Build­ing up its rare obe­si­ty pipeline, Rhythm Phar­ma to raise $150M

With fresh da­ta in-hand for a slew of late-stage clin­i­cal tri­als in rare obe­si­ty dis­eases, Rhythm Phar­ma $RYTM sig­naled plans to­day to raise $150 mil­lion in a fol­low-on of­fer­ing.

Al­though in­vestors aren’t thrilled with the di­lu­tion (an of­fer­ing of this size will make a dent, con­sid­er­ing Rhythm’s mar­ket cap is on­ly $850 mil­lion), the cash sets the com­pa­ny up for years of R&D, clin­i­cal work, and com­mer­cial­iza­tion.

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