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Disc Medicine, Inc., together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis. Its pipeline includes bitopertin for the treatment of erythropoietic porphyrias, including erythropoietic protoporphyria, X-linked protoporphyria, and diamond-blackfan anemia; DISC-0974 for the treatment of anemia of myelofibrosis, and anemia of chronic kidney disease; and DISC-3405 for the treatment of polycythemia vera, and other hematologic disorders. It also develops preclinical programs include DISC-0998, for the treatment of anemia associated with inflammatory diseases. The company was founded in 2017 and is headquartered in Watertown, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-208M | $-212M | $-181M | -28.7% | - | 94.0% |
| 2024 | $0M | $-108M | $-109M | $-94M | -24.7% | - | 43.1% |
| 2023 | $0M | $-76M | $-76M | $-74M | -22.1% | - | 63.2% |
| 2022 | $0M | $-47M | $-47M | $-42M | -26.5% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0 | 0 | 0 | 0 |
| Operating Revenue | - | 0 | 0 | 0 | 0 |
| Operating Expense | - | 47.48 | 91.12 | 129.72 | 236.02 |
| Research And Development | - | 33.44 | 69.26 | 96.67 | 170.64 |
| Selling General And Administration | - | 14.04 | 21.86 | 33.05 | 65.38 |
| Total Expenses | - | 47.48 | 91.12 | 129.72 | 236.02 |
| Operating Income | - | -47.48 | -91.12 | -129.72 | -236.02 |
| Total Operating Income As Reported | - | -47.48 | -91.12 | -129.72 | -236.02 |
| EBITDA | - | -47.39 | -76.23 | -108.27 | -207.94 |
| Normalized EBITDA | - | -47.32 | -76.23 | -108.27 | -207.94 |
| EBIT | - | -47.48 | -76.33 | -108.43 | -208.22 |
| Interest Income | - | 0.71 | 14.80 | 21.29 | 27.76 |
| Interest Expense | 2.16 | - | 0 | 0.57 | 3.61 |
| Net Interest Income | - | 0.71 | 14.80 | 20.72 | 24.15 |
| Other Non Operating Income Expenses | -0.72 | - | 0 | 0 | 0.04 |
| Other Income Expense | - | -0.06 | 0 | 0 | 0.04 |
| Interest Income Non Operating | - | 0.71 | 14.80 | 21.29 | 27.76 |
| Interest Expense Non Operating | 2.16 | - | 0 | 0.57 | 3.61 |
| Net Non Operating Interest Income Expense | - | 0.71 | 14.80 | 20.72 | 24.15 |
| Pretax Income | - | -46.83 | -76.33 | -109 | -211.82 |
| Tax Provision | - | 0 | 0.10 | 0.36 | 0.36 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -46.83 | -76.43 | -109.36 | -212.18 |
| Net Income From Continuing And Discontinued Operation | - | -46.83 | -76.43 | -109.36 | -212.18 |
| Net Income From Continuing Operation Net Minority Interest | - | -46.83 | -76.43 | -109.36 | -212.18 |
| Net Income | - | -46.83 | -76.43 | -109.36 | -212.18 |
| Net Income Common Stockholders | - | -46.83 | -76.43 | -109.36 | -212.18 |
| Net Income Including Noncontrolling Interests | - | -46.83 | -76.43 | -109.36 | -212.18 |
| Normalized Income | - | -46.77 | -76.43 | -109.36 | -212.18 |
| Diluted NI Availto Com Stockholders | - | -46.83 | -76.43 | -109.36 | -212.18 |
| Basic Average Shares | 0.80 | 1.04 | 22.32 | 27.61 | - |
| Diluted Average Shares | 0.80 | 1.04 | 22.32 | 27.61 | - |
| Reconciled Depreciation | - | 0.09 | 0.10 | 0.16 | 0.28 |
| Total Unusual Items | -5.05 | -0.06 | - | - | - |
| Total Unusual Items Excluding Goodwill | -5.05 | -0.06 | - | - | - |
| Gain On Sale Of Security | -5.05 | -0.06 | - | - | - |
| General And Administrative Expense | - | 14.04 | 21.86 | 33.05 | 65.38 |
| Other Gand A | - | 14.04 | 11.38 | 13.68 | 28.54 |
| Salaries And Wages | - | - | 10.48 | 19.37 | 36.84 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Disc Medicine, Inc.this co. | IRON | $2.7B | -12.80 | 3.67 | -28.7% | -12.77 |
| GRAIL, Inc. | GRAL | $2.9B | -6.99 | 1.11 | -15.8% | -7.04 |
| Brookdale Senior Living Inc. | BKD | $2.8B | -10.81 | -63.45 | 587.0% | 23.48 |
| Soleno Therapeutics, Inc. | SLNO | $2.8B | 132.26 | 6.14 | 4.6% | 96.72 |
| Arcutis Biotherapeutics, Inc. | ARQT | $2.7B |
| - |
| - |
| - |
| -170.10 |
| 14.49 |
| -8.5% |
| 1582.53 |
| Definium Therapeutics, Inc. | DFTX | $2.7B | -14.59 | 8.07 | -55.3% | -13.82 |
| Alumis Inc. | ALMS | $2.6B | -10.68 | 8.63 | -80.8% | -5.66 |
| Tarsus Pharmaceuticals, Inc. | TARS | $2.6B | -39.09 | 7.56 | -19.3% | -45.85 |
| Guardian Pharmacy Services, Inc. | GRDN | $2.6B | 52.49 | 12.56 | 23.9% | 26.50 |
| Peer Median | - | -10.75 | 7.81 | -12.2% | 8.91 | |