BUZZ-Disc Medicine drops after stock offering priced

Shares of Disc Medicine IRON.O down 3.7% at $56.31 before the bell after follow-on priced

Watertown, Massachusetts-based firm late Weds sold 4.1 mln shares, including 181,818 pre-funded warrants, for $225.5 mln gross raise

Offering size boosted from $200 mln, and priced at $55, 6% discount to last sale

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

IRON shares on Tues rose ~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

Co has 29.7 mln shares outstanding for roughly $1.7 bln market cap

Through Weds close, shares off 7.7% YTD, but have risen about 25% over past three months. Stock's 1-yr high is $77.60 (Mar 4) and 1-yr low is $25.60 (Apr 1)

Jefferies, Leerink, Stifel and Cantor jt bookrunners for stock offering