Disc Medicine (IRON) AI Stock Analysis

• Market Cap: $2.91B
• Dividend Yield: N/A
• Average Volume (3M): 545.25K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.74
• Revenue Growth: N/A
• EPS Growth: -34.96%
• Country: US
• Employees: 94
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.77
• Shares Outstanding: 37,750,160
• 10 Day Avg. Volume: 377,488
• 30 Day Avg. Volume: 545,250
• PEG Ratio: -1.01
• Price to Book (P/B): 3.95
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -18.53
• Enterprise Value/Market Cap: 0.76
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -23.07K
• Enterprise Value/Ebitda: -13.70
• 1Y Price Target: $121.10
• Price Target Upside: 70.47% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 13
• EPS Forecast (FY): -6.72
• Revenue Forecast (FY): $47.45M

• Rating: 52 Neutral
• Price Target: $72.00 ▲(1.35% Upside)

The score is held back primarily by pre-revenue financials with rising losses and accelerating cash burn, alongside weak technical momentum. Offsetting factors include a comparatively strong, low-leverage balance sheet and positive, recent corporate developments around bitopertin and pipeline progress that support the longer-term thesis.

Positive Factors

Balance Sheet Strength

Disc’s sizable equity base and very low leverage materially reduce near-term liquidity risk and preserve strategic optionality. For a pre-revenue biotech, a strong balance sheet supports continued clinical programs, regulatory activities, and potential commercial buildup over the next several years.

Regulatory Priority for Bitopertin

Receiving an FDA Commissioner’s National Priority Review Voucher materially reduces regulatory timeline risk and improves agency engagement. This structural regulatory advantage can accelerate potential approval and time-to-market, improving the company’s path to commercial revenue and partner interest.

Positive Phase 2 Data (DISC-0974)

Robust early RALLY-MF results demonstrate biological activity and clinically meaningful hemoglobin and transfusion benefits in myelofibrosis anemia. Durable, tolerable Phase 2 signals across endpoints broaden the company’s hematology franchise and lower technical risk for a future registrational path or partnerships.

Negative Factors

Accelerating Cash Burn

Operating and free cash burn has roughly doubled on a TTM basis, indicating rising program spend as trials scale. Persistently high negative cash flows increase the company’s reliance on external capital and compress the time window to demonstrate regulatory or clinical de-risking milestones before additional financing is needed.

Pre-revenue with Widening Losses

Disc remains without product revenue while losses have expanded materially as development advances. Structural dependence on R&D spending without offsetting sales means value creation hinges on successful trial outcomes and approvals rather than operating cash generation, elevating binary execution risk over the medium term.

Financing Dependence / Dilution Risk

The company’s recent equity offering underscores reliance on capital markets to fund operations and commercialization. Recurrent or large equity raises can dilute existing shareholders and create execution risk if market conditions tighten before pivotal approvals or commercialization cash flow materialize.

Disc Medicine Business Overview & Revenue Model

Company Description

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 candidates that address a spectrum of hematologic diseases by targeting fundamental biological pathways of red blood cell biology, primarily heme biosynthesis and iron homeostasis. The company is based in Watertown, Massachusetts.

How the Company Makes Money

Disc Medicine generates revenue primarily through the development and commercialization of its proprietary drug candidates. The company engages in research and development activities to bring new therapies to market, which involve clinical trials and regulatory approval processes. Once a drug is approved, Disc Medicine can earn revenue through direct sales, licensing agreements, and partnerships with other pharmaceutical companies. These collaborations can include milestone payments, royalties, and co-promotion deals. Additionally, the company may receive funding from grants or investment partnerships that support its research initiatives.

Disc Medicine Financial Statement Overview

Summary

Balance sheet strength (improving equity and low leverage) supports flexibility, but the company remains pre-revenue with materially widening losses and accelerating cash burn, increasing dependence on future financing until commercialization.

