Disc Medicine dips after $250 mln equity offering

Disc Medicine

21/10/2025 12:35

**  Disc Medicine's IRON.O shares down 1.7% premarket at $85.72 after $250 mln equity offering priced

    ** Blood disease-focused biopharma early Tues said it sold ~2.7 mln shares, including 59,523
    pre-funded warrants, and existing holder AI DMI (Access Industries) offloaded 297,619 shares

    ** Offering price of $84 is 3.6% discount to stock's last close

      ** On Mon, stock slipped 3.1% after co provided an update on its hematology portfolio and commenced $220 mln offering

    ** Co intends to use net offering proceeds it receives to support potential commercialization of bitopertin for treatment of erythropoietic protoporphyria (EPP) and X-linked protoporphyria (XLP), and research and clinical development of other product candidates

      ** EPP and XLP are rare diseases characterized by severe pain in the skin with exposure to light

      **

      On Fri, IRON shares jumped ~21% and closed at $89.94 after U.S. FDA announced bitopertin as one of nine products under a new fast-track review process

      ** Watertown, Massachusetts-based IRON has ~34.8 mln shares outstanding

        ** Access Industries, investment firm run by Ukrainian-born billionaire Len Blavatnik, owned ~3.8 mln shares prior to the offering, per the prospectus

      ** Jefferies, Leerink, Morgan Stanley and Cantor Fitzgerald are joint bookrunners for offering

      ** Through Mon close, IRON shares up 37.5% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))