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Jun 30, 2025
Disc Medicine Q2 2025 Earnings Report
Disc Medicine reported its second quarter 2025 financial results and provided a business update.
Key Takeaways
Disc Medicine reported a net loss of $55.2 million for Q2 2025, an increase from $26.4 million in Q2 2024, primarily due to higher operating costs driven by the progression of its clinical pipeline. The company ended the quarter with a strong cash position of $650.0 million, expected to fund operations into 2028.
Disc Medicine is on track to submit an NDA for bitopertin in erythropoietic protoporphyria (EPP) under the accelerated approval pathway in October 2025.
The company expects initial data from the Phase 2 study of DISC-0974 in anemia of myelofibrosis (MF) and multiple dose data from the Phase 1b study of DISC-0974 in anemia of non-dialysis-dependent chronic kidney disease (NDD-CKD) in Q4 2025.
Disc Medicine initiated a Phase 2 study of DISC-3405 in polycythemia vera (PV), with initial data anticipated in 2026.
The company maintains a strong financial position with $650.0 million in cash, cash equivalents, and marketable securities, providing a cash runway into 2028.
Forward Guidance
Disc Medicine anticipates significant progress in its clinical pipeline, including regulatory submissions and data readouts, supported by a strong financial position.
Positive Outlook
- On track to submit NDA for bitopertin in EPP under accelerated approval pathway in October 2025.
- Expect initial data from Phase 2 study of DISC-0974 in MF anemia in Q4 2025.
- Expect multiple dose data from Phase 1b study of DISC-0974 in NDD-CKD anemia in Q4 2025.
- Initial data from Phase 2 study of DISC-3405 in PV expected in 2026.
- Strong financial position with cash runway into 2028.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the report.
- Potential for delays in clinical trials or regulatory approvals.
- Uncertainty of clinical trial outcomes and product commercialization success.
Historical Earnings Impact
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