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.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER