Disc Medicine drops after stock offering priced

Disc Medicine

23/01/2025 13:34

**  Shares of Disc Medicine  IRON.O  down 3.7% at $56.31
before the bell after follow-on priced
  
    ** Watertown, Massachusetts-based firm late Weds  4.1 mln
shares, including 181,818 pre-funded warrants, for $225.5 mln
gross raise
  
    ** Offering size boosted from , and priced at $55, 6%
discount to last sale
  
    ** Co plans to use net offering proceeds to fund research,
clinical development of its product candidates, support
potential commercialization of its treatment for erythropoietic
protoporphyria (EPP), a 
    rare disease that causes painful sensitivity to light
  
    ** IRON shares on Tues rose ~4% to close at $60.52 after co
received  from US FDA for 
  
    
      
    
  
    
      
    
  
    ** Jefferies, Leerink, Stifel and Cantor jt bookrunners for
stock offering
    
  

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))