Disc Medicine falls after flagging 'material weakness'
10/01/2025 16:16
** Drug developer Disc Medicine's IRON.O shares fall ~5% to
$59.46
** Company says in filing it expects to report material weakness
in its internal control over financial reporting for year ending
Dec. 31, 2024
** Disc Medicine adds issue due to ineffective Information
Technology General Controls (ITGC) - policies aimed at keeping
the company's IT systems secure and working properly - over some
key financial IT systems
** Company says no misstatements have been identified in its
financial statements so far
** Disc Medicine says its auditor has not completed the
audit of its internal controls and cannot provide an opinion yet
** All 11 brokerages rate the stock "buy" or higher; median
PT $90 - LSEG
** Company's shares gained 6.1% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com))