Shares of RYTM are trading 25% higher today. Here's why:

Rhythm Pharmaceuticals Inc (RYTM) is trading 25% higher at $8.35 today. The shares jumped on news that the burgeoning biotech announced positive results from a phase 2 clinical trial of the drug Setmelanotide in the fight against hypothalamic Obesity.

Rhythm Pharmaceuticals Inc has been trading between a 52-week high of $20.21 and a 52-week low of $3.04. The stock has a market cap of $421 Million.

Rhythm is a commercial-stage biopharmaceutical company committed to transforming the treatment paradigm for patients living with rare genetic diseases of obesity. Early-onset severe obesity may result from genetic variants within the melanocortin-4 receptor (MC4R) pathway, a key hypothalamic pathway that regulates hunger, caloric intake, and energy expenditure, consequently affecting body weight. Rhythm is developing setmelanotide for the treatment of rare genetic diseases of obesity that arise due to an impaired pathway, as setmelanotide has shown the potential to restore impaired pathway function.