RYTM - Earnings call transcript Q2 2022 | Rhythm Pharmaceuticals, Inc.

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Operator

Thank you, ladies and gentlemen, and thank you for standing by. Welcome to the Rhythm Pharmaceuticals Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. At this time, I would like to turn the conference over to Mr. Connolly. David begin. please Sir,

David Connolly

Dave Rhythm of Pharmaceuticals. I'm Communications and here at Connolly, you. IR Head Corporate Thank

controlled the For result future constitute conference materially forward-looking or page which with you slides and prospects, that call, most of on the forward-looking going those various you a from statements ir.rhythmtx.com. contains indicated and results accompanying our can differ SEC. statements. participating our the including website this be I'll plans the may call section expectations, quarterly factors, of Events via at the by Investors to these remind those accessed concerning by as in file those of important Actual report discussed on annual remarks recent

views I'll call our today that Meeker, X. Officer press as upon such President Vice dates. Vice Head calling will being available And to David financial is Rhythm; the now results represent statements Mazabraud, statements. Boston here slide of and France in over Yann turn Executive that, our Executive be only, We obligation on morning, call should North of Chief Executive of forward-looking President, President, Officer, me Jennifer Chien, of a America; second On Hunter on any representing Smith. specifically we addition, are update, of Head to International. and David, as website. and release is Chair, any and quarter Financial with Chief in who With which relied from update our business XXXX provides This views our our not our as subsequent any today disclaim In issued

David Meeker

morning. and that very tuning a to you our months. for All It's past readouts, cash strong successful approvals, with data between exciting speaks Dave. all quarter extending financing to And royalty deal. recent in thanks Thank few regulatory the been runway a you, new another of this a

progress on update our of markets. to launch make share the IMCIVREE very BBS in we're the continue our here the ongoing weeks in first So, eager we the to six and international US

on Let's start slide X.

BBS, matching we a more the management are leading good a precision Rare you have even with So, moment medical in really And starts are also a it's of and then two We're disease executing medicine options this growing that's the to difficult. there unmet difficult a disease start same. strategy. have that in and of optimal for the with which disease. many It's with needs. number a will is to global medical obesity, Yes, but but Obesity not for more it our are been Jennifer obesity that launch IMCIVREE is general understanding management provide launches growing therapy. Well, all up disease, understanding not one there's is diseases. developing clear much I forecast. appropriate color. on

any rare this timelines The these conviction us. us opportunities don't you judge questions major approvals therapy, work, incredibly in but first total a question Europe. health numbers, of important can't and leading disease launch. they it six short for think of will turn up Europe, the there, early, is our early process will are to the to reimbursement with will the prescribing increasing work is reflective find will answer opportunity update done for can call the start, of are the getting opportunity. steady, systems. it, It the care are Europe So, you the better-than-average on I'll We're markets in strength start the That we positive. This a therapy, and doctors represents will In patients, the all reimburse? all good prescribe, system yes. seek the you those doctors is do very said, progress our months. want good The experience in international Patients remarkable specifically Yann they at is is on each

As Yann Europe health more and IMCIVREE. organized, times care better from hear systems are today, said you patients identified we again is will many have embracing those and

Finally, we And the progressing subsequent briefly to well. the new I of of programs development are other obesity still all have hypothalamic release, much obviously the We're will excited do discuss equation. side which about on development our on recent data, slides.

if preclinical presentation, activity clinical element classic and decrease levels, to data expenditure with majority expenditure about less XX% Interestingly, of hunger to will patients. a the condition obesity injury as of patients impairment to with obesity last off of development that involve literally remind develop X, quite the have hypothalamic you potential unifying that including slide energy a in their and period I growth the are not weight rapid tumor exploding explain the is which itself, apparent with Patients we to we and short on to these all call not the referred on will slide to probably the weight arising the the more pituitary clearly brief pituitary obesity. or the slides these hypothalamus, weight due a this point but which And the to On Abuzzahab two of hypothalamic the a interim require strikingly, likely energy impairment tumor change striking, patients area their that with a low. both development from consistency. Patients potentially [indiscernible]. who Moving an of hypothalamus to with become call. the the trauma. to are radiotherapy in a hypothalamic area tumor Dr. to expenditure, can injure results experience Their either on do importantly diseases, hyperphagia, the and resting as in loss XX are presentation not the these and that energy And MCX Tumors XX% go hormones use and about the of top anatomy. associate surgery pituitary clinical are gain them the all an both or, is with in develop to patients to chart, MCX to in hypothalamus, treat going of about hypothesis critical presentation shared in hypothalamus first hypothalamus hyperphagia temporally pathway injury both hypothalamic pouch. hypothalamic Abuzzahab call response all used injury to replacement All the next to degree to tumors but so junction showed HO the they're slide that rare I'm you obesity. the active Patients why in associated the we related is and develop expenditure, last of excited the the and/or and supporting the in setmelanotide to for of obesity. children consequence and pathway used increase here, a XX prior and new the X. to primer time, remind the the last rapid discontinued for a patients of a This is good, the much patients differentiates with situations, gain, includes is the pathway. three patients you Dr. to week, that on points between MCX Rathke's energy does same not classic the inflammatory extent the on example

