Disc Medicine falls as genetic disorder drug fails to meet key secondary goal in mid-stage study

Disc Medicine

01/04/2024 14:17

** Shares of drug developer Disc Medicine  IRON.O  fall
59.8% to $25 premarket 
    ** Co says its experimental drug to treat a type of rare
genetic disorder did not meet the secondary goal of a mid-stage
study 
    ** Says drug, bitopertin, did not meet statistical
significance in improving tolerance to sunlight due to strong
placebo performance 
     ** The company is testing the drug to treat erythropoietic
protoporphyria that causes severe reactions when patients are
exposed to sunlight, characterized by excruciating pain and
burning sensations 
    ** Up to last close stock up 7.8% YTD 

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))