Disc Medicine, Inc. (NASDAQ: IRON) has announced its plans to commence an underwritten public offering of $200.0 million of shares of its common stock and pre-funded warrants to certain investors. The company also intends to grant the underwriters a 30-day option to purchase up to an additional $30.0 million of shares of its common stock.
The net proceeds from the proposed offering will be used to fund research and clinical development of its current or additional product candidates, to support the potential commercialization of bitopertin for erythropoietic protoporphyria (EPP) and x-linked protoporphyria (XLP), as well as for working capital and other general corporate purposes.
Jefferies, Leerink Partners, Stifel, and Cantor are acting as joint book-running managers for the proposed offering. The securities being offered are pursuant to an automatic shelf registration statement on Form S-3 (No. 333-281359) that was filed with the Securities and Exchange Commission (SEC) on August 8, 2024.
This proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Disc Medicine, Inc. is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. The company is committed to discovering, developing, and commercializing innovative treatments for patients who suffer from serious hematologic diseases. The market has reacted to these announcements by moving the company's shares 0.8% to a price of $57.45. For more information, read the company's full 8-K submission here.