autonomic is Now, receptors would working have clinical receptor nervous which that the through targeting likely in system residual evidence consistency to critical medicine hypothalamus with we a consistent MCX play results setmelanotide in the improvement. the in MCX addition precision in and outside energy That X. hypothalamus, a expenditure. through Slide role receptors the suggest working interact

rare complication is unlike a identify this to number they with This and our ability these disease. understood patients. who patients diagnosed, their So, has a they advantages regard it of are. a rare management. tumors is reach The very and of many well know But are diseases, to

Our order median resected incidence, reflecting about to HO. who for a that these of develop had of patients than will with at There old the about X who to seeking X,XXX reason prevalence out US. years. believe no in the know XX year best uncertainty yearly years. XX% tumors about was XXX their XX understanding We with population survival of is their range XX overall per more HO, to on the is tumor about a help intracranial age XX-year XX,XXX assuming is The benign patient [indiscernible] is the

so As in different fundamentally Europe, always, we be are although that assessment. we Asia, is data epidemiology may have shared early our and not in different not US in

to And meeting our forward patient full So, the meeting. at with to our look end possible next data in HO present in the FDA. requested as important why steps, early forms. the a impaired goal from cohort scope so initiating to In defects genetically our acquired we genetic fall we and Phase of Phase as Slide X X as pathway is MCX summary, We've the trial XX expand XXXX. is X. the

Three, in three, approved So, many – as although obesity. one therapies, for of into diseases. And it the Reminding Patients four, of to complications insights targeted of Two, been side of a supporting a hypothalamic of management energy pathophysiology receptor disease, the requiring forms one identified tried. the diseases. most driver Rhythm. genetic injury. not it And incredibly is, some is have is There's medical of a and the in key again, reinforces unmet setmelanotide which opportunity in MCX are a of importance you high. other pathway system the medicine testing obesity is are validating agonist evidence required. – the the pathway to HO. importance is the it's of pituitary provides role need the and manage exist MCX provides care no meaningful no underlying equation, the specialist MCX potential an cases, further with engaged many Patients MCX key expenditure further but endocrinologists and potentially the

So XX, here's slide pipeline. our on

MCX progressing patients, mix study X. our mid-XXXX. is POMC, of of BBS LEPR an pathway diseases. in we to and the age. announced this potential addressable in a pipeline enrollment of and enrolled important of multiple completion expected note, an with specific On has with contributors trial today X the readout between ped ages with meaningful This Our is portfolio a And

data patients genetic start early genetic group. screened has that, a often help. over encouraging to start and they probability that our test US. from a problem at know definition, talk age. of by know our early As our genetic about this to screening, With it diseases, suggests turn a higher Jennifer these Jennifer? Patients being manifesting their child the we Many seek and positive somewhat of age I'll are in an in

Jennifer Chien

starting slide I'm on David. to Thank XX you, going be today.

hyperphagia and IMCIVREE and to So, IMCIVREE report BBS to additional root mix approved development to the FDA with BBS. and onset is are the to Physicians we the of bring And obesity early therapy launch are only proud pleased targets that is are lead really writing the patients. severe cause we prescription. are IMCIVREE that initial patients patients in to with receptive commercial off start. strong a therapy. is initiating payer The

identification and engagement BBS growing slide. BBS the unmet are running. physician a patient Rare providers efforts learnings protect. strength. our starting as But their Next drug past are commercialization and team Rhythm, position a meets disease months, and well in high assembled LEPR the caregivers patients, all a PCSKX a the and to care launches community for over need, and up experienced from here are of Thanks we BBS difficult launch and from of extensive as to XX we POMC, challenging we with that at have health

quite year, executed to strategy our of XXXX. March engaged approved territory initial beginning ago, with for on and and we the IMCIVREE educate the managers June deliver on IMCIVREE September physician deployed exciting June us. indication, Beginning about community, IMCIVREE. able making that were six we July commercial MCX in for of was of availability pathway, XX, on BBS, As them our now we weeks

of recent meetings And programs. timing in in Atlanta, got the of had cross speaker and presence several following, therapy information present our and shipment to and with events, All functional hear and fields activity, after approval. local presentations were conference. of XXX a total not could led significant XX. hyperphagia weeks our BBS national on the the Boston. June and BBS. IMCIVREE to week physician the a we families to virtual robust better X approval regional prescription IMCIVREE There June XX finally teams Our live with the including in approval events of here excitement in at and seven background to was days of prepare and first launch IMCIVREE We on the more these one-on-one at following data together a a over obesity of than after our at Quickly foundation marketing the schedule during post having BBS ENDO attendees for at first the engagement events have able receipt our community activities been two these treat BBS held severe

on for call, to Next in two this prescriber the approval slide. of initial FDA the for weeks But launch had June account effectively and XX, want of With remaining that quarter. we metrics the share second of weeks prescription purpose launch. we six

sources in health the care of talked have and different patient provider We identification about past the engagement.

already by outlined providers have of territory the managers BBS Rhythm with identified We prioritized engagement diagnosed patients.

Fighting the Foundation BBS a Blindness. at with and Marshfield In as collaborative patient Association, including advocacy with Family well as addition, have and organizations, Foundation we team strong engagement

non-personal providers report efforts we our All we are XX expand to current greater where have XX patients patients from We state received or physician. promotion healthcare XX, as and of our over for education excited unique to IMCIVREE targeting BBS led reach. prescribing than to executed also July efforts these that, prescriptions

Next slide.

XX greater than with who BBS. patients are So these

new mix have the commercial of a Rhythm, with and our through that third converted between age a patients. and physicians were physicians the or of identified of managers, come are clinical drugs patients older, is aged third expanding between We territory to age, with BBS third physicians. XX managers far are targeted physicians and patients from to and XX so who years engaging about and evenly to XX distributed trial XX. our additional excited have XX% them a XX% we reach ages X with by territory The

general or days, prescriptions is IMCIVREE of coming but medicine BBS. of endocrinologists BBS It's the remainder our slide. medicine from endocrinologists, from practitioners, our snapshot pediatric come for with family initial or here practitioners, for pediatricians, Almost early a Next geneticists. internal prescribers medical half

about a payers XX% standpoint, coverage we Medicaid. see and From payer slide. Next XX% are commercial

own so to analysis Although therapy, there motivated patients, prescriptions with patients, work written of line Medicare, team secure active and for patients them to their our based XX with more CRIBBS for are to need expectations as and several teams many payer This is database. we state opportunities together there including And real our with BBS with coverage, coverage us well. including and engagement, prioritized of in secondary are our covered patients by all physicians seek importantly, corporate reimbursement people on accounts these a Medicaid, have certain a engage willing have throughout our states process. for real with the reimbursement for

also their with mentioned InTune calls. consents, Next engage and achieve access expectations patient with treatment slide. adherence ability team sustain set a our and of physician helps the and their engagement their to therapy. with support build us services, InTune, caregivers. patient When continuity They insurance. and our patient Rhythm prior supportive Rhythm patients to our and support enables I've on and educational

BBS Overall, by six the slide. the excited weeks first of launch. we're Next

international patients, diagnosis, we accomplishing to do, and to region. have me and disease it state the find a initiation out progress provide Yann on will to set physicians physicians the diagnosed reimbursement pathway on additional an get educate IMCIVREE an that, in educate and the insurance facilitate on therapy. who everything coverage my accurate patients IMCIVREE, Mazabraud, seamless help are on to MX BBS the over update let colleague, With turn We

Yann Mazabraud

is are syndrome. And indications, important IMCIVREE for is I will Slide an our already as morning, Jennifer. across reminder market identified for start many Bardet-Biedl everyone. you, a that with especially Thank there initial good XX patients – Europe

organized diseases. established standard pathway There are testing especially genetic better MCXR past, we spoken these the disease. around and centers the As rare excellence networks advanced is diseases, more rare are European referral health in around care have of and for

For receiving patients. are patients the have diagnosed estimated to POMC, X,XXX already is PCSKX LEPR and their who and importantly, European XXX XXX patients, disease. biallelic for But prevalence about identified care we

European their know for XX medical there X,XXX, care that are to with diagnosed patients BBS. European For is with more patients And are more receiving disease. prevalence centers, who be syndrome, about approximately XX each than with estimated are while we academic and than Bardet-Biedl X,XXX there patients

slide Next please.

and controlling France and and weeks in treating the obesity and the LEPR for the course, South NICE interaction UK. European in and Europe. PCSKX experts a healthcare authorities, PCSKX Germany. We've positive support deficiency recommended we by POMC, hunger, Also will from already in POMC, ago, a various in few had launch for very For obesities, have the have we access strong IMCIVREE with we UK market LEPR, of October and achieved

also by a In of launching Spain the few Netherlands the have end reimbursement in We submitted year. and anticipate Italy weeks ago. this Sweden, and we the dossier

We those. expect inpatient identified early and patients to in an reimbursement And on and in are Argentina, have currently seeking we Israel for launch XXXX. basis

slide Next please.

