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Dec 31, 2022
Disc Medicine Q4 2022 Earnings Report
Disc Medicine became publicly traded through reverse merger, strengthened balance sheet, and progressed bitopertin and DISC-0974 into patient studies.
Key Takeaways
Disc Medicine reported its full year 2022 financial results, highlighting its transformation into a publicly-traded company through a reverse merger with Gemini Therapeutics. The company ended the year with $194.6 million in cash and cash equivalents and advanced its pipeline programs, including bitopertin and DISC-0974, into clinical studies.
Completed reverse merger with Gemini Therapeutics, debuting on Nasdaq as “IRON”.
Ended 2022 with approximately $194.6 million in cash and cash equivalents.
Initiated two Phase 2 trials, AURORA and BEACON, for bitopertin in erythropoietic protoporphyria (EPP).
Initiated Phase 1b/2 studies of DISC-0974 in myelofibrosis (MF) patients with anemia and in patients with anemia of chronic kidney disease.
Disc Medicine
Disc Medicine
Forward Guidance
Disc Medicine expects to present interim data from the BEACON study in the first half of 2023 and topline data from the AURORA study by year-end 2023. Interim data from the Phase 1b/2 studies of DISC-0974 in myelofibrosis and NDD-CKD patients are expected by the end of 2023. The company anticipates these combined cash and cash equivalents to fund its operational plans into 2025.
Positive Outlook
- Interim data from BEACON study expected in 1H 2023.
- Topline data from AURORA study expected by year-end 2023.
- Interim data from DISC-0974 Phase 1b/2 studies expected by year-end 2023.
- Initiate a Phase 1 study of MWTX-003 in healthy volunteers during the second half of 2023.
- Cash and cash equivalents expected to fund operational plans into 2025.
Challenges Ahead
- Difficulty in predicting the time and cost of development of product candidates.
- Clinical trial results may not be predictive of future results.
- The company may not be able to identify additional product candidates with significant commercial potential.
- Adequacy of Disc’s capital to support its future operations and its ability to successfully initiate and complete clinical trials
- Disc may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements