Disc Medicine, Inc. has entered into an underwriting agreement to sell 6,000,000 shares of its common stock at a public price of $75.00 per share. The offering is being led by Jefferies LLC, Leerink Partners LLC, Morgan Stanley & Co. LLC, and Cantor Fitzgerald & Co. as joint book-running managers. The agreement grants the underwriters a 30-day option to purchase up to an additional 900,000 shares at the same public price, less underwriting discounts and commissions.
The offering is expected to generate net proceeds of approximately $422.4 million for the company, assuming the underwriters do not exercise their option. If the option is exercised in full, the net proceeds would increase to approximately $485.9 million. These funds are anticipated to be used to support the company's current operating and capital expenditure plans and its debt service obligations through 2030.
Disc Medicine reported preliminary unaudited cash, cash equivalents, and marketable securities of approximately $682.8 million as of September 30, 2026. The company stated that its existing cash, combined with the estimated net proceeds from this offering, will be sufficient to fund its operations through 2030 without relying on net cash inflows from its product candidates.
The transaction is being conducted pursuant to an automatic shelf registration statement on Form S-3 (File No. 333-281359) filed with the SEC on August 8, 2024. The offering closed on October 22, 2026.