We in are, syndrome about Bardet-Biedl for many reasons, very Europe. excited

First, as in excellence know Netherlands care the Kingdom, I diagnosed we that centers United at there also of are approximately Germany, but patients receiving in Turkey. France, and Italy, Spain, in said and of the X,XXX beginning,

Beales, bodyweight. leading Philip experts treatment are can significantly of looking hunger the syndrome Dr. Bardet-Biedl reduce that syndrome Bardet-Biedl world's living said, on these for one with As and patients confirmational

expected obesity of October. syndrome. Second, pediatric patients opinion EMA The the recommendation and Bardet-Biedl in include of know to is Commission genetically marketing have from its in the for with authorization control extend the final current older and to authorization we hunger the come X and IMCIVREE adults to age CHMP to treatment positive years of and confirmed European

EMA in [indiscernible] all our Germany, already. with submission. application begin that the whom engaging very the soon submitted MHRA through to Spain, and allows very authorities and of with IMCIVREE Bardet-Biedl procedure, will Reliance familiar Italy syndrome have an we And we report the can UK leverage I for Third, us to which finally,

in done PCSKX a United work As with and support syndrome LEPR effort. our related has which foundation, our laid will the States, strong POMC, Bardet-Biedl

but in why please. of not few home recent, unique a achievement. That's words I'm Next a teams' successes very about to few a France us country least, slide of I and many proud think, team. Last, international is my the and here. very own our

to France, XX available. record and early with health approximately is approval, early with of comprehensive approval. this LEPR I through which treatment to APX of in a the early receiving efficacy US that, over The Bardet-Biedl turn following when need unmet we'll March achieved recommendation APX for for AP restriction granted PCSKX data. very hyperphagia clear and EMA are balance IMCIVREE for national covered to France, fast progress year, no for system days safety And there with APX fully syndrome Hunter. treat back called are CHMP did is program. syndrome patients innovative a pre-approval also when a this just conclusion, time XXX FDA and rapidly, and so POMC, the review any reimbursed therapies severity the disease. we have for identified be patients Following a the The French that In the the and by to is no and Bardet-Biedl in program was the Europe. I in benefit-risk With APX before diagnosed in we exciting and other therapeutic access making the positive recognized and in access access only even We for granted this and believe France IMCIVREE following label. allows alternatives therapies quite is will

Hunter Smith

very you much, Thank Yann.

Rhythm. interest XQ announced detailed agreement confidence cap leading is of to And potential up this $X.X of the while XXXX enables for pharmaceutical X, syndrome, financial this we comparable The This investment both to shareholder continued in also we've which IMCIVREE million cash results invest license to upfront no recognition in IMCIVREE snapshot in well Cost on and value. $X.X significant QX in licensing million goods million from XXXX. revenues XX, of second year-to-date associated the IMCIVREE commercialize financing resources spending. flow received in the a this Turning for to has SG&A relates to million compared BBS generate million increases commercial revenues when commercial US $X is payment a well from to XXXX. of Rhythm's contributed second that Partners XXXX exclusive for with the slide a in revenue new and costs. and headcount extends the the growth to as as Rhythm Royalty RareStone one as HCR's as as BBS additional as XX, approximately business impact for us the runway royalty include have that to as of was investors international as contribution XXXX. in $XX.X X of million also their for XQ in at of avoiding for revenue This Rhythm's million compared in revenue previous $XXX Healthcare IMCIVREE we our to in agreement. million quarter Bardet-Biedl US, here approved China. streams $XX.X DAYBREAK on fund commercial well due this compared in in preserving of $XXX,XXX were Healthcare equity our paid was registrational QX compared driver the in of demonstrates our Royalty in in slide due driver our trial the We EMANATE with $XX.X On quarter. described second revenue in signed weekly the primary expenses original patients with expenses our increase Structure XXXX to quarter. Ipsen This June revenue reported France. product X increase The into Phase of products. of to indications. the second and of June, to primary the agreement, to quarter million Phase Partners XXXX. formulation clinical a a the and of as increase launch previous licensing of quarter the XXXX. resulted in we in of to study, commitment the under slide Rhythm's quarter XXX R&D dilution studies well for in for Both for to two financial $X.X as milestones primarily ran modest quarter business organizations. bulk the study, access were Ipsen COGS and sold as product royalty commercial cash $XX.X during of for our commitment The amortization is totaling Germany sales half Rhythm's include XX%

was count during used loss basic share was Our million Cash operating shares quarter. share by XX.X per $X.XX. common diluted and and million activities was the $XX.X

flow cash million of We milestone of strong addition, Europe. in to short-term included the for million which the $X cash In including commercial investments payments first cash, position Thank David BBS, to concluding EU in be equivalents to with we a from least I'll $XX.X million, $XXX.X and investing the call over activities Ipsen the IMCIVREE a financial upon sale concluded turn to quarter for tranche second now fund approval remarks. Rhythm's will we operations receive the for additional through of are at you. believe, back XXXX. sufficient entitled And half

David Meeker

Thank you, Hunter.

