Shares of RYTM are trading 12% higher today. What's going on:

Shares of Rhythm Pharmaceuticals Inc (RYTM) are trading 12% higher at a price of $14.77 at the time of this writing. The stock rose sharply today and outperformed peers during a day of strong buying the healthcare and biotech sectors.

The company has been trading on strong news that it had received early access authorization to use Setmelanotide in in treading patients with Bardet-Biedl syndrom in France.

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 $744 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.