Income Statement

Disc Medicine remains a pre-revenue biotech across 2020–2024 and TTM (Trailing-Twelve-Months), with no top-line contribution to offset operating costs. Losses have widened materially over time (net loss grew from about $36M in 2021 to $109M in 2024 and ~$181M in TTM), suggesting increasing R&D and operating spend as programs advance. The main strength is that losses are typical for a development-stage biotech, but the key weakness is the clear trajectory of rising losses without revenue visibility in the provided data.

Balance Sheet

The balance sheet is a relative bright spot: equity is sizable and has improved dramatically versus 2020–2021 when equity was negative, reaching ~$444M in 2024 and ~$573M in TTM (Trailing-Twelve-Months). Leverage is low with debt-to-equity around ~0.07 in 2024 and ~0.05 in TTM, which reduces financial risk and supports funding flexibility. The primary weakness is ongoing negative returns on equity (driven by net losses), meaning the company is consuming capital rather than generating it.

Cash Flow

Cash burn is significant and increasing: operating cash flow was about -$94M in 2024 and deteriorated to roughly -$165M in TTM (Trailing-Twelve-Months), with free cash flow closely tracking operating burn (about -$166M TTM). A positive is that cash flow broadly mirrors reported losses (free cash flow to net income ~1.0), indicating limited non-cash distortion. The key concern is the scale and acceleration of cash usage, which raises future financing dependence despite the currently low debt load.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-96.00K	0.00	0.00	0.00	0.00	-322.00K
EBITDA	-161.72M	-108.27M	-76.23M	-47.39M	-30.90M	-33.69M
Net Income	-181.11M	-109.36M	-76.43M	-46.83M	-35.97M	-40.84M
Balance Sheet
Total Assets	630.46M	496.77M	368.00M	200.21M	92.41M	8.32M
Cash, Cash Equivalents and Short-Term Investments	615.92M	489.88M	360.38M	194.61M	88.04M	4.50M
Total Debt	30.98M	30.00M	2.10M	1.33M	7.06M	21.64M
Total Liabilities	57.07M	53.19M	22.88M	23.61M	156.61M	30.18M
Stockholders Equity	573.39M	443.59M	345.12M	176.60M	-64.20M	-21.86M
Cash Flow
Free Cash Flow	-166.03M	-94.43M	-73.55M	-42.40M	-27.60M	-32.73M
Operating Cash Flow	-164.67M	-93.93M	-73.46M	-42.25M	-27.53M	-32.71M
Investing Cash Flow	-172.83M	-292.33M	-89.00K	-151.00K	-68.00K	-22.00K
Financing Cash Flow	285.53M	218.31M	239.38M	148.98M	89.93M	34.25M

Disc Medicine Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 71.04
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IRON, the sentiment is Negative. The current price of 71.04 is below the 20-day moving average (MA) of 79.44, below the 50-day MA of 86.00, and above the 200-day MA of 64.52, indicating a neutral trend. The MACD of -3.14 indicates Positive momentum. The RSI at 31.22 is Neutral, neither overbought nor oversold. The STOCH value of 14.21 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IRON.

Disc Medicine Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARQT	60 Neutral	$3.27B	-74.36	-28.17%	―	129.21%	80.35%
TARS	60 Neutral	$3.19B	-36.58	-28.35%	―	182.44%	47.21%
TVTX	56 Neutral	$2.59B	-26.18	-410.78%	―	114.22%	77.02%
IRON	52 Neutral	$2.91B	-13.26	-34.78%	―	―	-34.96%
RXRX	52 Neutral	$2.52B	-2.56	-91.06%	―	-32.98%	-18.46%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
AGIO	49 Neutral	$1.68B	-4.00	-27.57%	―	36.26%	-158.98%

