Rhythm Pharmaceuticals (NASDAQ: RYTM) announced late Monday that president and CEO Keith Gottesdiener will step down from his executive roles and from the board of directors after the company submits its lead drug for FDA review. Gottesdiener has been Rhythm CEO and board member since 2011. A search for his successor is underway.
Boston-based Rhythm’s lead drug, setmelanotide, was developed to target a protein that regulates appetite and weight as a way of treating rare, inherited obesity disorders. The company released positive data last August from Phase 3 studies testing the experimental drug in pro-opiomelancortin deficiency and leptin receptor deficiency. In Monday’s announcement, Rhythm said it is on track to file for FDA approval of the drug in the first quarter of this year.