Monitor the Phase 3 APOLLO study completion in March 2026 and topline data expected in Q4 2026 for bitopertin, as well as the FDA response to the CRL. The strong cash position provides runway but the increasing expenses and regulatory setback could pressure the stock.
Price Chart
Executive Summary
Disc Medicine reported a significant increase in net loss to $212.2 million in 2025, primarily due to higher R&D and SG&A expenses. Despite receiving a Complete Response Letter (CRL) from the FDA for bitopertin, the company maintains a strong cash position of $791.2 million, providing runway into 2029. The company is advancing its pipeline with positive data from DISC-0974 in myelofibrosis and progressing other clinical trials.
Key Financial Metrics
Key Facts
- Net loss increased to $212.2 million in 2025 from $109.4 million in 2024
- Received Complete Response Letter (CRL) from FDA for bitopertin in EPP
- Cash position is $791.2 million, providing runway into 2029
- R&D expenses increased to $170.6 million from $96.7 million
- SG&A expenses increased to $65.4 million from $33.0 million
Financial Impact
Net loss increased by 93.9% to $212.2 million, R&D expenses up 76.4% to $170.6 million, SG&A expenses up 97.6% to $65.4 million
Risk Factors
- FDA may not approve bitopertin after the CRL
- Continued high R&D and SG&A expenses could deplete cash faster than expected
- Clinical trial results may not meet expectations
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-073594 |
| Document: iron-20260226.htm | 0001193125-26-073594 |
| Document: 0001193125-26-073594-index-headers.html | 0001193125-26-073594 |
| Document: 0001193125-26-073594-index.html | 0001193125-26-073594 |
| Document: 0001193125-26-073594.txt | 0001193125-26-073594 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | 8-K | $74.14 $69.18 | ▼ −6.69% | ▼ −6.19% | $64.48 (−13.03%) |
Sep 9, 2026 22d ago | Press Release | $74.14 $69.18 | ▼ −6.69% | ▼ −6.19% | $64.48 (−13.03%) |
Sep 3, 2026 28d ago | Insider Cluster | $79.23 $68.92 | ▲ +13.01% | ▲ +11.80% | $64.48 (+18.62%) |
Sep 2, 2026 29d ago | 144 | $79.37 $70.06 | ▼ −11.73% | ▼ −10.58% | $64.48 (−18.76%) |
Aug 27, 2026 5w ago | Insider Cluster | $82.55 $79.37 | ▼ −3.85% | ▼ −4.12% | $64.48 (−21.89%) |
Aug 18, 2026 6w ago | Insider Cluster | $80.32 $82.67 | ▲ +2.93% | ▲ +3.31% | $64.48 (−19.72%) |
Aug 14, 2026 6w ago | Insider Cluster | $80.05 $80.94 | ▲ +1.11% | ▲ +2.30% | $64.48 (−19.45%) |
Jul 30, 2026 9w ago | 8-K | $79.21 $77.44 | ▼ −2.23% | ▼ −5.86% | $64.48 (−18.60%) |
Jul 30, 2026 9w ago | Press Release | $79.21 $77.44 | ▼ −2.23% | ▼ −5.86% | $64.48 (−18.60%) |
Jul 14, 2026 11w ago | Insider Cluster | $76.02 $74.32 | ▼ −2.24% | ▼ −1.26% | $64.48 (−15.18%) |
US Market Status
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