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Rhythm Pharmaceuticals, Inc. Announces Closing of $124.8 Million Public OfferingBOSTON, 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 living with hyperphagia and severe obesity caused by rare melanocortin-4 receptor pathway (MC4R) diseases, today announced the closing of its public offering of 4,800,000 shares of its common stock at a public offering price of $26.00 per share on September 19, 2022. The aggregate gross proceeds to Rhythm from the offering were $124.8 million, before underwriting discounts and commissions, and offering expenses. In addition, Rhythm has granted the underwriters a 30-day option to purchase up to an additional 720,000 shares of its common stock at the public offering price, less the underwriting discount and commission. All of the shares in the offering were offered by Rhythm. Rhythm intends to use the net proceeds from this offering to advance global commercialization of IMCIVREE for obesity due to POMC, PCSK1 or LEPR deficiency and BBS, to advance clinical development of setmelanotide in hypothalamic obesity, as well as its EMANATE, DAYBREAK and weekly formulation trials, and for working capital and general corporate purposes. Cowen, Stifel and Wells Fargo Securities are acting as joint book-running managers for the offering. Ladenburg Thalmann is acting as manager for the offering. The offering was made pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed by Rhythm with the Securities and Exchange Commission (“SEC”) on November 2, 2021 and declared effective by the SEC on November15, 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 was filed with the SEC on 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 telephone 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 telephone 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 shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Forward-Looking Statement Company Contact: Investor Contact: Media Contact: 
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