On October 20, 2025, Disc Medicine, Inc. (NASDAQ: IRON) announced the commencement of an underwritten offering of $220.0 million of its common stock and pre‑funded warrants. The offering will consist of $200.0 million of shares issued by Disc and an additional $20.0 million of shares offered by AI DMI LLC, the selling stockholder. Jefferies, Leerink Partners, Morgan Stanley and Cantor are acting as joint book‑running managers for the proposed offering.
The company stated that net proceeds from the offering will be used to support the potential commercialization of bitopertin for erythropoietic protoporphyria (EPP) and X‑linked protoporphyria (XLP), to fund research and clinical development of its current or additional product candidates, and for working capital and other general corporate purposes. The 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 the actual size or terms of the offering.
The proposed offering is being made pursuant to an automatic shelf registration statement on Form S‑3 (No. 333‑281359) previously filed with the SEC on August 8, 2024, and a resale registration statement on Form S‑3 (No. 333‑269270) filed on January 18, 2023. A preliminary prospectus supplement and accompanying prospectuses will be filed with the SEC and will be available on the SEC website. The offering does not constitute an offer to sell or a solicitation of an offer to buy these securities, and the company will not receive any proceeds from the sale of shares offered by the selling stockholder.
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