NEW YORK, March 1, 2022 /PRNewswire/ — PomerantzLLP is investigating claims on behalf of investors in Rhythm Pharmaceuticals, Inc. (“Rhythm” or the “Company”) (NASDAQ: RYTM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980.
The investigation focuses on whether Rhythm and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
At February 24, 2022Rhythm issued a press release “announcing[ing] that the United States Food and Drug Administration (FDA) has extended the review period for the supplemental new drug application (sNDA) for IMCIVREE® (setmelanotide) for the treatment of obesity and the control of hunger in adult and pediatric patients 6 years of age and older with Bardet-Biedl syndrome (BBS) or Alström syndrome.” Rhythm informed investors that “[o]not February 23the FDA has informed the company that the Prescription Drug User Fee Act (PDUFA) target date has been revised to June 162022.”
At this news, Rhythm’s stock price plummeted. $1.11 per share, or 13.26%, to close at $7.26 per share on February 24, 2022.
Pomerantz LLP, with offices in new York, Chicago, Los Angeles, Parisand Tel Aviv, is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP