From the archive. This pick came before our first emailed issue. We wrote it on Nov 3, 2026 from sources published around that day, with the same checks as every issue. It isn't part of the track record.
The pick
Disc Medicine (IRON) had the biggest jump in trading volume compared with its usual level on October 19, 2026. About 13.7x its 30-day average volume changed hands, and the stock rose 38.86%.
What happened
Disc Medicine announced topline results from APOLLO, a Phase 3 trial of its experimental drug bitopertin in erythropoietic protoporphyria (EPP). EPP is a rare disease that causes severe pain and reactions when patients are exposed to sunlight. The company said the trial met both co-primary endpoints and all secondary endpoints.
The two co-primary endpoints were a reduction in a substance called protoporphyrin IX (PPIX) and more time in light without pain. The company reported a reduction in whole-blood metal-free PPIX from baseline of -41.4% versus placebo (p<0.0001). Average monthly total time in light without pain during month 6 rose by +12.2 hours versus placebo (p=0.0010).
The trial enrolled 183 patients and randomized them 1:1 to 60 mg of oral bitopertin or placebo once daily for 6 months. The company said bitopertin was generally well tolerated. Dizziness was the most common adverse event in the bitopertin group, at 50%. The company described it as mild or moderate and generally transient. It also said there were no adverse events above Grade 3.
Disc said it plans to resubmit a New Drug Application to the U.S. FDA by the end of 2026. It said an FDA decision is anticipated by mid-2027.
Source: [SEC filing]
What news reports said
Yahoo Finance carried a Disc Medicine announcement dated October 19 of a proposed underwritten public offering of $350 million of common stock. The offering includes pre-funded warrants for certain investors who choose them instead of common stock. [Yahoo Finance]
The numbers
- Previous close: $56.84
- Close: $78.93
- Change: +38.86%
- Volume: 8,493,179
- 30-day average volume: 618,117
- Volume multiple: 13.7x
- Behind the move: a company press release
What to watch
- Disc plans to resubmit its NDA to the FDA by the end of 2026.
- Disc says an FDA decision is anticipated by mid-2027.
Source: [SEC filing]
More coverage
What happened next
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