So, you've approval, I believe as toward runway, hopefully, really we strong cast Europe, start reception and this a good very understood, US BBS launch. extended quarter. encouraging is think, a in

back to we indications on it Our to forward turn with advance much begin to that, are in our we'll of very progress looking continues obesity. hypothalamic to the operator Q&A. and And pipeline updating

Operator

[Operator Instructions].

or the from comment comes question Company. line Philip first and Cowen Nadeau Our of from

Philip Nadeau

HO. on one then launch, BBS the on Couple

base for in you initial with launch, And How the do are to market? is physicians target you BBS? who's XX that think the many going mentioned have breakdown written. of writing ultimately physicians consistent be BBS the the On there prescriber

Jennifer Chien

BBS. As outlined, who you HCPs current HCPs, have greater for XX XX prescribed than current

patients XXX We with have their have we physicians within past outlined XXX BBS that the practice. approximately in approximately identified

still territory with additional have physicians drugs have to them. we who and our yet the prescribed are So, continuing not managers engage

our are to addition, as quickly as of forward get in to patients possible. an In efforts move continuing to additional accurate diagnosis disease education we terms

we will this forward also So, population activities. we with that expect increase our physician move as

target and pediatric we endocrinologists of specific prescribers, endocrinologists. including, do specialties terms In

However, there terms ways about we education that in targeted are of additional go our efforts.

endocrinologists will pediatric endocrinologists that will do terms physicians in coming also I of be of the So, care that in overall. specialty care patients additional of patients, these believe will key a physician the taking the be and but participating BBS remain up

Philip Nadeau

a it's prescription how have is long takes when you early of written until is appreciating in it reimbursement the sense Do from the secured, launch.

Jennifer Chien

encouraged launch, things as of the terms early as are early been This indication going I received, we scripts how now, it's post the there still launch, as in that in in of early, think, days right be are been to are shipped. in going this have approved IMCIVREE. of evaluating that process payers expect evaluation there's for well as time still new terms we have

and days, take can longer that of anywhere scripts specific probably terms XX even formulary So, to from XX in to just reviewing get on the itself.

Philip Nadeau

Last question on HO.

trial? trial. FDA the need before What of with be really to agency how before structure to X the you do could design to you key implement the the can FDA initiate? you think Are Sounds like there good the controversial you from elements you you you have of that Phase idea want pretty clarity or need a points check

David Meeker

trial. debate answer a know for guidance think the still starting I The be is we've large a trial. And it We'll going as where it size see point large needs to a doesn't obesity. the trial. call, we where of I in. last know. We to very we double-blind, randomized, I'm don't trial, sure that. development said said, don't year-long specific we need that mathematically, think seen. is on guidance it's be which given there's That's that that's I is to What it'll goes. going drugs controlled The short in our the probably be don't effect a are,

be require that'll the statistically the safety. and efficacy trial size point doesn't prove indication, drug this the so in to new to So, support a many discussion. safety of of The patients of

We've setmelanotide. the are So, trial MCX agonist, this been elements. with before, through those

short So, three out. important answer so iron need really controversial. is we'll not pieces But to two there's or

Operator

Wells Derek Our line the comes from next comment Archila question of from Fargo. or

Derek Archila

about excited here. the quarter. Congrats to A on lot things be of

help of tens of patients So, few of Maybe patients? start, thinking couple are France, thoughts the of that patients POMC, conversion numbers, for you've PCSKX any then, light understand Europe, treatment? can where early, my and for BBS about seemingly You question those the some be of is a scripts are years in just you written therapy receiving to in guess, just you're first from seeing And helpful. your but might you I the identified LEPR the for be questions patients are on of having you actually there us. the talk just us the the all can second news new put on in it launch, out and I would positive. in know

David Meeker

comment conversion. a quick BBS Jennifer on on second, Maybe and the question the first

– So think, are where of tens I we're patients, the consistent It's with highly descriptive. we today. is sticking

does approval highlighted has I have thrust are how your think markets across of question far identified the markets patients so the Yann fact those coming that Europe the major about we was that. XXX on. the in major impact and

think much biallelic seeing the will Europe with started change Incredibly of hindsight the And suggests as the And going BBS largely us in our but the fortunate then, in And we're it's that what opening so in foundation getting launch. point. this XXs. positioning with that scenario, constructive, because us right very with engage up into that leave strong to success group. market. non-threatening overall now we course, the patients was to taught allowed way, if around very in some I also laid those this a it's early for systems entry you it's obviously, up us the will. Hopefully It's LEPR healthcare initial XXs POMC, that, So, still high wouldn't contribute. I about

that's if will, So, I'll leave It's Jennifer you Derek. XXs recommendation BBS? it. on or a where guidance,

Jennifer Chien

able and the grant, both on It's in moving moving days terms scripts and this really patient of forward with process patients post of therapy. need terms drug still and access are are to the of shipped. population we therapy continuing ensuring have been to the approved be In it for a process, in forward just gain in and early approval. with to terms trying And potential where that the are patients. have this we access expect payer of and We we in already that several have did terms to of educate received the denials been there requirements additional that the process

work teams of and at dialogue So, point ongoing the ongoing this with time.

Derek Archila

one those just consistency for that Jennifer. prescribers…? among seeing geographic Is Maybe you're any there follow-up XX first

David Connolly

we think I lost Derek.

you So, put maybe back, him to we queue. If comes can go question. Derek in next back the the

Operator

from Our line Gon from next the comes or question Dae Ha of comment Stifel.

Dae Gon Ha

quarter. the of A us, on too. from Congrats couple questions

follow Are So we first of that you've weeks, different these settled launch, as well on metrics Or BBS of about in metrics great. I've prescribers should breakdown the And in a got then I prescriptions? going you PPL between forward? terms the And congrats and couple on, guess the thinking expect how of looks as the six up HO. derived quarters on first are BBS set revenues?

Hunter Smith

regard with think interested, metrics, following also closely. I we're metrics you're of these obviously, to not all

as insight clear you that provide metrics Our as to goal with give reasonably. is you can we share

it this is call, first that. plus this scripts are clear that base, prescribing who physicians did prescribing, XX the in For

we're are of so this each we'll the what most a commit to at quarter I consistent metrics, going think time. not set to meaningful evaluate metrics

point terms question BBS what of PPL those. the primary at breakout, in evolves. to this market some of in the metric then see that the time, and Let's and are And in you'll ultimately, the…? always become how And question going revenues terms overall have the

Dae Gon Ha

the the two? Yeah, revenue between breakdown

Hunter Smith

specifically. I don't it break know we'll out,

the that's I remain back increasingly percentage think smaller will Derek's total. that of question, patients the overall XXs in and to PPL, the of an become earlier

or that, to the we don't an extension overall. think real are break may progress out not I'll BBS Europe? members it'll US between making with then, of And defer But break I obscure as that. that that now So, going we're we the out. and may Again,

see early, moment, set getting for it's one the about as Let's plays we with you But it regions. of color much how as different give you're all can forward. while numbers the

Dae Gon Ha

to of end to. to I about asking Phil meeting. GLP-Xs that with spoken interest it head the what we've are regards from thoughts to X some the Phase either to or head of early guess, perhaps HO We've your follow-up as study what heard A docs tirzepatide? a pertains was with

there? thoughts any So

David Meeker

a not to we head will head. running sure, For be

meaningfully that's think if destroying be parts is standard care, a have Dr. to refer brain prior setmelanotide. one made disease that is the a only little she whose back as There's of high. which, regulatory them GLP-X case the that ask head conversations had approved and a She you You And anecdotally I other head may the ask put a when overall somebody path the these in also and rule them makes response part response residual comments a if therapy, on established very get GLP-X who's patient XX% a maybe tried is is, there's that that to go another have a you an and of that cases, not in reports same hypothalamic do response generations in work do no this little allow you patient But agonists that a is tirzepatide maybe success. anything and There group? see of this do we has what's for subsequently well she to brain that of The In Again, patient that the approved one. might with X% call. you're impaired. I the where some to the magnitude GLP-X question of this? agonists a the response, more that to how anecdotal respond. question GLP-X. shared about in sense. patients brain know bit class to without I the Abuzzahab patients Number earlier characterized on opinion on for XX%. therapy doing at think obesity. general through? a results physicians, – we tried GLP-X I work their patient to with what early, that might Again, of those strong shared others – an been who individual she where XX% with drugs consistent, had is there of She's

more to going majority our but vast here. because much head a again, head. some So, just different be no role learned. understanding And early it's very may I patients, But, for is means the not have by we're or biology GLP-Xs think sure, help to

Operator

Mr. go Fargo. Wells from Archila Derek to to back going We're

Derek Archila

of was wanted following just she first XX on of Jennifer. I understand if just prescribers BBS, with up geographic had consistency question of that? I kind the the any or a not to comments on

Jennifer Chien

pleased not were quite US. throughout area in that any a From and than XX nation we prescriber greater the had base, to the that were particular actually prescribers localized really throughout say we

particularly we patients not particular within expect that Also, seen terms have our to in and with as identified of that spheres already that in had any case. group area is and this BBS distribution So, the distributed focused we we identified as the remain well. the were physicians

David Meeker

add. just I'll Derek,

on important think different that's questions willing I at to start care the getting as a are really use how script Marshfield become and Dr. We're XX your the were scripts. with all broad-based and fact of that the focused XX questions, engagement their be patients drug inconsistent diseases if learn experience who plus Jennifer here, who thing. and physicians other I these and physicians pleased we're the writing thing That one not is part primary step are it. more these the right expert But and written be this up had It'd plus here. where had following story. are here the in we and prescribe to Clinic metric. have a with sitting Haws But would

disease. multiple you rare very this seen "experts." very And to template much few if following had be only that go is to would the So times in we've There's experts, a challenging. that

You don't. Others step up.

