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Mar 31, 2024
Disc Medicine Q1 2024 Earnings Report
Disc Medicine reported financial results for Q1 2024 and provided business update.
Key Takeaways
Disc Medicine reported a net loss of $26.9 million for the quarter ended March 31, 2024. The company's cash and cash equivalents totaled $342.6 million, expected to fund operations well into 2026.
Top-line results from the AURORA phase 2 study of bitopertin in erythropoietic porphyrias (EPP) were presented in April 2024.
Additional analyses from BEACON and AURORA are on track to be delivered in Q2 2024.
Updated data from the phase 1b/2 study of DISC-0974 in anemia of myelofibrosis (MF) and initial single-ascending dose (SAD) data from the phase 1 study of DISC-3405 in healthy volunteers are planned for presentation in Q2 2024.
The company ended Q1 2024 with $343M in cash and cash equivalents, providing runway well into 2026.
Disc Medicine
Disc Medicine
Forward Guidance
Disc Medicine anticipates several milestones and data releases in the near future, while also acknowledging the inherent risks and uncertainties in drug development and clinical trials.
Positive Outlook
- Additional analyses from the AURORA and BEACON trials to be presented in Q2 2024.
- Updated phase 1b/2 data from DISC-0974 in anemia in MF patients will be presented in Q2 2024.
- Initial pharmacokinetic and pharmacodynamic data from SAD cohorts expected to be presented in Q2 2024.
- Regulatory interactions to define optimal registrational endpoints moving forward in EPP expected to occur in the second half of 2024.
- Cash and cash equivalents are expected to fund operational plans well into 2026.
Challenges Ahead
- The adequacy of Disc’s capital to support its future operations and its ability to successfully initiate and complete clinical trials.
- The difficulty in predicting the time and cost of development of Disc’s product candidates.
- The risk that the results of Disc’s clinical trials may not be predictive of future results in connection with future studies or clinical trials and may not support further development and marketing approval.
- Enrollment timelines of both the BEACON and AURORA studies may not necessarily be predictive of future enrollment timelines.
- New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties.