Disc Medicine, Inc. IRON
We are a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. We have assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, specifically heme biosynthesis and iron homeostasis. Our current pipeline includes bitopertin for the treatment of erythropoietic porphyrias, or EPs, including erythropoietic protoporphyria, or EPP, and X-linked protoporphyria, or XLP; DISC-0974 for the treatment of anemia of myelofibrosis, or MF, and anemia of inflammatory bowel disease, or IBD; and DISC-3405 for the treatment of polycythemia vera, or PV, sickle cell disease, or SCD, and other hematologic disorders. In addition, our preclinical programs include DISC-0998 for the treatment of anemia associated with inflammatory diseases. Our approach to product candidate development leverages well-understood molecular mechanisms that have been validated in humans. We believe that each of our product candidates, if approved, has the potential to improve the lives of patients suffering from hematologic diseases.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| R&D | $170.6M | $96.7M | $69.3M | $33.4M | $25.2M | $28.2M | — |
| SG&A | $65.4M | $33.0M | $21.9M | $14.0M | $5.8M | $5.9M | — |
| Total operating expenses | $236.0M | $129.7M | $91.1M | $47.5M | $30.9M | $34.0M | — |
| Operating income | -$236.0M | -$129.7M | -$91.1M | -$47.5M | -$30.9M | -$34.0M | — |
| Interest expense | $3.6M | $572.0K | $0 | — | $2.2M | $6.8M | — |
| Pre-tax income | -$211.8M | -$109.0M | -$76.3M | -$46.8M | — | — | — |
| Income tax | $361.0K | $355.0K | $99.0K | $0 | — | — | — |
| Net income | -$212.2M | -$109.4M | -$76.4M | -$46.8M | -$36.0M | -$40.8M | — |
| EPS, basic | -6.01 | -3.96 | -3.42 | -45.05 | -40.95 | — | — |
| EPS, diluted | -6.01 | -3.96 | -3.42 | -45.05 | -40.95 | -2.70 | — |
| Shares, diluted (wtd. avg.) | 35.3M | 27.6M | 22.3M | 1.0M | 878,407 | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $91.1M | $192.4M | $360.6M | $194.8M | $88.2M | $25.9M | $3.3M |
| Short-term investments | $700.0M | $297.4M | $0 | — | — | — | — |
| Total current assets | $803.9M | $493.6M | $365.7M | $198.5M | $90.5M | $5.1M | — |
| Property, plant and equipment | $1.2M | $751.0K | $170.0K | $168.0K | $106.0K | $294.0K | — |
| Total assets | $806.9M | $496.8M | $368.0M | $200.2M | $92.4M | $8.3M | — |
| Accounts payable | $9.0M | $7.9M | $12.6M | $16.2M | $2.6M | $2.4M | — |
| Short-term debt | — | — | — | — | — | $11.7M | — |
| Total current liabilities | $36.6M | $23.3M | $21.4M | $22.6M | $13.4M | $24.9M | — |
| Long-term debt | $29.2M | $28.3M | $0 | — | — | $14.0M | — |
| Total liabilities | $67.1M | $53.2M | $22.9M | $23.6M | $14.8M | $30.2M | — |
| Retained earnings | -$510.2M | -$298.0M | -$188.6M | -$112.2M | -$65.4M | -$112.8M | — |
| Total equity | $739.8M | $443.6M | $345.1M | $176.6M | -$64.2M | -$28.8M | -$10.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$180.4M | -$93.9M | -$73.5M | -$42.3M | -$27.5M | -$32.7M | — |
| Depreciation and amortisation | $281.0K | $156.0K | $100.0K | $89.0K | $32.0K | $322.0K | — |
| Stock-based compensation | $34.3M | $16.8M | $5.5M | $2.1M | $507.0K | $983.0K | — |
| Capital expenditure | $933.0K | $505.0K | $89.0K | $151.0K | $68.0K | $22.0K | — |
| Investing cash flow | -$394.3M | -$292.3M | -$89.0K | -$151.0K | -$68.0K | -$22.0K | — |
| Financing cash flow | $473.4M | $218.3M | $239.4M | $149.0M | $89.9M | $34.2M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-187646.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — |
| Net income | — | -$40.8M | -$36.0M | -$46.8M | -$76.4M | -$109.4M | -$212.2M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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