Shares of Rhythm Pharmaceuticals (NASDAQ:RYTM) are trending lower in the pre-market session today after the company priced the offering of 4.8 million shares at $26 apiece.
Underwriters of the offer have a 30-day option to acquire additional 720,000 Rhythm shares. The offer closes on September 19.
Earlier this month, the company’s Imcivree received an expanded approval in Europe for treating obesity and hunger-associated Bardet-Biedl syndrome (BBS).
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