Start here if you're new
what it is
Disc Medicine develops drugs for serious blood diseases.
how it gets paid
Last year Disc Medicine made n/a in revenue. bitopertin was the main engine at $0, or 30% of sales.
what just happened
Disc Medicine posted a -$4.39 EPS in the latest quarter, and the loss machine is still running.
At a glance
B+ balance sheet — decent shape, but not bulletproof
-$3.96 fy2024 eps est
0.9 beta
~$2B market cap
mid cap
xvary composite: 58/100 — below average
What they do
Disc Medicine develops drugs for serious blood diseases.
The moat is focus, not scale. clinical-stage → not selling drugs yet → your payoff depends on trial data. You are backing 3 named programs and 84 employees, so one readout can move the whole story.
How they make money
n/a
annual revenue
bitopertin
$0
DISC-0974
$0
DISC-3405
$0
DISC-0998
$0
The products that matter
lead drug candidate
bitopertin
only visible asset in this snapshot · FDA rejection in feb 2026
it is the whole story right now. the company has no approved products, reported -$19.88M in revenue, and received a Complete Response Letter for bitopertin in february 2026.
binary value driver
Key numbers
-$3.96
fy2024 eps est
n/a
fy rev est
n/a
trailing p/e
n/a
dividend yield
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 2 — safer than 80% of stocks
- price stability 5 / 100
- long-term debt $30M (1% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for IRON right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Disc Medicine posted a -$4.39 EPS in the latest quarter, and the loss machine is still running.
The company remains pre-revenue, so the loss line matters more than the top line. Quarterly EPS history also stayed negative across 2024.
$0
revenue
-$4.39
eps
n/a
n/a
eps loss
The $4.39 loss per share shows the company is still funding trials, not sales.
source: company filing, latest quarter
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What could go wrong
the #1 risk is the FDA path for bitopertin after the february 2026 Complete Response Letter. you do not have a diversified pipeline here cushioning the blow.
med
bitopertin stays blocked
The FDA already rejected accelerated approval in february 2026. If management cannot show a credible resubmission or a clear next step, the market has to reprice a $2B company with no approved revenue source.
100% of the visible equity story in this snapshot is tied to one unapproved asset.
med
cash burn outruns the buffer
Disc Medicine ended 2025 with $791.2M in cash and a $212.18M net loss. That sounds comfortable until a trial setback, extra data request, or longer regulatory loop stretches the timeline.
At the 2025 loss pace, cash covers roughly 3.7 years. If spending rises, the runway gets shorter and dilution gets less theoretical.
med
the lawsuit investigation adds noise at the worst time
Pomerantz LLP said on february 19, 2026 that it is investigating potential claims on behalf of investors. Legal headlines rarely create the core problem in biotech, but they can amplify pressure when confidence is already weak.
The direct financial hit is unclear from the current data. The immediate cost is credibility drag while management is trying to re-establish a regulatory path.
A forced delay or failed comeback for bitopertin would pressure a company with $0 product revenue and a 2025 net loss of $212.18M. The balance sheet buys time. It does not buy approval.
source: institutional data · regulatory filings · risk analysis
Pay attention to
regulatory
the FDA response path for bitopertin
This is the whole setup. You want specifics on what the Complete Response Letter requires and whether management sounds like it is fixing a process problem or a deeper data problem.
cash
runway against the $212.18M 2025 loss
$791.2M in cash looks strong. The question is whether that cushion stays roughly intact or starts shrinking faster as the regulatory detour gets more expensive.
calendar
TD Cowen and Leerink appearances in early march
Conference presentations matter because management can either stay vague or finally tell you what the next milestone looks like. In a one-asset biotech, wording matters.
clinical
RALLY-MF data expected in H2 2026
Updated data from the open-label RALLY-MF study is one of the few upcoming events that can put fresh evidence back into the story instead of just legal and regulatory headlines.
Analyst rankings
coverage
thin
This stock does not come with the kind of broad ranking stack you get from large-cap names. in human-speak, you should not confuse sparse coverage with strong consensus.
usefulness
low
Traditional analyst scorecards matter less when the next move is dominated by one FDA decision. A model cannot smooth out a Complete Response Letter.
what matters
path
The ranking you actually need is simple: clearer regulatory path, better stock. Murkier path, worse stock. Welcome to biotech.
source: institutional data
Institutional activity
institutional ownership data for IRON is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$74
current price
n/a
target midpoint · n/a from current
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