Logo

IRON

Disc Medicine, Inc.

IRON

Disc Medicine, Inc. • NASDAQ
$93.36 ▼ -0.42% (-0.39)
Market Cap $3.52 B
52w High $97.11
52w Low $30.82
Dividend Yield 0%
P/E -17.39
Volume 192.75K
Outstanding Shares 37.75M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $67.609M ▲ $-62.321M ▼ 0% $-1.77 ▼ $-61.215M ▼
Q2-2025 $0 $61.41M ▲ $-55.247M ▼ 0% $-1.58 ▼ $-54.2M ▼
Q1-2025 $0 $39.946M ▲ $-34.085M ▼ 0% $-1.02 ▼ $-33.049M ▼
Q4-2024 $0 $34.541M ▲ $-29.457M ▼ 0% $-0.98 ▼ $-13.251M ▲
Q3-2024 $0 $32.856M $-26.599M 0% $-0.89 $-32.845M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $615.92M ▼ $630.456M ▼ $57.066M ▲ $573.39M ▼
Q2-2025 $649.973M ▼ $665.061M ▼ $50.896M ▲ $614.165M ▼
Q1-2025 $694.662M ▲ $709.266M ▲ $48.904M ▼ $660.362M ▲
Q4-2024 $489.881M ▲ $496.773M ▲ $53.186M ▲ $443.587M ▼
Q3-2024 $487.363M $495.145M $27.185M $467.96M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-62.321M ▼ $-47.799M ▲ $49.538M ▼ $11.588M ▲ $13.327M ▲ $-47.825M ▲
Q2-2025 $-55.247M ▼ $-47.918M ▼ $51.689M ▲ $892K ▼ $4.663M ▲ $-47.954M ▼
Q1-2025 $-34.085M ▼ $-41.376M ▼ $-272.633M ▼ $244.251M ▲ $-69.758M ▼ $-42.227M ▼
Q4-2024 $-29.457M ▼ $-27.573M ▼ $-1.426M ▲ $28.797M ▲ $-202K ▲ $-28.022M ▼
Q3-2024 $-26.599M $-17.361M $-71.09M $426K $-88.025M $-17.353M

Five-Year Company Overview

Income Statement

Income Statement Disc Medicine is still a pure research-stage biotech, so it has no product revenue yet. The income statement is driven almost entirely by research and development and supporting overhead. Losses have grown steadily as clinical programs have expanded, which is typical for a company moving multiple drug candidates through trials. Earnings per share look volatile in earlier years, largely reflecting changes in share count and the impact of being a young company rather than a shift in the underlying business. Overall, the profile is what you would expect from a clinical-stage firm investing heavily ahead of any commercial launch: all cost, no revenue, and consistent net losses for now.

Balance Sheet

Balance Sheet The balance sheet shows a company that has deliberately raised cash to fund its pipeline and now carries relatively strong liquidity for its size. Cash makes up a large portion of total assets, and debt is minimal, which limits financial strain from interest payments. Equity has improved from slightly negative in the early years to clearly positive, reflecting capital raises and the build-out of the business. The main financial risk factor is not current leverage but the fact that the company’s asset base is mostly cash and early-stage intangibles, with value highly dependent on future trial success and regulatory outcomes.

Cash Flow

Cash Flow Cash flows are negative from operations, reflecting ongoing spending on R&D and corporate infrastructure without any offsetting product revenue. The cash burn has increased over time as the pipeline has matured and more trials are running in parallel. Capital expenditures are negligible, so almost all cash use is tied to people, trials, and intellectual property rather than physical assets. Management and external commentary suggest that the current cash position provides a multi-year runway, which reduces near-term financing pressure but does not remove the long-term need for either eventual revenue, partnerships, or additional capital raises.

Competitive Edge

Competitive Edge Disc Medicine is carving out a specialized niche in hematology by focusing on iron and heme biology. This creates a differentiated position versus broader oncology or general hematology players. Its lead programs are designed to be first-in-class in areas with limited or inconvenient existing treatments, such as erythropoietic porphyrias, anemia of inflammation, and polycythemia vera. The focus on genetically validated targets and high unmet-need diseases, some with orphan and potentially expedited regulatory paths, strengthens this position. At the same time, the company competes in a space where larger pharmaceutical firms could eventually enter, and its value is heavily concentrated in a small number of key assets, which heightens competitive and clinical risk.

Innovation and R&D

Innovation and R&D Innovation and R&D are the core of Disc Medicine’s story. The company is building a platform around precise control of iron homeostasis and heme synthesis, using both small molecules and antibodies. Its ability to either suppress or increase hepcidin gives it multiple angles to address different blood and iron disorders. The pipeline includes potential first-in-class treatments, with one program moving toward a regulatory filing in a rare disease and others in mid-stage trials for more prevalent conditions. Future trials in additional indications suggest a strategy of broadening each asset’s reach rather than building entirely new franchises from scratch. The major uncertainty is the usual one in biotech: clinical risk remains high until late-stage data and regulatory decisions are in hand.

Summary

Disc Medicine is a classic clinical-stage biotech: no revenue yet, growing operating losses, but a balance sheet that currently looks well-prepared to support several more years of development. Financial health hinges on careful cash management and the success of its hematology pipeline rather than on current business operations. Strategically, the company’s tight focus on iron and heme biology, first-in-class mechanisms, and underserved diseases provides clear differentiation and meaningful upside potential if trials go well. On the other hand, the business is concentrated in a few key assets, fully exposed to clinical and regulatory outcomes, and operates in a field where future competition from larger players is possible. Overall, the profile is high-risk, high-reward, with value driven almost entirely by scientific and clinical milestones rather than current financial performance.

NEWS

October 31, 2025 · 8:30 AM UTC

Disc Medicine to Participate in Upcoming Investor Conferences

Read more

October 21, 2025 · 12:14 AM UTC

Disc Medicine Announces Pricing of $250 Million Upsized Public Offering of Common Stock and Pre-Funded Warrants

Read more

October 20, 2025 · 7:00 AM UTC

Disc Medicine Announces Proposed Public Offering of Common Stock and Pre-Funded Warrants

Read more

October 20, 2025 · 6:30 AM UTC

Disc Medicine Provides Update on Hematology Portfolio and Outlines Near-Term Business Objectives and Anticipated Milestones

Read more

October 17, 2025 · 9:00 AM UTC

Disc Medicine to Present Data from Phase 1b Trial of DISC-0974 in Patients with Chronic Kidney Disease (CKD) and Anemia at 2025 American Society of Nephrology (ASN) Kidney Week

Read more