinforces confidence in

setmelanotide’s profile in HO and anticipate a strong launch ahead; Reiterate OW.

Early access France data shows clinically meaningful improvements in HO.

Rhythm announced it will present six posters on setmelanotide at The European

Congress of Endocrinology (ECE; May 9-12; Prague; press release). A poster on real-

world analysis evaluating adults with acquired hypothalamic obesity (HO) treated

with setmelanotide through France’s early-access program for up to twelve months