Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) Q3 2022 Earnings Call Transcript

Operator: Our next question will come from of Corinne Jenkins from Goldman Sachs.

Corinne Jenkins : You’ve shared that 4,500 patients is the more appropriate TAM from IMCIVREE and BBS, which is compared to the 2,500 you shared previously. So what are some of the key items since the launch that give you confidence in the expanded addressable market?

David Meeker : Yes. Maybe I’ll lead off and then Jennifer can supplement. So this is math that we’ve just the original epidemiology and rare diseases, as we know, tends to be soft just because there’s not a lot of publications and data to inform that. As we’ve gotten much deeper into this community, we’ve been able to triangulate different points of information to get to a confidence that the number we believe is larger, i.e. the 4,500 plus kind of opportunity. One of the major ones is just European opportunity where, again, we used France, as Yann said, the number of diagnosed BBS patients in France is 700 easily the number of patients with BBS is probably 2x that or more. But if you just use 1,000 patients as the number for France and then correct for the U.S. population, brands about USD 70 million costs$330 million.

That’s the kind of triangulation. The other thing that’s beginning to give us what’s really interesting and Jennifer highlighted this is the role that testing will play, we’re extremely early in terms of that. But it’s a clinical diagnosis, but blood test, genetic tests are part of a clinical diagnosis and they inform. And so in a prior world, instead of having to wait for a patient to develop 5 or 6 manifestations of both disease, we think there’s a great opportunity for patients to be diagnosed earlier on. Their initial presenting signs and symptoms complemented by genetics. So we’ll see where that goes. But does that answer your question, Corrine?

Corinne Jenkins : Yes, it does. And then what have you learned from the 25% of prescribers that you that weren’t known to Rhythm prior to the launch that might inform kind of your next year of targeting as you continue to expand this opportunity.

Jennifer Chien : So I think like just in terms of the background of the prescribers, it is interesting just in terms of where they are. So of the 25%, I would say that it’s probably a higher percentage that may come from PCPs or family docs or pediatricians versus our target. With that said, some of them also similar to our targets, had certifications with interest in terms of obesity medicine and such. So I think it’s a little bit of a mix in terms of the prescribers themselves in terms of how they came to us. It could be that they learned about IMCIVREE and had a BBS patient. It could also be because the patients themselves learned about IMCIVREE and went to their physician to inquire about the drug. So it’s clear that in terms of organization, we have a certain level of field members on ground educating, but this is where we really turn on our non-personal promotion efforts to try to reach a broader set of physicians and patients out there to make them aware and educated in terms of the disease itself as well as the availability of drug.

David Meeker : And Corrine, maybe one thing that just in our experience in other rare diseases, what’s quite remarkable, although they’re not our target population, primary care positions, for example, as Jennifer said, if they come to attention because they have a patient and they’re willing to give it a try. Some of those physicians continue to grow, they’ve take an interest and begin to take on more patients and truly become expert in the area. So it doesn’t exclude the possibility that a primary care physician could be a leading treater, if you will.

Operator: Our next question come from the line of Joseph Stringer from Needham