The stock will trade on pipeline milestones, not quarterly financials. Key catalysts: bitopertin APOLLO topline data (Q4 2026), DISC-0974 ASCO presentation (June 2026), and DISC-3405 data (Q4 2026). Monitor for FDA Type A meeting outcome in Q2 2026.
Price Chart
Executive Summary
Disc Medicine reported Q1 2026 results with a net loss of $63.5M ($1.65/share), wider than the $34.1M loss in Q1 2025, driven by increased R&D and SG&A spending. The company completed enrollment in the Phase 3 APOLLO study for bitopertin (topline data expected Q4 2026) and maintains a strong cash position of $730M, funding operations into 2029. The wider loss and lack of revenue are consistent with a clinical-stage biotech, but the stock will move on pipeline catalysts, not the financials.
Key Financial Metrics
Key Facts
- Net loss of $63.5M for Q1 2026 vs $34.1M in Q1 2025
- Net loss per share of $1.65 vs $1.02 in Q1 2025
- Cash, cash equivalents, and marketable securities of $730.2M as of March 31, 2026
- Completed enrollment of Phase 3 APOLLO study for bitopertin in EPP; topline data expected Q4 2026
- Type A meeting with FDA scheduled for Q2 2026 to review bitopertin resubmission approach
- Updated Phase 2 data for DISC-0974 in MF anemia selected for oral presentation at ASCO in June 2026
- Phase 2 study of DISC-3405 in PV and Phase 1b study in SCD progressing; data expected Q4 2026
Financial Impact
Net loss widened by $29.4M YoY to $63.5M; cash burn of ~$61M in Q1 2026
Risk Factors
- Bitopertin received a Complete Response Letter (CRL) from FDA in Feb 2026; approval path uncertain
- Widening net loss and increasing cash burn rate
- Clinical-stage biotech with no approved products or revenue
- Dilution risk from potential future equity offerings
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-205187 |
| Document: iron-20260505.htm | 0001193125-26-205187 |
| Document: 0001193125-26-205187-index-headers.html | 0001193125-26-205187 |
| Document: 0001193125-26-205187-index.html | 0001193125-26-205187 |
| Document: 0001193125-26-205187.txt | 0001193125-26-205187 |
| 8-K Data (Synthetic) | 0001193125-26-205187 |
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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