Rhythm Pharmaceuticals receives orphan drug status in Japan

Rhythm Pharmaceuticals announced on Wednesday that its treatment setmelanotide has received orphan drug designation in Japan. This designation is for treating acquired hypothalamic obesity, a rare condition that affects a person's ability to control weight. The company plans to reveal top-line data from its Phase 3 trial in the second quarter of 2025. This is an important step as it seeks to bring the treatment to market. Recently, Rhythm Pharmaceuticals reported its fourth-quarter financial results for 2024. The company had a loss of $0.72 per share, which was slightly worse than expected. However, its revenue of $41.83 million beat estimates by about $3.35 million.