Rhythm Pharmaceuticals, Inc. (RYTM) jumped 35.72 percent to $88.41 after announcing promising topline results from its Phase 2 trial of bivamelagon, an investigational oral MC4R agonist, for treating acquired hypothalamic obesity.
The stock opened at $77.97 and reached a high of $88.83 on volume of 3.5 million shares, far exceeding its average daily volume of 638,000. Rhythm is trading at the top end of its 52-week range of $40.61 to $88.83.
The drug demonstrated statistically significant reductions in body mass index over 14 weeks, including a 9.3 percent drop in the 600mg cohort and a 7.7 percent reduction at the 400mg dose. In contrast, the placebo group saw a 2.2 percent BMI increase.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.