Successful IPO for Rhythm Pharmaceuticals: +52%

The young, Boston-based Rhythm Pharmaceuticals has celebrated his first days as a listed company (Nasdaq) with an exploit taking its capitalization to $706m. The IPO was submitted on October 6th with an initial vale of $17 per share, and yesterday reached $26. Rhythm focuses on developing and marketing peptides for therapeutic use, such as the treatment of gene-based rare diseases. The company’s leading asset is setmelanotide, a peptide targeting melanocortin-4 receptor (MC4R), which causes certain obesity types.