Disc Medicine Announces Underwritten Offering of Common Stock
June 14 2024 - 8:03AM
Disc Medicine, Inc. (NASDAQ: IRON) (Disc), a clinical-stage
biopharmaceutical company focused on the discovery, development,
and commercialization of novel treatments for patients suffering
from serious hematologic diseases, today announced the pricing of
an underwritten offering of 4,944,000 shares of its common stock at
a price of $36.00 per share. The aggregate gross proceeds to Disc
from this offering are expected to be approximately $178.0 million,
before deducting underwriting discounts and commissions and other
offering expenses. All of the securities being sold in the offering
are being offered by Disc. The offering is expected to close on
June 17, 2024, subject to the satisfaction of customary closing
conditions.
The financing was led by Frazier Life Sciences
and Logos Capital and includes participation from new and existing
institutional investors, including Access Biotechnology, Adage
Capital Partners LP, Atlas Venture, Janus Henderson Investors,
OrbiMed, Paradigm BioCapital, TCGX, Wellington Management, a
leading mutual fund, and others.
Disc intends to use the net proceeds from the
offering to fund research and clinical development of its current
or additional product candidates, as well as for working capital
and other general corporate purposes.
Leerink Partners is acting as sole bookrunning
manager for the offering.
The securities described above are being offered
by Disc pursuant to a shelf registration statement on Form S-3 (No.
333-275652) that was declared effective by the Securities and
Exchange Commission (SEC) on November 29, 2023. This offering is
being made only by means of a prospectus and prospectus supplement
that form a part of the registration statement. A prospectus
supplement and accompanying prospectus related to the offering will
be filed with the SEC and will be available on the SEC’s website at
www.sec.gov. Copies of the prospectus supplement and the
accompanying prospectus relating to this offering may also be
obtained, when available, by contacting: Leerink Partners LLC,
Attention: Syndicate Department, 53 State Street, 40th Floor,
Boston, MA 02109, (800) 808-7525 ext. 6105 or by email at
syndicate@leerink.com.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of that state or jurisdiction.
About Disc Medicine
Disc Medicine (NASDAQ: IRON) is a clinical-stage
biopharmaceutical company committed to discovering, developing, and
commercializing novel treatments for patients who suffer from
serious hematologic diseases. We are building a portfolio of
innovative, potentially first-in-class therapeutic candidates that
aim to address a wide spectrum of hematologic diseases by targeting
fundamental biological pathways of red blood cell biology,
specifically heme biosynthesis and iron homeostasis.
Cautionary Statement Regarding
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended, including, without limitation,
express or implied statements related to Disc’s expectations
regarding the timing and closing of the offering, and the
anticipated use of proceeds from the offering. The words “may,”
“will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,”
“intend,” “believe,” “estimate,” “predict,” “project,” “potential,”
“continue,” “seek,” “target” and similar expressions are intended
to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Any
forward-looking statements in this press release are based on
management’s current expectations and beliefs and are subject to a
number of risks, uncertainties and important factors that may cause
actual events or results to differ materially from those expressed
or implied by any forward-looking statements contained in this
press release. These risks and uncertainties include fluctuations
in Disc’s stock price, changes in market conditions, the
satisfaction of customary closing conditions related to the
underwritten offering, and other risks identified in our SEC
filings, including our Quarterly Report on Form 10-Q for the
quarter ended March 31, 2024, and in the prospectus supplement
related to the offering we will file with the SEC. We caution you
not to place undue reliance on any forward-looking statements,
which speak only as of the date they are made. We disclaim any
obligation to publicly update or revise any such statements to
reflect any change in expectations or in events, conditions or
circumstances on which any such statements may be based, or that
may affect the likelihood that actual results will differ from
those set forth in the forward-looking statements.
Media ContactPeg RusconiVerge Scientific
Communicationsprusconi@vergescientific.com
Investor Relations ContactChristina
TartagliaStern Investor
Relationschristina.tartaglia@sternir.com
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