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Sep 30, 2024
Disc Medicine Q3 2024 Earnings Report
Disc Medicine's financial results for Q3 2024 were reported, along with a business update.
Key Takeaways
Disc Medicine reported a net loss of $26.6 million for the third quarter of 2024. The company's cash, cash equivalents, and marketable securities totaled $487.4 million as of September 30, 2024. They also completed a $200 million non-dilutive debt financing in November 2024.
Completed a successful end of Phase 2 meeting with the FDA for bitopertin in erythropoietic protoporphyria (EPP), aligning on study parameters and potential for accelerated approval.
Presented proof-of-mechanism data for Phase 1b trial of DISC-0974 in patients with non-dialysis-dependent chronic kidney disease (NDD-CKD) and anemia at ASN Kidney Week 2024.
Eight posters and an oral presentation across all three clinical-stage assets to be presented at the 66th American Society of Hematology (ASH) Annual Meeting and Exposition.
Closed a $200 million non-dilutive debt financing in November 2024, which further strengthened their financial position, ending Q3 with $487 million in cash, cash equivalents, and marketable securities.
Forward Guidance
Disc Medicine anticipates several milestones including providing an update on discussions with the FDA around the design of a confirmatory trial in Q1 2025 and plans to initiate this trial by mid-2025.
Positive Outlook
- Potential for accelerated approval of bitopertin based on existing data.
- Initiation of a confirmatory trial for bitopertin by mid-2025.
- Initiation of a Phase 2 study in anemia of myelofibrosis (MF) by the end of 2024.
- Initiation of a Phase 2 study in polycythemia vera (PV) in 2025.
- Sufficient financing to fund operational plans well into 2027.
Historical Earnings Impact
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