Disc Medicine, Inc.'s (IRON) shares are experiencing a sharp decline, dropping more than 55 percent. The drop follows the release of preliminary data from the AURORA Phase 2 study for bitopertin, a potential treatment for Erythropoietic Protoporphyria (EPP).
EPP is a rare and potentially fatal disease, caused by an accumulation of protoporphyrins in red blood cells that results in severe pain, swelling, burning sensations and, potentially, blistering and disfigurement.
The bitopertin trial met its primary objective, demonstrating a significant reduction in protoporphyrin IX, an important indication of the drug's efficacy. However, it failed to meet secondary endpoints, meaning not all intended effects reached statistical significance.
Currently, Disc's shares are trending downwards by 55.34 percent, selling at $27.80, a significant drop from the previous close at $62.26. Trading volume is estimated around 1 million shares. Over the past year, Disc's share prices have fluctuated between $20.05 and $77.60 on the Nasdaq.
