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Jun 30, 2024
Disc Medicine Q2 2024 Earnings Report
Disc Medicine's financial results for the second quarter of 2024 were reported, along with a business update.
Key Takeaways
Disc Medicine reported its Q2 2024 financial results, highlighting positive data presentations at the EHA Congress for all three programs and a strengthened financial position with $501 million in cash, cash equivalents, and marketable securities. The company expects this to fund operations well into 2027. The company's net loss was $26.4 million for the quarter.
Presented positive data for all three programs at the European Hematology Association (EHA) 2024 Congress.
Plan to provide an update on regulatory interactions for bitopertin in EPP and DISC-0974 in anemia of MF in the second half of 2024.
Strengthened financial position through an underwritten offering of common stock for $178 million in gross proceeds.
Ended Q2 with $501 million in cash, cash equivalents, and marketable securities, expected to fund operations well into 2027.
Disc Medicine
Disc Medicine
Forward Guidance
Disc Medicine anticipates several milestones in the second half of 2024, including regulatory interactions and data sharing.
Positive Outlook
- End of Phase 2 meeting to discuss optimal registrational endpoints moving forward in EPP is expected to occur in the second half of 2024
- Plan for interactions with regulators in the second half of 2024 to determine the optimal Phase 2 study design in anemia of MF
- Updated Phase 1b data from DISC-0974 in anemia in non-dialysis-dependent chronic kidney disease (NDD-CKD) is expected to be shared in the second half of 2024
- Data from the multiple ascending dose (MAD) cohorts of DISC-3405 study expected to be shared in the second half of 2024.
- Cash, cash equivalents, and marketable securities are expected to fund operational plans well into 2027.
Challenges Ahead
- Difficulty in predicting the time and cost of development of Disc’s product candidates
- The timing of initiation of Disc’s planned preclinical studies and clinical trials is uncertain.
- The timing of the availability of data from Disc’s clinical trials is uncertain.
- The results of Disc’s preclinical studies and clinical trials may not be predictive of future results.
- The company may not be able to identify additional product candidates with significant commercial potential and to expand its pipeline in hematological diseases