Here's Why Rhythm Pharmaceuticals Inc Rose As Much As 37% Today

Shares of Rhythm Pharmaceuticals (NASDAQ: RYTM) soared 37% today after the company announced the pricing of a public offering of common stock. The rare-disease-focused biopharma will sell up to 6.6 million shares at $26.42 apiece, for gross proceeds of up to $174 million.Shares fell precipitously earlier this week when Rhythm Pharmaceuticals paired the announcement of promising topline data from an ongoing phase 2 trial for its lead drug candidate with news of its intention to conduct the offering.

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