Disc Medicine Prices $450 Million Offering at $75 a Share

Disc Medicine, Inc. priced a public offering of 6 million common shares at $75 each for $450 million in gross proceeds, expanding a financing plan it proposed the previous day.

The Oct. 20 pricing sets the offering above Disc’s Oct. 19 proposal for $350 million in common stock and pre-funded warrants. Underwriters can buy up to 900,000 additional common shares within 30 days at the offering price, less underwriting discounts and commissions. The $450 million estimate assumes the option is not exercised and excludes underwriting discounts, commissions and other expenses.

Disc plans to use net proceeds, alongside existing cash, cash equivalents and marketable securities, for research and clinical development of current and additional drug candidates; potential commercialization of bitopertin for erythropoietic protoporphyria and X-linked protoporphyria; pre-commercialization work on other candidates; working capital; and general corporate purposes.

The offering follows positive results from the Phase 3 APOLLO trial of bitopertin, which met its primary and secondary endpoints. Disc expects to resubmit a New Drug Application for bitopertin to the Food and Drug Administration by the end of 2026 and anticipates an agency decision by mid-2027.

The offering is expected to close Oct. 22, subject to customary closing conditions.