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Disc Medicine Inc

discmedicine.com

Disc Medicine Inc (NASDAQ: IRON) is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of treatments for serious hematologic diseases. The company generates no product revenue as of its 10-K filed 2026-02-26, operating entirely on external financing while advancing a pipeline of clinical and preclinical drug candidates. Its pipeline targets fundamental biological pathways governing red blood cell formation and function, specifically heme biosynthesis and iron homeostasis. Lead candidate bitopertin is in clinical development for erythropoietic porphyrias (EPP and XLP), with a Phase 3 trial (APOLLO) aligned with the FDA following end-of-Phase 2 and Type C meetings in late 2024. DISC-0974 targets anemia of myelofibrosis and anemia of inflammatory bowel disease. DISC-3405 addresses polycythemia vera, sickle cell disease, and other hematologic disorders. Preclinical program DISC-0998 targets anemia associated with inflammatory diseases. Active collaborations include partnerships with Mabwell and the NIH.

Products & Services

Pipeline includes: bitopertin (heme biosynthesis modulator, Phase 3-ready for EPP and XLP, with ongoing long-term extension study HELIOS); DISC-0974 (iron homeostasis, clinical-stage, targeting anemia of myelofibrosis and anemia of inflammatory bowel disease); DISC-3405 (clinical-stage, targeting polycythemia vera, sickle cell disease, and other hematologic disorders); DISC-0998 (preclinical, targeting anemia associated with inflammatory diseases).

Revenue Model

Disc Medicine has no approved products and generates no product revenue as of the 10-K filed 2026-02-26. The company is funded through external financing while incurring research and development expenses across its clinical and preclinical programs.

Customers & Markets

Target patient populations include those with erythropoietic porphyrias (EPP, XLP), anemia of myelofibrosis, anemia of inflammatory bowel disease, polycythemia vera, sickle cell disease, and inflammatory anemia. No commercial customers as of the 10-K filed 2026-02-26.

Geographic Exposure

Clinical trials conducted in the United States and Australia as referenced in the 10-K filed 2026-02-26. Regulatory engagement primarily with the U.S. FDA.

Financial Snapshot

Revenue
TTM
$0.00
Gross Margin
Last 4 Quarters
N/A
Net Income
TTM
-$241.6M
Current Assets
2026 Q1
Current Liabilities
2026 Q1
Current Ratio
2026 Q1
2400.15%
Total Assets
2026 Q1
Total Liabilities
2026 Q1
Book Value
2026 Q1
688.4M
Cash
2026 Q1
P/E
Last 4 Quarters
N/A
Free Cash Flow
TTM
-$201.3M

Stock Price

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Market Cap: $2.9257 Billion

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