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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% | - | - |
| 2024 | $0M | $-108M | $-109M | $-94M | -24.7% | - | - |
| 2023 | $0M | $-76M | $-76M | $-74M | -22.1% | - | - |
| 2022 | $0M | $-47M | $-47M | $-42M | -26.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 0 | 0 | 0 | 0 |
| Operating Expense | 47.48 | 91.12 | 129.72 | 236.02 |
| Operating Income | -47.48 | -91.12 | -129.72 | -236.02 |
| EBITDA | -47.39 | -76.23 | -108.27 | -207.94 |
| EBIT | -47.48 | -76.33 | -108.43 | -208.22 |
| Pretax Income | -46.83 | -76.33 | -109 | -211.82 |
| Tax Provision | 0 | 0.10 | 0.35 | 0.36 |
| Net Income | -46.83 | -76.43 | -109.36 | -212.18 |
| Net Income Common Stockholders | -46.83 | -76.43 | -109.36 | -212.18 |
| Total Expenses | 47.48 | 91.12 | 129.72 | 236.02 |
| Interest Expense | 0 | 0 | 0.57 | 3.61 |
| Interest Income | 0.71 | 14.80 | 21.29 | 27.76 |
| Research And Development | 33.44 | 69.26 | 96.67 | 170.64 |
| Selling General And Administration | 14.04 | 21.86 | 33.05 | 65.38 |
| Normalized EBITDA | -47.33 | -76.23 | -108.27 | -207.94 |
| Normalized Income | -46.77 | -76.43 | -109.36 | -212.18 |
| Basic EPS | -45.05 | -3.42 | -3.96 | 0 |
| Diluted EPS | -45.05 | -3.42 | -3.96 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0.21 | 0.21 |
| Total Unusual Items | -0.06 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -0.06 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -46.83 | -76.43 | -109.36 | -212.18 |
| Reconciled Depreciation | 0.09 | 0.10 | 0.16 | 0.28 |
| Net Interest Income | 0.71 | 14.80 | 20.72 | 24.15 |
| Net Income From Continuing And Discontinued Operation | -46.83 | -76.43 | -109.36 | -212.18 |
| Total Operating Income As Reported | -47.48 | -91.12 | -129.72 | -236.02 |
| Diluted Average Shares | 1.04 | 22.32 | 27.61 | 0 |
| Basic Average Shares | 1.04 | 22.32 | 27.61 | 0 |
| Diluted NI Availto Com Stockholders | -46.83 | -76.43 | -109.36 | -212.18 |
| Net Income Including Noncontrolling Interests | -46.83 | -76.43 | -109.36 | -212.18 |
| Net Income Continuous Operations | -46.83 | -76.43 | -109.36 | -212.18 |
| Other Income Expense | -0.06 | 0 | 0 | 0.04 |
| Other Non Operating Income Expenses | 0 | 0 | 0 | 0.04 |
| Gain On Sale Of Security | -0.06 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | 0.71 | 14.80 | 20.72 | 24.15 |
| Interest Expense Non Operating | 0 | 0 | 0.57 | 3.61 |
| Interest Income Non Operating | 0.71 | 14.80 | 21.29 | 27.76 |
| 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 | 0 | 10.48 | 19.37 | 36.84 |
| Operating Revenue | 0 | 0 | 0 | 0 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Disc Medicine, Inc.this co. | IRON | $2.5B | - | 3.38 | -28.7% | -7.48 |
| Tarsus Pharmaceuticals, Inc. | TARS | $2.6B | - | 7.52 | -19.3% | -32.50 |
| Immunome, Inc. | IMNM | $2.6B | - | 4.09 | -33.5% | -9.20 |
| Enliven Therapeutics, Inc. | ELVN | $2.6B | - | 5.48 | -22.6% | -17.36 |
| Vera Therapeutics, Inc. | VERA | $2.6B | - |
| 4.23 |
| -49.6% |
| -6.09 |
| Heartflow, Inc. | HTFL | $2.5B | - | 8.38 | -38.8% | -37.97 |
| Celldex Therapeutics, Inc. | CLDX | $2.5B | - | 4.06 | -49.1% | -5.72 |
| IDEAYA Biosciences, Inc. | IDYA | $2.5B | - | 2.41 | -11.1% | -11.82 |
| Guardian Pharmacy Services, Inc. | GRDN | $2.4B | 48.17 | 11.56 | 22.6% | 23.10 |
| Peer Median | - | 48.17 | 4.85 | -28.0% | -10.51 | |