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    Disc Medicine, Inc.

    Company overview

    Market capitalization
    $2.49B
    Employees
    154
    Latest publication
    2026-09-29
    About Disc Medicine, Inc.

    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.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Total Revenue0USD-19,884,127USD7,905,065USD0USD0USD0USD0USD0USD
    Cost Of Revenue89,000USD89,000USD87,000USD85,000USD20,000USD9,000USD11,000USD110,000USD
    Gross Profit-89,000USD-89,000USD-87,000USD-85,000USD-20,000USD-9,000USD-11,000USD-110,000USD
    Research Development45,815,000USD46,224,000USD50,247,000USD46,319,000USD27,763,000USD24,788,000USD24,685,000USD23,485,000USD
    Selling General Administrative23,620,000USD20,746,000USD17,362,000USD15,091,000USD12,183,000USD9,753,000USD8,171,000USD7,367,000USD
    Total Operating Expenses69,435,000USD66,970,000USD67,609,000USD61,410,000USD39,946,000USD34,541,000USD32,856,000USD30,852,000USD
    Operating Income-69,524,000USD-66,970,000USD-67,696,000USD-61,410,000USD-39,946,000USD-34,550,000USD-32,856,000USD-30,852,000USD
    Interest Income6,893,000USD7,412,000USD6,412,000USD7,057,000USD6,880,000USD5,838,000USD6,362,000USD4,573,000USD
    Interest Expense844,000USD883,000USD917,000USD910,000USD897,000USD572,000USD—0USD
    Net Interest Income6,049,000USD6,529,000USD5,495,000USD6,147,000USD5,983,000USD5,266,000USD6,362,000USD4,573,000USD
    Income Before Tax-63,453,000USD-60,443,000USD-62,219,000USD-55,195,000USD-33,966,000USD-29,281,000USD-26,485,000USD-26,292,000USD
    Income Tax Expense51,000USD88,000USD102,000USD52,000USD119,000USD176,000USD114,000USD60,000USD
    Tax Provision51,000USD88,000USD102,000USD52,000USD119,000USD176,000USD114,000USD60,000USD
    Net Income-63,504,000USD-60,531,000USD-62,321,000USD-55,247,000USD-34,085,000USD-29,457,000USD-26,599,000USD-26,352,000USD
    Net Income From Continuing Ops-63,504,000USD-60,531,000USD-62,321,000USD-55,247,000USD-34,085,000USD-29,457,000USD-26,599,000USD-26,352,000USD
    Ebit-63,453,000USD-59,560,000USD-61,302,000USD-54,285,000USD-33,069,000USD-13,260,000USD-26,485,000USD-26,292,000USD
    Ebitda-63,364,000USD-59,471,000USD-61,215,000USD-54,200,000USD-33,049,000USD-13,251,000USD-26,474,000USD-26,182,000USD
    Depreciation And Amortization89,000USD89,000USD87,000USD85,000USD20,000USD9,000USD11,000USD110,000USD
    Reconciled Depreciation89,000USD89,000USD87,000USD85,000USD20,000USD9,000USD11,000USD110,000USD
    Total Other Income Expense Net6,071,000USD6,527,000USD5,477,000USD6,215,000USD5,980,000USD5,269,000USD6,371,000USD4,560,000USD
    Selling And Marketing Expenses—732,749USD——————
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USD
    Total Revenue0USD0USD0USD0USD
    Cost Of Revenue281,000USD156,000USD100,000USD300,000USD
    Gross Profit-281,000USD-156,000USD-100,000USD-300,000USD
    Research Development170,640,000USD96,671,000USD69,264,000USD33,437,000USD
    Selling General Administrative65,382,000USD33,049,000USD21,861,000USD14,038,000USD
    Total Operating Expenses236,022,000USD129,720,000USD91,125,000USD47,475,000USD
    Operating Income-236,022,000USD-129,720,000USD-91,125,000USD-47,475,000USD
    Interest Income27,761,000USD21,292,000USD10,508,000USD709,000USD
    Interest Expense3,607,000USD572,000USD0USD737,000USD
    Net Interest Income24,154,000USD20,720,000USD10,508,000USD709,000USD
    Income Before Tax-211,823,000USD-109,002,000USD-76,330,000USD-46,827,000USD
    Income Tax Expense361,000USD355,000USD99,000USD-737,000USD
    Tax Provision361,000USD355,000USD99,000USD0USD
    Net Income-212,184,000USD-109,357,000USD-76,429,000USD-46,090,000USD
    Net Income From Continuing Ops-212,184,000USD-109,357,000USD-64,094,000USD-46,827,000USD
    Ebit-208,216,000USD-108,430,000USD-76,330,000USD-47,475,000USD
    Ebitda-207,935,000USD-108,274,000USD-76,230,000USD-47,386,000USD
    Depreciation And Amortization281,000USD156,000USD100,000USD89,000USD
    Reconciled Depreciation281,000USD156,000USD100,000USD89,000USD
    Total Other Income Expense Net24,199,000USD20,718,000USD14,795,000USD648,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Assets735,071,000USD750,213,000USD806,879,000USD630,456,000USD665,061,000USD709,266,000USD496,773,000USD495,145,000USD
    Cash And Equivalents98,676,000USD———————
    Cash And Short Term Investments717,746,000USD730,158,000USD791,152,000USD615,920,000USD649,973,000USD694,662,000USD489,881,000USD487,363,000USD
    Short Term Investments619,070,000USD641,245,000USD700,007,000USD475,256,000USD522,636,000USD571,987,000USD297,447,000USD294,725,000USD
    Total Current Assets732,761,000USD747,455,000USD803,898,000USD627,168,000USD661,592,000USD705,600,000USD493,615,000USD493,152,000USD
    Other Current Assets15,015,000USD17,297,000USD12,746,000USD11,248,000USD11,619,000USD10,938,000USD3,734,000USD5,789,000USD
    Other Non Current Assets496,000USD———————
    Total Liabilities90,907,000USD———————
    Total Current Liabilities30,360,000USD31,142,000USD36,641,000USD26,744,000USD20,606,000USD18,741,000USD23,316,000USD25,473,000USD
    Other Current Liabilities8,881,000USD———————
    Total Stockholder Equity644,164,000USD688,429,000USD739,826,000USD573,390,000USD614,165,000USD660,362,000USD443,587,000USD467,960,000USD
    Total Equity Including Noncontrolling Interest644,164,000USD———————
    Property Plant Equipment Net1,814,000USD2,037,000USD2,255,000USD2,448,000USD2,629,000USD2,827,000USD2,320,000USD1,757,000USD
    Accounts Payable6,840,000USD11,759,000USD9,018,000USD7,268,000USD6,350,000USD6,703,000USD7,948,000USD3,553,000USD
    Short Term Debt315,000USD419,000USD611,000USD656,000USD632,000USD479,000USD130,000USD76,000USD
    Common Stock4,000USD4,000USD4,000USD3,000USD3,000USD3,000USD3,000USD3,000USD
    Retained Earnings-633,222,000USD-573,690,000USD-510,186,000USD-449,655,000USD-387,334,000USD-332,087,000USD-298,002,000USD-268,545,000USD
    Accumulated Other Comprehensive Income-1,608,000USD-571,000USD965,000USD718,000USD273,000USD535,000USD289,000USD741,000USD
    Total Liab—61,784,000USD67,053,000USD57,066,000USD50,896,000USD48,904,000USD53,186,000USD27,185,000USD
    Other Current Liab—18,964,000USD27,012,000USD18,820,000USD13,624,000USD11,559,000USD15,238,000USD21,844,000USD
    Capital Stock—4,000USD4,000USD3,000USD3,000USD3,000USD3,000USD3,000USD
    Cash—88,913,000USD91,145,000USD140,664,000USD127,337,000USD122,675,000USD192,434,000USD192,638,000USD
    Net Debt—-57,852,000USD-89,281,000USD-109,687,000USD-96,415,000USD-92,033,000USD-162,434,000USD-190,850,000USD
    Short Long Term Debt Total—31,061,000USD1,864,000USD30,977,000USD30,922,000USD30,642,000USD30,000,000USD1,788,000USD
    Long Term Debt—29,365,000USD29,159,000USD28,948,000USD28,737,000USD28,529,000USD28,322,000USD—
    Property Plant Equipment Gross—2,037,000USD2,255,000USD2,448,000USD2,629,000USD2,827,000USD2,721,000USD2,149,000USD
    Common Stock Shares Outstanding—38,491,433shares35,295,663shares35,178,691shares35,024,592shares33,324,745shares29,935,551shares29,935,551shares
    Non Current Assets Total—2,757,999USD2,981,000USD3,288,000USD3,469,000USD3,666,000USD3,158,000USD1,993,000USD
    Non Current Liabilities Total—30,642,000USD30,412,000USD30,322,000USD30,290,000USD30,163,000USD29,870,000USD1,712,000USD
    Non Currrent Assets Other—720,999USD726,000USD753,734USD840,000USD839,000USD838,000USD236,000USD
    Net Working Capital—716,313,000USD767,257,000USD600,424,000USD640,986,000USD686,859,000USD470,299,000USD467,679,000USD
    Unclassified Non Current Liabilities—1,277,000USD1,253,000USD1,373,000USD1,553,000USD1,634,000USD1,548,000USD1,712,000USD
    Unclassified Equity—1,262,682,000USD1,249,039,000USD1,022,321,000USD1,001,220,000USD991,908,000USD741,294,000USD735,758,000USD
