- Disc Medicine, Inc. has priced an upsized offering of shares and pre-funded warrants, raising approximately $225.5 million.
- The proceeds will support the clinical development and potential commercialisation of treatments for serious hematologic diseases.
Disc Medicine, Inc., a clinical-stage biopharmaceutical company, has announced the pricing of its upsized underwritten public offering. The offering includes 3,918,182 shares of common stock priced at $55.00 per share and pre-funded warrants for 181,818 shares priced at $54.9999 per warrant. Gross proceeds from the transaction are expected to reach $225.5 million, excluding expenses and underwriting fees.
The company has also granted underwriters a 30-day option to purchase up to an additional $33.825 million in common stock. The offering is set to close on 24 January 2025, pending customary closing conditions.
The funds raised will primarily be directed toward advancing the development of Disc’s product pipeline, including bitopertin, a treatment candidate for erythropoietic protoporphyria (EPP) and X-linked protoporphyria (XLP). Additional proceeds will be used for research, clinical development, and general corporate purposes.
Jefferies, Leerink Partners, Stifel, and Cantor are leading the offering as joint book-running managers, with BMO Capital Markets, LifeSci Capital, Wedbush PacGrow, and H.C. Wainwright & Co. acting as co-managers.