Disc Medicine files $189.9 million stock offering after APOLLO Phase 3 win in EPP

Disc Medicine, Inc. filed a prospectus supplement dated November 5, 2026 covering an at-the-market stock sale program. Under the arrangement, the company may offer and sell shares of common stock having an aggregate gross sales price of up to $189,925,765 from time to time through or to TD Cowen, acting as sales agent or principal.¹ The stock trades on The Nasdaq Global Market under the symbol "IRON," and closed at $83.28 per share on November 4, 2026.¹

The filing follows Disc's third-quarter 2026 results, also released November 5. The company's pivotal Phase 3 APOLLO trial of bitopertin in erythropoietic protoporphyria achieved statistical significance on both co-primary endpoints: reduction in whole blood metal-free PPIX from baseline and average monthly total time in sunlight without pain during month 6 of treatment versus placebo.² Bitopertin reduced whole-blood metal-free PPIX by 41.4% versus placebo (p<0.0001) and increased average monthly total time in light without pain by 12.2 hours during month 6 (p=0.0010).² Bitopertin was generally well-tolerated, with dizziness the most commonly reported treatment emergent adverse event at 50 percent, mild or moderate and generally transient, with no TEAEs above Grade 3.² Disc plans to resubmit an NDA to the FDA by the end of 2026, with a decision anticipated by mid-2027.²

On the rest of the pipeline, the company expects feedback from an end-of-phase-2 FDA meeting on selcodebart in anemia of myelofibrosis along with plans for pivotal development by year end.² Disc also disclosed updated and initial data from its DISC-3405 programs in polycythemia vera and sickle cell disease will be presented in December at the ASH annual meeting.

On cash, the company reported its balance at quarter end and said that, combined with October offering proceeds, it expects funding to extend into 2030, as previously disclosed.