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Jun 30, 2023
Disc Medicine Q2 2023 Earnings Report
Disc Medicine reported financial results for the second quarter ending June 30, 2023 and provided a business update.
Key Takeaways
Disc Medicine reported a net loss of $15.9 million for the second quarter of 2023. The company's cash and cash equivalents were $377.6 million as of June 30, 2023, which are expected to fund operational plans well into 2026.
Presented positive initial safety and efficacy data from BEACON trial at the European Hematology Association (EHA) Congress in June 2023.
Initiated phase 1/2 study of bitopertin in patients with Diamond-Blackfan Anemia who have failed corticosteroid treatment.
Enrolling patients in two separate Phase 1b/2 studies for DISC-0974.
Strengthened financial position through $158 million upsized public offering; ended Q2 with approximately $378 million in cash that is expected to fund operations well into 2026.
Forward Guidance
Disc Medicine anticipates continued progress across its portfolio and expects to provide updated results from BEACON and other studies by the end of the year. They believe they will have capital to fund Disc well into 2026.
Positive Outlook
- Positive initial data from BEACON study.
- Completion of upsized public offering.
- Advancing bitopertin into late-stage development.
- Continued enrollment for AURORA study.
- Plans to initiate a Phase 1 study in healthy volunteers during the second half of 2023 for MWTX-003.
Challenges Ahead
- Difficulty in predicting the time and cost of development of product candidates.
- Risk that the results of preclinical studies and clinical trials may not be predictive of future results.
- The adequacy of Disc’s capital to support its future operations and its ability to successfully initiate and complete clinical trials.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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