Disc Medicine prices offering at 6 million shares, raising about $450 million

Disc Medicine, Inc. priced its public offering, moving from a preliminary $350 million structure to a final deal of 6,000,000 shares of common stock¹. The offering priced at $75.00 per share, with total proceeds before expenses to the company of $423,000,000¹, according to the prospectus supplement dated October 20, 2026.

The company's stock trades on Nasdaq under "IRON," and the closing sale price on October 20, 2026 was $79.48 per share¹. Underwriters have a 30-day option to purchase up to an additional 900,000 shares at the public offering price, less underwriting discounts and commissions¹. Jefferies, Leerink Partners, Morgan Stanley and Cantor are joint book-running managers, with LifeSci Capital, BMO Capital Markets and H.C. Wainwright & Co. serving as co-managers¹. Underwriters expect to deliver the shares on or about October 22, 2026¹.

The offering follows the company's October 19, 2026 announcement of positive topline results from its Phase 3 APOLLO trial of bitopertin in EPP and XLP. The trial met all its primary and secondary endpoints.¹ Results included a reduction in whole-blood metal-free PPIX from baseline of -41.4% versus placebo (p<0.0001) and an increase in average monthly total time in light without pain during month 6 of +12.2 hours versus placebo (p=0.0010)¹. Based on these results, the company plans to resubmit an NDA to the FDA by the end of 2026, with an FDA decision anticipated by mid-2027.¹

On proceeds, Disc said it intends to use the money to fund research and clinical development of current or additional product candidates, to support the potential commercialization of bitopertin for EPP and XLP, and for working capital and other general corporate purposes¹. After the offering, the company expects its cash position to fund operations into 2030.¹