    Intangible Assets———86,266USD————
    Non Current Liabilities Other———1,000USD————
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USD
    Total Assets806,879,000USD496,773,000USD367,996,000USD200,205,000USD92,411,000USD8,319,000USD
    Other Current Assets12,746,000USD3,734,000USD5,280,000USD3,880,000USD2,448,000USD562,000USD
    Total Liab67,053,000USD53,186,000USD22,875,000USD23,605,000USD156,614,000USD30,180,000USD
    Total Stockholder Equity739,826,000USD443,587,000USD345,121,000USD176,600,000USD-64,203,000USD-21,861,000USD
    Other Current Liab27,012,000USD15,238,000USD8,145,000USD6,109,000USD5,546,000USD5,709,676USD
    Common Stock4,000USD3,000USD2,000USD2,000USD1,000USD2,000USD
    Capital Stock4,000USD3,000USD2,000USD2,000USD4,000USD112,269,171USD
    Retained Earnings-510,186,000USD-298,002,000USD-188,645,000USD-112,216,000USD-65,389,000USD-112,821,000USD
    Cash91,145,000USD192,434,000USD360,382,000USD194,611,000USD88,036,000USD4,503,000USD
    Cash And Short Term Investments791,152,000USD489,881,000USD360,382,000USD194,611,000USD88,036,000USD4,503,000USD
    Total Current Assets803,898,000USD493,615,000USD365,662,000USD198,491,000USD90,484,000USD5,065,000USD
    Total Current Liabilities36,641,000USD23,316,000USD21,439,000USD22,578,000USD13,424,000USD24,876,000USD
    Net Debt-89,281,000USD-162,434,000USD-358,281,000USD-193,277,000USD-80,979,000USD17,137,000USD
    Short Term Debt611,000USD130,000USD665,000USD307,000USD5,319,000USD16,689,000USD
    Short Long Term Debt Total1,864,000USD30,000,000USD2,101,000USD1,334,000USD7,057,000USD21,640,000USD
    Long Term Debt29,159,000USD28,322,000USD——404,000USD4,951,000USD
    Short Term Investments700,007,000USD297,447,000USD0USD———
    Accounts Payable9,018,000USD7,948,000USD12,629,000USD16,162,000USD2,559,000USD2,377,000USD
    Property Plant Equipment Net2,255,000USD2,320,000USD2,100,000USD1,598,000USD1,747,000USD294,000USD
    Property Plant Equipment Gross2,255,000USD2,721,000USD2,345,000USD1,743,000USD1,803,000USD955,000USD
    Accumulated Other Comprehensive Income965,000USD289,000USD0USD-2,000USD-141,856,000USD-52,112USD
    Common Stock Shares Outstanding35,295,663shares27,606,022shares22,315,877shares1,039,490shares801,467shares1,511,512shares
    Non Current Assets Total2,981,000USD3,158,000USD2,334,000USD1,714,000USD1,927,000USD3,254,000USD
    Non Current Liabilities Total30,412,000USD29,870,000USD1,436,000USD1,027,000USD143,190,000USD5,304,000USD
    Non Currrent Assets Other726,000USD838,000USD234,000USD116,000USD180,000USD2,960,000USD
    Net Working Capital767,257,000USD470,299,000USD344,223,000USD175,913,000USD125,266,000USD740,467USD
    Unclassified Non Current Liabilities1,253,000USD1,548,000USD1,436,000USD—142,428,000USD—
    Unclassified Equity1,249,039,000USD741,294,000USD533,762,000USD288,814,000USD143,037,000USD-21,259,059USD
    Current Deferred Revenue——-13,294,000USD—4,096,000USD-16,689,000USD
    Non Current Liabilities Other———1,027,000USD358,000USD277,000USD
    Other Assets————180,000USD0USD
    Short Long Term Debt————5,000,000USD16,689,000USD
    Net Tangible Assets————-64,203,000USD-28,809,000USD
    Unclassified Current Liabilities————-9,096,000USD-16,588,676USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Net Income-63,504,000USD-60,531,000USD-62,321,000USD-55,247,000USD-34,085,000USD-29,457,000USD-26,599,000USD-26,352,000USD
    Depreciation89,000USD89,000USD87,000USD85,000USD20,000USD9,000USD11,000USD110,000USD
    Stock Based Compensation11,946,000USD10,043,000USD9,514,000USD8,420,000USD6,363,000USD4,334,000USD4,332,000USD4,091,000USD
    Other Non Cash Items-746,000USD-1,296,000USD-1,408,000USD-1,459,000USD-5,882,000USD367,000USD-2,508,000USD-444,000USD
    Change In Working Capital-10,021,000USD8,395,000USD6,329,000USD283,000USD-7,792,000USD-2,826,000USD7,403,000USD7,202,000USD
