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Rhythm Pharmaceuticals prices IPO

Rhythm Pharmaceuticals Inc. priced its IPO of 7,050,000 common shares at $17 apiece.

The company granted underwriters a 30-day option to buy up to an additional 1,057,500 common shares at the offering price.

The shares are scheduled to start trading Oct. 5 on the Nasdaq Global Market under the symbol RYTM.

The offering is expected to close Oct. 10, subject to customary closing conditions.

Morgan Stanley, BofA Merrill Lynch and Cowen are acting as lead book-running managers of the offering, with Needham & Co. as co-manager.