Disc Medicine Finalizes Upsized $450M Offering at $75.00 a Share
IRON sits 90% above its 52-week low of $40 on elevated volume (6.4× avg).
Summary
Disc Medicine priced an upsized $450M offering of 6,000,000 shares at $75.00, netting about $422.4M and extending its cash runway into 2030 as it prepares to resubmit the bitopertin NDA.
Key Events · Financing and Capital Events · IRON
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Upsized $450M Offering Priced
6,000,000 shares sold at $75.00 for $450M gross, up from the $350M deal launched October 19, 2026.
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Net Proceeds and Fees
Underwriting discount of $4.50 per share ($27.0M) plus about $0.6M of expenses leaves roughly $422.4M net; a 30-day option covers up to 900,000 more shares for up to $517.5M gross.
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Dilution to Existing Holders
6.0M new shares on 38,345,666 outstanding as of June 30, 2026 is about 15.6% dilution; new buyers face $50.95 per-share dilution to net tangible book value.
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Runway Extended to 2030
With about $682.8M in cash at September 30, 2026, proceeds push funding into 2030 from 2029, covering the bitopertin NDA resubmission by end-2026 and an FDA decision expected mid-2027.
Analysis · IRON · Life Sciences
Disc Medicine priced 6,000,000 shares at $75.00, raising $450M gross and about $422.4M net after a $4.50 per-share underwriting discount and roughly $0.6M of expenses. That is $100M more than the $350M deal launched October 19, and it comes one day after the APOLLO Phase 3 win for bitopertin, so the capital is being raised into strength rather than out of need. The price sits below the $79.48 close on October 20, a modest discount that still cleared a large book. The cash matters more than the dilution: with roughly $682.8M on hand at September 30, the company now says it can fund operations into 2030 instead of 2029, covering the planned NDA resubmission by year-end 2026, an FDA decision expected mid-2027, and the selcodebart and DISC-3405 programs. Existing holders absorb about 15.6% dilution (6.0M new shares on 38.35M outstanding), and the 45-day lock-up plus a 30-day pause on the $189.9M ATM limit near-term supply.
How filings like this one have moved
In the 30 days to Oct 21, 2026, 37.2% of the 984 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.83%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, IRON was trading at $76.10 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.9B. The 52-week trading range was $40.00 to $99.50. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.