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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.
Disc Medicine
Disc Medicine
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.