BUZZ-Disc Medicine slips on planned stock sale

Disc Medicine's IRON.O shares down 1.9% to $59.35 premarket as biopharma firm looks to raise equity

Watertown, Massachusetts-based firm late Tues commenced $200 mln offering consisting of stock and pre-funded warrants

Co plans to use net offering proceeds to fund research and clinical development of its product candidates, to support potential commercialization of its treatment for erythropoietic protoporphyria (EPP), a rare disease that causes painful sensitivity to light

IRON shares on Tues rose nearly 4% to close at $60.52 after co received positive feedback from US FDA for bitopertin in EPP, saying it planned to file new drug application later this year

With 29.7 mln shares outstanding, co has ~$1.8 bln market cap

Jefferies, Leerink, Stifel and Cantor jt bookrunners for the equity offering

Through Tues, IRON shares down 4.5% to begin 2025. Stock's 1-yr high is $77.60 (Mar 4) and 1-yr low is $25.60 (Apr 1)

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))