IRON

MKT CAP:$3B

Disc Medicine, Inc.

Market Cap

$3B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$68.32-$10.77 (-13.62%)

Apr 23, 2026

Company Details

Disc Medicine, Inc., a clinical-stage biotechnology company, engages in discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. It builds a portfolio of therapeutic candida...

CEO

John D. Quisel

IPO Date

Aug 12, 2020

Website

www.discmedicine.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$212M

EPS (Diluted)

-$6.01

Free Cash Flow

-$181M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 26, 2026

$0EPS -$6.01

Q4 2025

Feb 26, 2026

$0EPS -$1.64

Q3 2025

Nov 6, 2025

$0EPS -$1.77

Q2 2025

Aug 14, 2025

$0EPS -$1.58

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$10M
Q2 22	$0	$0	-$12M
Q3 22	$0	$0	-$10M
Q4 22	$0	$0	-$21M
Q1 23	$0	$0	-$25M
Q2 23	$0	$0	-$17M
Q3 23	$0	$0	-$19M
Q4 23	$0	$0	-$30M
Q1 24	$0	$0	-$31M
Q2 24	$0	$0	-$31M
Q3 24	$0	$0	-$33M
Q4 24	$0	-$9.0K	-$35M
Q1 25	$0	$0	-$40M
Q2 25	$0	$0	-$61M
Q3 25	$0	-$87.0K	-$68M
Q4 25	$0	-$89.0K	-$67M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$14M	-$14M
Q2 22	-$9M	-$9M
Q3 22	-$10M	-$10M
Q4 22	-$12M	-$13M
Q1 23	-$35M	-$35M
Q2 23	-$13M	-$13M
Q3 23	-$7M	-$8M
Q4 23	-$18M	-$18M
Q1 24	-$34M	-$34M
Q2 24	-$15M	-$15M
Q3 24	-$17M	-$17M
Q4 24	-$28M	-$28M
Q1 25	-$41M	-$42M
Q2 25	-$48M	-$48M
Q3 25	-$48M	-$48M
Q4 25	-$43M	-$43M

Capital Expenditures

Quarter	CapEx
Q1 22	$100.0K
Q2 22	$20.0K
Q3 22	$19.0K
Q4 22	$151.0K
Q1 23	$29.0K
Q2 23	$12.0K
Q3 23	$45.0K
Q4 23	$3.0K
Q1 24	$67.0K
Q2 24	$3.0K
Q3 24	$8.0K
Q4 24	$449.0K
Q1 25	$851.0K
Q2 25	$36.0K
Q3 25	$26.0K
Q4 25	$20.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	-39.6%
Q2 22	—	-26.4%
Q3 22	—	-43.2%
Q4 22	—	+20.2%
Q1 23	—	+152.3%
Q2 23	—	+44.2%
Q3 23	—	+80.9%
Q4 23	—	+39.3%
Q1 24	—	+25.2%
Q2 24	—	+78.0%
Q3 24	—	+73.3%
Q4 24	—	+16.3%
Q1 25	—	+27.0%
Q2 25	—	+99.0%
Q3 25	—	+106.0%
Q4 25	—	+93.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$332.0K	—
Q2 22	$382.0K	—
Q3 22	$382.0K	—
Q4 22	$0	—
Q1 23	$1M	—
Q2 23	$1M	—
Q3 23	$1M	—
Q4 23	$2M	—
Q1 24	$4M	—
Q2 24	$4M	—
Q3 24	$4M	—
Q4 24	$4M	—
Q1 25	$6M	—
Q2 25	$8M	—
Q3 25	$10M	—
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$8M	$2M	—
Q2 22	$8M	$4M	—
Q3 22	$8M	$3M	—
Q4 22	$21M	$712.0K	—
Q1 23	$20M	$5M	—
Q2 23	$12M	$5M	—
Q3 23	$14M	$5M	—
Q4 23	$23M	$7M	—
Q1 24	$24M	$8M	—
Q2 24	$23M	$7M	—
Q3 24	$25M	$8M	—
Q4 24	$25M	$10M	—
Q1 25	$28M	$12M	—
Q2 25	$46M	$15M	—
Q3 25	$50M	$17M	—
Q4 25	$46M	—	$21M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$119M	$0	$119M
Q2 22	$109M	$0	$109M
Q3 22	$102M	$0	$102M
Q4 22	$195M	$0	$195M
Q1 23	$236M	$0	$236M
Q2 23	$378M	$0	$378M
Q3 23	$371M	$0	$371M
Q4 23	$360M	$0	$360M
Q1 24	$343M	$0	$343M
Q2 24	$281M	$220M	$501M
Q3 24	$193M	$295M	$487M
Q4 24	$192M	$297M	$490M
Q1 25	$123M	$572M	$695M
Q2 25	$127M	$523M	$650M
Q3 25	$141M	$475M	$616M
Q4 25	$91M	$700M	$791M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	924K	-63.8%	-71.2%
Q2 22	945K	+2.3%	-78.1%
Q3 22	960K	+1.7%	-77.7%
Q4 22	1000K	+4.1%	-60.9%
Q1 23	19M	+1795.7%	+1952.0%
Q2 23	21M	+13.3%	+2174.2%
Q3 23	24M	+13.2%	+2432.2%
Q4 23	24M	-3.1%	+2256.5%
Q1 24	25M	+5.3%	+30.9%
Q2 24	26M	+3.4%	+19.4%
Q3 24	30M	+16.7%	+23.1%
Q4 24	30M	0.0%	+27.0%
Q1 25	33M	+11.3%	+34.3%
Q2 25	35M	+5.1%	+36.6%
Q3 25	35M	+0.4%	+17.5%
Q4 25	35M	+0.3%	+17.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	33
Q2 22	$0	33
Q3 22	$0	33
Q4 22	$0	46
Q1 23	$0	46
Q2 23	$0	46
Q3 23	$0	46
Q4 23	$0	74
Q1 24	$0	74
Q2 24	$0	74
Q3 24	$0	74
Q4 24	$0	84
Q1 25	$0	84
Q2 25	$0	84
Q3 25	$0	84
Q4 25	$0	100K

Revenue / Employee