Why Shares of Disc Medicine Opco Climbed This Week
Shares of Disc Medicine Opco (NASDAQ: IRON) were up 18.4% for the week as of Thursday and were up as much as 21.8% this week, according to data provided by S&P Global Market Intelligence. The healthcare company closed last week at $32.53, then rose to its 52-week high of $39.63 on Thursday. The stock is up more than 93% so far this year.
Disc Medicine Opco is a clinical-stage biotech company that specializes in treating blood disorders. The company's lead therapy, bitopertin, is in two ongoing phase 2 studies to treat erythropoietic protoporphyria (EPP), a rare inherited metabolic disorder affecting red blood cells. Disc said it expects to give preliminary results of the trials this month at different conferences. The company is developing bitopertin to treat a range of hematologic disorders.
The company also has DISC-0974 in a phase 1b/2 trial to treat anemia related to chronic kidney disease and plans to begin a phase 1 trial soon for MWTX-003 to treat polycythemia vera, a slow-developing blood cancer.
Source Fool.com
