10:57 AM EDT, 06/14/2024 (MT Newswires) -- Disc Medicine ( IRON ) said Friday that it has priced an underwritten offering of about 4.9 million common shares at $36 per share for expected gross proceeds of about $178 million.

Net proceeds will be used to fund research and development, as well as for working capital and other general corporate purposes, the company said.

The offering is set to close on Monday, the company added.

Shares of Disc Medicine ( IRON ) rose past 17% in recent trading activity.

Price: 46.01, Change: +6.85, Percent Change: +17.49