    Total Cash From Operating Activities-62,236,000USD-43,300,000USD-47,799,000USD-47,918,000USD-41,376,000USD-27,573,000USD-17,361,000USD-15,393,000USD
    Capital Expenditures0USD-20,000USD-26,000USD-36,000USD-851,000USD-449,000USD-8,000USD-3,000USD
    Free Cash Flow-62,236,000USD-43,320,000USD-47,825,000USD-47,954,000USD-42,227,000USD-28,022,000USD-17,353,000USD-15,390,000USD
    Investments58,307,000USD-222,873,000USD49,538,000USD51,689,000USD-272,633,000USD-1,426,000USD-71,090,000USD-219,749,000USD
    Total Cashflows From Investing Activities58,307,000USD-222,893,000USD49,538,000USD51,689,000USD-272,633,000USD-1,426,000USD-71,090,000USD-219,749,000USD
    Total Cash From Financing Activities1,697,000USD216,676,000USD11,588,000USD892,000USD244,251,000USD28,797,000USD426,000USD173,191,000USD
    Issuance Of Capital Stock0USD206,343,000USD9,766,000USD0USD234,003,000USD0USD-171,000USD172,624,000USD
    Change In Cash7,749,000USD-59,500,000USD13,327,000USD4,663,000USD-69,758,000USD-202,000USD-88,025,000USD-61,951,000USD
    Begin Period Cash Flow81,164,000USD140,664,000USD127,577,000USD122,914,000USD192,672,000USD192,874,000USD280,899,000USD342,850,000USD
    End Period Cash Flow88,913,000USD81,164,000USD140,904,000USD127,577,000USD122,914,000USD192,672,000USD192,874,000USD280,899,000USD
    Other Cashflows From Financing Activities687,000USD578,000USD—892,000USD10,248,000USD441,000USD597,000USD567,000USD
    Unclassified Financing Cash Flow1,010,000USD9,755,000USD1,822,000USD——28,356,000USD——
    Change To Account Receivables—-1,708USD——————
    Change To Inventory—1,001,074USD——————
    Other Cashflows From Investing Activities—1,552,282USD——-62,120USD—23,000,000USD-219,752,000USD
    Unclassified Investing Cash Flow——————-22,992,000USD219,755,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USD
    Net Income-212,184,000USD-109,357,000USD-76,429,000USD-46,827,000USD-35,969,000USD-40,837,000USD
    Depreciation281,000USD156,000USD100,000USD89,000USD32,000USD322,000USD
    Stock Based Compensation34,340,000USD16,815,000USD5,530,000USD2,089,000USD507,000USD983,000USD
    Other Non Cash Items-6,356,000USD-4,771,000USD290,000USD272,000USD6,610,000USD6,487,000USD
    Change In Working Capital3,526,000USD3,231,000USD-2,953,000USD2,125,000USD1,286,000USD337,000USD
    Total Cash From Operating Activities-180,393,000USD-93,926,000USD-73,462,000USD-42,252,000USD-27,534,000USD-32,708,000USD
    Capital Expenditures-933,000USD-505,000USD-89,000USD-151,000USD-68,000USD-22,000USD
    Free Cash Flow-181,326,000USD-94,431,000USD-73,551,000USD-42,403,000USD-27,602,000USD-32,730,000USD
    Investments-393,366,000USD-292,332,000USD-89,000USD-151,000USD344,000USD-22,000USD
    Total Cashflows From Investing Activities-394,299,000USD-292,332,000USD-89,000USD-151,000USD-68,000USD-22,000USD
    Net Borrowings0USD28,988,000USD0USD—-4,583,000USD—
    Total Cash From Financing Activities473,407,000USD218,314,000USD239,379,000USD148,978,000USD89,929,000USD34,247,000USD
    Issuance Of Capital Stock450,112,000USD187,302,000USD199,078,000USD53,500,000USD89,861,000USD20,084,000USD
    Change In Cash-101,285,000USD-167,944,000USD165,828,000USD106,575,000USD62,327,000USD1,517,000USD
    Begin Period Cash Flow192,672,000USD360,616,000USD194,788,000USD88,213,000USD25,886,000USD3,309,000USD
    End Period Cash Flow91,387,000USD192,672,000USD360,616,000USD194,788,000USD88,213,000USD4,826,000USD
    Other Cashflows From Financing Activities578,000USD2,024,000USD40,301,000USD95,478,000USD94,444,000USD20,247,000USD
    Unclassified Financing Cash Flow22,717,000USD———-89,793,000USD-6,084,000USD
    Change To Liabilities————1,315,000USD-510,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    No revenue breakdown is currently published for this company.

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.