Disc Medicine Corporate Events

Disc Medicine prepares for potential 2026 bitopertin FDA decision

On January 12, 2026, Disc Medicine highlighted 2025 as a transformative year in which it submitted and secured priority review for a U.S. new drug application for bitopertin, received a Commissioner’s National Priority Review Voucher, reported positive initial Phase 2 data for DISC-0974 in myelofibrosis-related anemia, advanced DISC-3405 into proof-of-concept studies, and strengthened its balance sheet to $791 million in cash and securities as of December 31, 2025, providing runway into 2029. For 2026, the company outlined plans centered on an anticipated FDA decision and potential U.S. launch of bitopertin for erythropoietic protoporphyria, continued enrollment of the APOLLO confirmatory trial, Phase 2 progression and regulatory interactions for DISC-0974 including expansion into inflammatory bowel disease–associated anemia, and continued Phase 2 and Phase 1b development of DISC-3405 in polycythemia vera and sickle cell disease, positioning Disc to transition into a fully integrated clinical and commercial hematology player.

The most recent analyst rating on (IRON) stock is a Buy with a $120.00 price target. To see the full list of analyst forecasts on Disc Medicine stock, see the IRON Stock Forecast page.

Disc Medicine Advances Bitopertin in FDA Pilot Program

On December 7, 2025, Disc Medicine held a conference call to discuss its data presented at the 67th American Society of Hematology Annual Meeting and its operational plans. The company is advancing its investigational agents, with bitopertin selected for the FDA’s Commissioner’s National Priority Voucher Pilot Program, potentially accelerating its approval and launch by January 2026. The company is also progressing with clinical trials for DISC-0974 and DISC-3405, aiming to address a range of hematologic disorders, which could significantly impact its market positioning and stakeholder interests.

The most recent analyst rating on (IRON) stock is a Buy with a $115.00 price target. To see the full list of analyst forecasts on Disc Medicine stock, see the IRON Stock Forecast page.

Disc Medicine Announces $210.9M Stock Offering

On October 20, 2025, Disc Medicine announced an underwritten offering of common stock and pre-funded warrants, aiming to raise approximately $210.9 million after expenses. The proceeds will support the potential commercialization of bitopertin for erythropoietic protoporphyria and X-linked protoporphyria, as well as fund research and development. The offering, involving major underwriters like Jefferies and Morgan Stanley, is expected to close on October 22, 2025, and will provide sufficient funding for the company’s operations into 2029.

The most recent analyst rating on (IRON) stock is a Buy with a $120.00 price target. To see the full list of analyst forecasts on Disc Medicine stock, see the IRON Stock Forecast page.

Disc Medicine Updates Hematology Portfolio and Strategic Priorities

On October 20, 2025, Disc Medicine provided an update on its hematology portfolio, highlighting its strategic priorities and anticipated milestones for late 2025 and 2026. The company is accelerating the development of its key investigational drugs, bitopertin, DISC-0974, and DISC-3405, with a focus on potential US approval and launch of bitopertin for erythropoietic protoporphyria. The company also plans to advance DISC-0974 for anemia of myelofibrosis and DISC-3405 for polycythemia vera, with data expected in 2026. Disc Medicine’s strong financial position, with $616 million in cash and equivalents, supports its ongoing efforts to expand its pipeline and explore new indications.

The most recent analyst rating on (IRON) stock is a Buy with a $110.00 price target. To see the full list of analyst forecasts on Disc Medicine stock, see the IRON Stock Forecast page.

Disc Medicine Receives FDA Priority Voucher for Bitopertin

On October 16, 2025, Disc Medicine announced it received a Commissioner’s National Priority Voucher from the FDA for its drug bitopertin, aimed at treating erythropoietic protoporphyria (EPP) and X-linked protoporphyria. This voucher is part of a program to expedite drug development and review, aligning with national health priorities, and offers benefits such as enhanced communications and a reduced review timeline, potentially impacting the company’s market positioning and stakeholder interests positively.

The most recent analyst rating on (IRON) stock is a Buy with a $110.00 price target. To see the full list of analyst forecasts on Disc Medicine stock, see the IRON Stock Forecast page.