WATERTOWN, Mass. — May 5, 2026 — Leads & Copy — Disc Medicine, Inc. (NASDAQ:IRON), a clinical-stage biopharmaceutical company, announced its first quarter 2026 financial results and provided a review of recent program and corporate developments.
The company reported a strong financial position, ending the first quarter with approximately $730 million in cash, cash equivalents, and marketable securities, which are expected to fund operational plans into 2029.
Disc Medicine is focused on discovering, developing, and commercializing novel treatments for patients suffering from serious hematologic diseases.
John Quisel, J.D., Ph.D., Chief Executive Officer and President of Disc, said the company continues to make strong progress across its portfolio. Enrollment has been completed in the Phase 3 trial of bitopertin in EPP, with topline data expected in the fourth quarter of 2026. Phase 2 data for DISC-0974 in MF anemia was selected for oral presentation at ASCO, and multiple additional clinical trials across the company’s pipeline continue to advance.
Recent highlights and anticipated milestones include:
Bitopertin (GlyT1 Inhibitor, Heme Synthesis Modulator): Enrollment is complete for the Phase 3 APOLLO clinical trial of bitopertin in adults and adolescents with EPP. Topline data is expected in Q4 2026. The study size was expanded to 183 patients. Following completion of APOLLO, the company expects to submit a response to the CRL and receive an FDA decision by mid-2027. A Type A meeting with the US FDA to review approach for resubmission is scheduled for Q2 2026.
DISC-0974 (Anti-Hemojuvelin Antibody, Hepcidin Suppression): Updated data from the Phase 2 RALLY-MF trial of DISC-0974 in patients with anemia of myelofibrosis (MF) will be shared in an oral presentation at ASCO in June, covering N=61 patients with data through April 27, 2026. Topline data from the RALLY-MF study will be shared in Q4 2026, with an end of Phase 2 meeting with the FDA expected by the end of the year. The Phase 2 study is progressing in patients with inflammatory bowel disease (IBD), with initial data expected in 2027.
DISC-3405 (Anti-TMPRSS6 Antibody, Hepcidin Induction): The ongoing Phase 2 study is progressing in patients with polycythemia vera, as is the Phase 1b study in patients with sickle cell disease, with initial data expected in Q4 2026.
First Quarter 2026 Financial Results:
Cash Position: Cash, cash equivalents, and marketable securities were $730.2 million as of March 31, 2026.
Research and Development Expenses: R&D expenses were $45.9 million for the three months ended March 31, 2026, compared to $27.8 million for the three months ended March 31, 2025. The increase was driven by the progression of Disc’s portfolio, including bitopertin’s clinical studies and drug manufacturing, the advancement of the DISC-0974 and DISC-3405 programs, and increased headcount.
Selling, General and Administrative Expenses: SG&A expenses were $23.6 million for the three months ended March 31, 2026, compared to $12.2 million for the three months ended March 31, 2025. The increase was primarily due to increased headcount and establishing infrastructure to support potential commercialization.
Net Loss: Net loss was $63.5 million for the three months ended March 31, 2026, compared to $34.1 million for the three months ended March 31, 2025. The increase was due to higher operating costs in the current period.
Disc Medicine is building a portfolio of therapeutic candidates that aim to address a wide spectrum of hematologic diseases by targeting fundamental biological pathways of red blood cell biology, specifically heme biosynthesis and iron homeostasis.
Source: Disc Medicine