Derek Archila

quarter. the Congrats on

Operator

from Joseph Needham Stringer next Company. Our of comes the comment from or question & line

Joseph Stringer

from And the congrats on the BBS progress. launch. Two on us

patients diagnosed XX know prior any from and you the that a Do to have TRx, is confirmation XX written previously or secondly, US. part on the you mentioned requirements of XX you clarify, it's authorization to the And but the early the genetic Just in prescriptions, those in then have prescriptions XXX BBS I date? testing XXX? or launch, identified encountered requirements

Jennifer Chien

upfront patients different been Certainly, from, engaging that with say written Regarding would with patients it are mix there we've scripts received from groupings. have that our comes I scripts. of the a that have managers that territory physicians

We So, the also various because excited, to very them as But the where also were with from different some can within we were who this of heard approvals, as there the in also engagement we disease HCPs those come also happen to heard had that share had that patient well happy ongoing educate on ways. both of we were also patients non-personal But now patients, promotions, and saw news. news and and the indication, them share physicians. they approval. associations about

to of available So, in word and now who therapies gets physicians seeking CRM source terms patients efforts. And our Rhythm patients. for new are terms out in as comb the finally their it these and are that had outreach also treatments proactively physicians communities, in was just of small heard another either about of these patients part or going other that

is a prior BBS. our PI. in clinical the clinical so authorization, BBS outlined aligned with practice also for Regarding current diagnosis. the was very That what was

genetic the terms of really not a as in part genetic being requirement there So of have PI. we to date, seen confirmation

David Meeker

that identify remind label. other plus to back payers more XX% very part XXX reinforce the And that group. clarification, the what to to you, patients really XXX, early then. the not just scripts Jennifer much that Fair One are that was of it's February. are coming current said, to continued you've just since of no, that a Obviously, say to in quarter-ish, stick in

sight. the and not So line once have system that healthcare therapy, to speak may the who people do on sitting been have the sidelines your does you with of fact in that a reengage

Operator

line Thalmann. of comment the Our Higgins comes Ladenburg from or from next Michael question

Michael Higgins

time Congrats maybe driver we MCX, I data? terrific open again, we're on ID-ed think ask When to for that some year feedback the should next but, on And performance for the you the being provide remind some we seeing. far on spend this for? questions so wanted first, can are How many patients Can I this any from us label how look many us trial? that. in community? looking BBS, we

David Meeker

here. the is fall in a to medical that in with event MCX, The goal association out, our put again, so

of timing exact that. the specified haven't We

always still have receptor with the common of itself, genetic the is, big had the in question – working that But you non driver out. the do affecting you driver we're if genetic So, is a most responsive. the render of This obesity. we've receptor variant monogenetic that variant, receptor

And divide those where who where variant those you'll renders to have their a who from setmelanotide. are receptor between the attempt those groups so, might is hear what – receptor non-responsive to our non-rescuable, response that

on to that. some in But come look more later update So, fall. again, the for here

so question that was the only think far. I

Michael Higgins

on up follow that, to the Just patients? ID-ed number of

David Meeker

[indiscernible]. Well, issue the is of patients many might how X% non-responsive. about your variant a large. of number screen be might versus those responsive on real again, But, have The is very

Hunter Smith

preclinical our sequencing an an that have genetic or on assay based But done estimate That's that is variants the number. US our rescuable assay, based data in not we've So, in – our MCXR identified XX,XXX the a epi about on patient patients number. gene.

David Meeker

And the preclinical assay. rescuable a by part defined of that is

to try whether So, rescuability. our that challenge and goal to understand be look and will predicts

that. on come So, more to

Michael Higgins

screenings but to how of follow perform didn't had and been call just I versus that's you've years. this the have trending up BBS, another been that able on year question prior was, a we question the number from that – coming into a is

David Meeker

been on We'll genes remarkably and has XX,XXX about screen between that one patients year. track. this each overall frequencies XX,XXX our The we've We're talked for consistent. of

but history not again, And absolutely obesity, what targeting screening us are plus/minus every who reassuring. providers hyperphagia. patients to patient quite really we really those So, we'd is that's of early stronger – not the we're what do, want is which history obesity, a that with onset tells are it of healthcare have been

results. getting consistent So, pretty screening we're I with think consistent

Michael Higgins

more these Thanks. that to they one, do What's that going docs, and out about Have XX% heard, do out think you or these? of if adjust your for receptivity, discussions targeted. and had but what trying just telling to you find marketing how were that reach is prior I One new BBS? in here those so found forward? you, of I IMCIVREE not strategy terms How out your doctors to about these Jennifer with last can could, of the for what I not

Jennifer Chien

therapy. also added out to received educate prescriber [indiscernible] initiated with being scripts, for also As is process as engagement we throughout we our also GMs sure on are go to the understand them of make in patients ongoing and the there's that are terms targets that and able

efforts, have So, across interested which prescribing added efforts because going of are of our patients maybe always promotion and of be reach in top to sphere. their of in come additional of just terms grounds, on just our We expect GMs are they physicians the terms ability do expands grounds. teams who on for the patients, that broad-based will therapy of on non-personal this beyond our our the we

base that the population. we to additional this as move evolve patient continue is prescriber for expect IMCIVREE we So, as going forward physicians of patients to about and benefits and learn the

David Meeker

the on just network. of their the comment social Maybe patient and themselves one role

