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Sep 30, 2023
Disc Medicine Q3 2023 Earnings Report
Reported financial results for the third quarter of 2023 and provided a business update.
Key Takeaways
Disc Medicine reported its Q3 2023 financial results, highlighting the completion of enrollment for the BEACON and AURORA trials and the advancement of their third development program into the clinic. The company's cash position is strong, with $370.5 million in cash and cash equivalents, expected to fund operations well into 2026. Key data presentations are anticipated at the upcoming ASH 2023 meeting.
Completed enrollment of BEACON and AURORA trials of bitopertin in erythropoietic protoporphyria (EPP).
Initiated a Phase 1 trial of DISC-3405, an anti-TMPRSS6 antibody, in healthy volunteers and received FDA fast track designation for the treatment of polycythemia vera (PV).
Cash and cash equivalents were $370.5 million as of September 30, 2023, expected to fund operational plans well into 2026.
Data from BEACON and DISC-0974 studies to be presented at ASH 2023 meeting.
Forward Guidance
Disc Medicine anticipates presenting topline AURORA data in early 2024 and expects its current cash reserves to fund operations well into 2026.
Positive Outlook
- Topline AURORA data is expected to be presented in early 2024
- Ongoing enrollment and dose escalation in a Phase 1b/2 clinical study in MF patients with severe anemia on stable background therapy; initial data from 10-20 patients in the dose-escalation phase of the study, including safety and changes in hepcidin, iron, and hemoglobin levels, will be presented at ASH 2023
- Ongoing enrollment and dose escalation in a Phase 1b/2 clinical study of patients with anemia of chronic kidney disease who are not receiving dialysis (NDD-CKD); initial data from the 28 mg cohort will be presented as part of a management call in December
- Received FDA fast track designation in September 2023 for DISC-3405 for the treatment of PV
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