Disc Medicine Announces Pricing of $250 Million Upsized Public Offering of Common Stock and Pre-Funded Warrants
Rhea-AI Summary
Disc Medicine (NASDAQ: IRON) priced an upsized public offering totaling 2,919,191 aggregate shares/units, including 2,619,049 new shares and 59,523 pre-funded warrants, plus 297,619 shares sold by a selling stockholder.
The public offering price is $84.00 per share (pre-funded warrant at $83.9999). Aggregate gross proceeds to Disc are expected to be approximately $225 million (before fees), and proceeds to the selling stockholder about $25 million. The underwriters have a 30-day option for up to 446,428 additional shares. The offering is expected to close on October 22, 2025. Disc intends to use net proceeds to support potential commercialization of bitopertin for EPP/XLP, fund R&D and for working capital.
Positive
- Expected gross proceeds of approximately $225 million to Disc
- Proceeds earmarked to support commercialization of bitopertin for EPP/XLP
- Funds to finance ongoing research and clinical development
Negative
- Issuance of 2,619,049 new shares will dilute existing shareholders
- Underwriters' 30-day option could add up to 446,428 more shares
- Disc will not receive proceeds from the 297,619 shares sold by the selling stockholder
News Market Reaction
On the day this news was published, IRON declined 1.15%, reflecting a mild negative market reaction. This price movement removed approximately $35M from the company's valuation, bringing the market cap to $3.03B at that time. Trading volume was above average at 1.6x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
WATERTOWN, Mass., Oct. 21, 2025 (GLOBE NEWSWIRE) -- Disc Medicine, Inc. (NASDAQ: IRON) (Disc), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases, today announced the pricing of the upsized underwritten offering of shares of its common stock and, in lieu of common stock to certain investors that so choose, pre-funded warrants to purchase shares of its common stock. Disc is selling 2,619,049 shares of common stock and pre-funded warrants to purchase 59,523 shares of common stock and AI DMI LLC (the Selling Stockholder) is selling 297,619 shares of common stock in the offering. The shares of common stock are being sold at an offering price of
Disc intends to use the net proceeds from the offering to support the potential commercialization of bitopertin for erythropoietic protoporphyria (EPP) and X-linked protoporphyria (XLP), to fund research and clinical development of its current or additional product candidates, and for working capital and other general corporate purposes. Disc will not receive any proceeds from the sale of shares to be offered by the Selling Stockholder.
Jefferies, Leerink Partners, Morgan Stanley and Cantor are acting as joint book-running managers for the offering. Wedbush PacGrow and H.C. Wainwright & Co. are acting as co-managers for the offering.
The offering is being made pursuant to an automatic shelf registration statement on Form S-3 (No. 333-281359) that was previously filed with the Securities and Exchange Commission (SEC) on August 8, 2024 and a resale registration statement on Form S-3 (No. 333-269270) that was previously filed with the SEC on January 18, 2023. This offering is being made only by means of a prospectus supplement and accompanying prospectuses that form a part of the registration statements. A final prospectus supplement and accompanying prospectuses related to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectuses relating to this offering may also be obtained, when available, by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at prospectus_department@jefferies.com; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, (800) 808-7525 ext. 6105 or by email at syndicate@leerink.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York, 10022, or by email at prospectus@cantor.com.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction.
About Disc Medicine
Disc Medicine (NASDAQ: IRON) is a clinical-stage biopharmaceutical company committed to discovering, developing, and commercializing novel treatments for patients who suffer from serious hematologic diseases. We are building a portfolio of innovative, potentially first-in-class therapeutic candidates that aim to address a wide spectrum of hematologic diseases by targeting fundamental biological pathways of red blood cell biology, specifically heme biosynthesis and iron homeostasis.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements related to Disc’s expectations regarding the timing and closing of the offering, and the anticipated use of proceeds from the offering. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “seek,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release. These risks and uncertainties include fluctuations in Disc’s stock price, changes in market conditions, the satisfaction of customary closing conditions related to the underwritten offering, and other risks identified in our SEC filings, including our Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, and in the prospectus supplement related to the offering we will file with the SEC. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
Media Contact
Peg Rusconi
Deerfield Group
peg.rusconi@deerfieldgroup.com
Investor Relations Contact
Christina Tartaglia
Precision AQ
christina.tartaglia@precisionaq.com
FAQ
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