Jennifer Chien

terms I of foundation rare I within did say think are patient with there organizing in itself. is other, to past BBS the to quite organization. we in just information opportunity opportunity of that the these from job present in quite just IMCIVREE to have for terms they the strongly each organized, nice had phases a terms patients different BBS of itself population, but learn each engage disease, that other, events will within the that,

the nice patient community for So, and strong it's have to such advocacy population. a

David Meeker

go who engage not physician they to motivated they that's these And then but about that point, and heard have may they're and we be drivers. They help the connect. patients learn it, physician about and themselves may it their

Operator

question or of Sachs. line Goldman Corinne Jenkins comes next Our from comment the from

Corinne Jenkins

have you therapy? questions from you're that XX where perhaps think been these initial that you our But points or helpful starting other potential feedback have started, into patients hub of you the patient pain recently any is feedback as any lot identify asked about had already. a think I to coming

Jennifer Chien

that, population. of has The level this really opportunity general, to a in inhouse terms patient disease be say given. incredibly important for PA PA perspective it of but there requirement, happy in just to been very requirements taking. many particular And similarities of the drug this that able Every much this to rare are high we reimbursement, situation our will type aligned also from in early are and with fortunate touch on are of and a have high I post-launch in a service has PI. to in terms is the of outline the type process that's that this

perspective. in So, disease quite terms reimbursement from stage, restriction medication. I was obesity it just in will say of expected particular this CMS of the statutes that, that are there of

us. type that that towards population, a segments, may of, will who for background a including and exclusion. first one the education, And has particular a of remain payers there pass perspective Medicare are there the So, be challenge without reimbursement may source Medicare sort only of that other lean as from the more

educate we dialogue, the through early our IMCIVREE as difference can onset exceptions there particular as terms targeted initial specific also heard to through and and for and in However, opportunities payers obesity, approach the patient have gain causing population the the this such, that the research understand nature the of outlines. of what hyperphagia quite are around is challenges

days through fully a working expected the is being And process. the that's lot early and we're as it's well. So, of done work

Corinne Jenkins

X? on path registrational for you Maybe the is results what the then the the provide separately, forward update us readout a us switch for remind an of timing pending that weekly study potential and Phase formulation, can from just

David Meeker

switch will you out parts, read study in two So XXXX. as know. The

exactly. We defined that haven't further

study, of second is begin XXXX. that the there first so, XXXX. novo the study, which will And be in then, will de And the in half

begin to for that are trial. We waiting the autoinjector

complete And XXXX full filing. set will would so, be of that data that and the a

Operator

Instructions]. [Operator

Hung Stanley. Our from Jeff or line Morgan comes from the comment next of question

Jeff Hung

Congratulations on the progress.

the many You How that new. to? prescribing correspond indicated does scripts patients were identified that XX% physicians of and written

David Meeker

on haven't We split physicians the X basically. given broken is the you What we've out.

of So, we're that. not breaking down sort further than it

sense rare actually I key, I don't you're engagement, what hope as quite information, a your a and reflecting taking you disease, which lot strong in local and of the that, times, we really is this prescribers, think – to away of go is on, script early the breadth it's said CVS. a for many write

step first get of conviction script bit and little a commitment of written. to that takes it the even a So

there. message strong So,

Jeff Hung

beyond What's registry? And the continued in patients? CRIBBS have identify better number identified You XXX of said updated you've the the a BBS. many to do sense plus for with overlap patients them you how of

David Meeker

supports We Rhythm. further. XXX It Everything Rhythm literally in we part was haven't in February. that another updated plus of do

or we're Setmelanotide running, has and the DAYBREAK out with Phase visibility. engaged So, we're has more Phase clinical trials community. trials, X and EMANATE, visibility. IMCIVREE Rhythm X, more the

again, awareness of ongoing education that, and All things, supports including BBS. around

is number up. going that So

feel it updated good but where haven't We we further, about we are.

Operator

time, over this conference I'd management At like remarks. to the turn any back closing to for

David Meeker

The was, question I realize overlap the addressable question didn't Okay, CRIBBS I registry. the thanks. there. with answer

patients don't patients for written know don't prescriptions to of with the in CRIBBS and have those out There not in again, some likely and sure. So, Clinic, we have list know we exactly. of CRIBBS. are is being the we overlap CRIBBS, We Marshfield surprisingly be

have But sure XXX% for some there's overlap. not So for also, overlap. there's sure,

to to as things those overlapping think not about going we're So you encourage completely. complementary,

David Meeker

Again, we're tuning this start morning. in our for really on of build both you to the in all about of better Europe and with With that, here. thanks excited lot to good US and A signals pipeline.

to call we can our when update on look next you So progress. forward further our

everybody. thanks, So

Operator

conference. thank gentlemen, for in you program. and Ladies the today's concludes This participating

have disconnect. now a Everyone You day. wonderful may

Rhythm Pharmaceuticals (RYTM) 2 Aug 222022 Q2 Earnings call transcript