Disc Medicine Announces Pricing of $450 Million Upsized Public Offering of Common Stock

The financing would add common shares, with underwriters holding an option to purchase up to 900,000 additional shares.

Rhea-AI Summary

Disc Medicine (NASDAQ: IRON) priced an upsized public offering of common stock expected to raise $450 million in gross proceeds. The company is selling 6,000,000 shares at $75.00 per share. Expected proceeds exclude underwriting discounts, commissions and other offering expenses and assume no exercise of the underwriters’ option.

Underwriters have a 30-day option to purchase up to 900,000 additional shares at the public offering price, less underwriting discounts and commissions. Disc expects the offering to close on October 22, 2026, subject to customary closing conditions. Disc intends to use net proceeds alongside existing funds for research and clinical development, potential commercialization of bitopertin for erythropoietic protoporphyria and X-linked protoporphyria, other candidates’ pre-commercialization activities, and working capital and general corporate purposes.

2 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Offering expected to raise $450 million gross, before expenses and assuming no exercise of the underwriters’ option. 15% of market cap
• Minor point. Forward-looking: it has not happened yet and may not happen.Disc plans funding for research, clinical development and potential bitopertin commercialization, alongside other candidates’ pre-commercialization activities.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.6,000,000 common shares at $75.00 per share will dilute existing holders.
• Minor point. Forward-looking: it has not happened yet and may not happen.Underwriters’ 30-day option for up to 900,000 additional shares creates potential further dilution.

News Explained

If this priced offering closes, issuing 6,000,000 new common shares would increase Disc Medicine’s share count and reduce existing holders’ percentage ownership.

Key Figures

Shares offered: 6,000,000 shares Offering price: $75.00 per share Underwriters’ option: Up to 900,000 shares +2 more

Shares offered

6,000,000 shares

Base offering of common stock

Offering price

$75.00 per share

Public offering price

Underwriters’ option

Up to 900,000 shares

30-day option, at the offering price less underwriting discounts and commissions

Expected gross proceeds

$450 million

Before discounts, commissions and other expenses; assumes no option exercise

Expected offering close

October 22, 2026

Subject to customary closing conditions

Previous Offering Reports

2 past events · Latest: Oct 21

Same Type 2 events

1. Oct 21

   Public offering pricing

   24h Move

   -1.1%

   Disc priced an upsized offering with common shares, pre-funded warrants and selling-stockholder shares.

2. Jan 22

   Public offering pricing

   24h Move

   -2.6%

   Disc priced an upsized common-stock and pre-funded-warrant offering to fund development and commercialization.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

automatic shelf registration statement, prospectus supplement

2 terms

automatic shelf registration statement regulatory

"pursuant to an automatic shelf registration statement on Form S-3"

An automatic shelf registration statement is a pre-approved filing that companies submit to securities regulators, allowing them to sell new shares or bonds quickly and efficiently when needed. It acts like a standing permit, enabling the company to raise money without going through a lengthy approval process each time, which can be helpful for responding promptly to market opportunities or needs. For investors, it provides transparency about the company's ability to raise funds and signals planning flexibility.

prospectus supplement regulatory

"by means of a prospectus supplement and accompanying prospectus"

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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WATERTOWN, Mass., Oct. 20, 2026 (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 an upsized underwritten public offering of shares of its common stock. Disc is selling 6,000,000 shares of common stock at a public offering price of $75.00 per share. In addition, Disc has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. The aggregate gross proceeds to Disc from this offering are expected to be $450 million, before deducting underwriting discounts and commissions and other offering expenses, assuming no exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on October 22, 2026, subject to the satisfaction of customary closing conditions.

Disc intends to use the net proceeds from the offering, together with its existing cash, cash equivalents, and marketable securities, to fund research and clinical development of Disc's current or additional product candidates, to support the potential commercialization of bitopertin for erythropoietic protoporphyria (EPP) and X-linked protoporphyria (XLP), and additional pre-commercialization activities for its other product candidates, and the remainder for working capital and other general corporate purposes.

Jefferies, Leerink Partners, Morgan Stanley and Cantor are acting as joint book-running managers for the offering. LifeSci Capital, BMO Capital Markets 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. This offering is being made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A final prospectus supplement and accompanying prospectus 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 prospectus 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, or by email at prospectus@morganstanley.com, 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, 2026, 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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much is Disc Medicine’s public offering expected to raise, and at what price?

Disc Medicine expects $450 million in gross proceeds from selling 6,000,000 common shares at $75.00 per share. That amount is before underwriting discounts, commissions and other offering expenses and assumes no exercise of the underwriters’ option to purchase additional shares.

When is Disc Medicine’s public offering expected to close?

Disc Medicine expects the offering to close on October 22, 2026, subject to the satisfaction of customary closing conditions.