Rhythm Pharmaceuticals, Inc. Announces Close at $124.8

BOSTON, Sept. 19, 2022 (GLOBE NEWSWIRE) — Rhythm Pharmaceuticals, Inc. (Nasdaq: RYTM) (“Rhythm”), a commercial-stage biopharmaceutical company focused on transforming the lives of patients and their families with overeating and obesity caused by rare disorders of the melanocortin-4 receptor (MC4R) pathway, today announced the closing of its public offering of 4,800,000 common shares at a public offering price of $26.00 per share on September 19, 2022. Total gross proceeds to Rhythm from the offering were $124.8 million, before underwriting discounts and commissions and offering fees. In addition, Rhythm has granted the underwriters a 30-day option to purchase up to 720,000 additional shares of common stock at the public offering price, less discount and underwriting fee. All shares in the offering were tendered by Rhythm.

Rhythm intends to use the net proceeds of this offering to advance the global commercialization of IMCIVREE for obesity due to POMC, PCSK1 or LEPR and BBS deficiency, to advance the clinical development of setmelanotide in the hypothalamic obesity, as well as its EMANATE, DAYBREAK and weekly formulation trials, and for working capital and general business purposes.

Cowen, Stifel and Wells Fargo Securities are acting as joint bookrunners for the offering. Ladenburg Thalmann acts as tender manager.

The offering was made pursuant to a shelf registration statement on Form S-3, including a base prospectus, which was filed by Rhythm with the Securities and Exchange Commission (“SEC”) on November 2, 2021 and declared effective by the SEC on November, September 15, 2021. A preliminary prospectus supplement relating to the offering was filed with the SEC on September 14, 2022. The final prospectus supplement relating to the offering has been filed with the SEC September 15, 2022. Copies of the final prospectus supplement relating to the offering may be obtained from: Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department , by phone at (833) 297-2926 or by email at [email protected]; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by phone at 415-364-2720 or by email at [email protected]; or Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York 10001, at 833-690-2713 or email a request to [email protected]

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. prior to registration or qualification. under the securities laws of such state or territory.

Forward-looking statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release that do not relate to historical facts should be considered forward-looking statements, including, without limitation, statements regarding the intended use of the product of the offer. Statements using words such as “expect”, “anticipate”, “believe”, “may”, “will” and similar terms are also forward-looking statements. These statements are subject to numerous risks and uncertainties, including, but not limited to, the risks associated with general economic and market conditions and the other important factors discussed under “Risk Factors” in the prospectus supplement related to the offering, our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2022, and our other filings with the SEC. Except as required by law, we undertake no obligation to modify any forward-looking statements contained in this press release or to update them to reflect events or circumstances that occur after the date of this press release. , whether as a result of new information , future developments or otherwise.

Company Contact:
David Connelly
Head of Investor Relations and Corporate Communication
Rhythm Pharmaceuticals, Inc.
[email protected]

Investor contacts:
Hannah Deresiewicz
Stern Investor Relations, Inc.
[email protected]

Media Contact:
Adam Daley
Berry & Company Public Relations
[email protected]

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