Rhythm Pharmaceuticals (ASX: RHY) is a company with a market capitalization of AU$92.8 million as of October 9, 2023, and a share price of $0.32. They have 221.1 million shares on issue and 12.2 million unlisted options. The company specializes in disruptive technology, particularly an ELISA-based alternative to current screening methods for colorectal cancer (CRC), which is the second leading cause of cancer death globally. CRC incidence is rising in younger populations, and Rhythm's ColoSTAT® offers a simple blood test to detect protein biomarkers, increasing CRC testing participation and early diagnosis rates, potentially reducing healthcare costs.
Rhythm has made significant progress in renewing patents, expanding its management team, and initiating pipeline projects in breast, lung, and gastric cancers. They have signed partnerships, including a UK collaboration with LINK Medical Solutions, and are pursuing regulatory approvals in various markets, including the UK and New Zealand. Rhythm is focused on market entry and plans to expand its product line and market presence in the coming year.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
