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Disc Medicine Q1 2025 Earnings Report
Disc Medicine reported its first quarter 2025 financial results, highlighting operational progress across its portfolio and a strong financial position.
Key Takeaways
Disc Medicine reported a net loss of $34.1 million for Q1 2025, an increase from $26.9 million in Q1 2024, primarily due to higher operating costs. The company ended the quarter with $694.7 million in cash, cash equivalents, and marketable securities, expected to fund operations into 2028. Key operational milestones include the initiation of the APOLLO trial for bitopertin in EPP and progress in the DISC-0974 program.
Net loss for Q1 2025 was $34.1 million, compared to $26.9 million for Q1 2024.
Cash, cash equivalents, and marketable securities totaled $694.7 million as of March 31, 2025, providing a cash runway into 2028.
Research and Development expenses increased to $27.8 million in Q1 2025 from $23.7 million in Q1 2024, driven by portfolio progression and drug manufacturing.
The APOLLO trial for bitopertin in EPP has been initiated, and the company remains on track to submit the NDA for bitopertin in EPP in H2 2025.
Forward Guidance
Disc Medicine anticipates significant progress in its clinical programs and financial stability, with key data readouts and regulatory submissions expected in the second half of 2025.
Positive Outlook
- Company remains on track to submit NDA for bitopertin in EPP in H2 2025 under the accelerated approval pathway.
- Initiated APOLLO, a confirmatory clinical trial of bitopertin in adults and adolescents with EPP, designed to support conversion to full approval.
- Plan to initiate Phase 2 study of DISC-3405 in polycythemia vera (PV) in H1 2025.
- Expect data readouts for DISC-0974 program in H2 2025, including initial results of Phase 2 anemia of myelofibrosis (MF) study and multiple dose data from Phase 1b anemia of non-dialysis dependent chronic kidney disease (NDD-CKD) study.
- Strong financial position supported by $259 million public offering in January 2025; ended Q1 with $695 million in cash, cash equivalents, and marketable securities, which is expected to fund operations into 2028.
Challenges Ahead
- Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements.
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