Disc Medicine Tanks 55% On Announcement Of Phase 2 AURORA Topline Data Regarding Bitopertin

(RTTNews) - Shares of Disc Medicine, Inc. (IRON) are plummeting over 55 percent on Monday morning following the announcement of topline data from Phase 2 AURORA study of bitopertin in patients with Erythropoietic Protoporphyria or EPP.

EPP is a rare, life-threatening disease caused by accumulation of protoporphyrins in red blood cells, causing excruciating pain, edema, burning sensations and potential blistering and disfigurement.

The company stated that the trial met its primary endpoint by showing statistically significant reductions in protoporphyrin IX. However, secondary endpoint didn't meet statistical significance.

Currently, Disc's stock is falling 55.34 percent, to $27.80 over the previous close of $62.26 on a volume of around 1 million shares. It has traded between $20.05 and $77.60 in the last one year on the Nasdaq.