Disc Medicine announces $220M public stock offering

Disc Medicine Inc. (NASDAQ: IRON) announced the commencement of an underwritten public offering of $220 million in common stock and pre-funded warrants. The clinical-stage biopharmaceutical company will offer $200 million in shares, while selling stockholder AI DMI LLC will offer $20 million in shares.

The selling stockholder has granted underwriters a 30-day option to purchase up to an additional $33 million in shares at the public offering price, less underwriting discounts and commissions. The offering remains subject to market conditions with no assurance regarding completion, timing, size or final terms.

Disc Medicine plans to use net proceeds to support potential commercialization of bitopertin for erythropoietic protoporphyria and X-linked protoporphyria, fund research and clinical development of current and additional product candidates, and cover working capital and general corporate purposes. The company will not receive proceeds from shares sold by the selling stockholder.

Jefferies, Leerink Partners, Morgan Stanley and Cantor serve as joint book-running managers for the proposed offering. The offering is being conducted under automatic shelf registration statement Form S-3 filed with the Securities and Exchange Commission on August 8, 2024, and resale registration statement Form S-3 filed on January 18, 2023.

Disc Medicine focuses on discovering and developing treatments for hematologic diseases by targeting red blood cell biology pathways, specifically heme biosynthesis and iron homeostasis. The company is building a portfolio of therapeutic candidates aimed at addressing various blood disorders.

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