IRON on Nasdaq
Disc Medicine, Inc.
Pharmaceutical preparations company, listed on Nasdaq (IRON).
Price unavailable
Last updated Oct 18, 2026.
Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Research and development | $170.6M | $96.7M | $69.3M |
| Selling, general and administrative | $65.4M | $33.0M | $21.9M |
| Total operating expenses | $236.0M | $129.7M | $91.1M |
| Loss from operations | -$236.0M | -$129.7M | -$91.1M |
| Interest income | $27.8M | $21.3M | $14.8M |
| Interest expense | -$3.6M | -$572.0K | $0 |
| Other income (expense) | $45.0K | -$2.0K | -$2.0K |
| Total other income (expense), net | $24.2M | $20.7M | $14.8M |
| Loss before income taxes | -$211.8M | -$109.0M | -$76.3M |
| Income tax expense | -$361.0K | -$355.0K | -$99.0K |
| Net loss per share, basic | -$6.01 | -$3.96 | -$3.42 |
| Net loss per share, diluted | -$6.01 | -$3.96 | -$3.42 |
| Weighted-average common shares outstanding-basic | 35.3M shares | 27.6M shares | 22.3M shares |
| Weighted-average common shares outstanding-diluted | 35.3M shares | 27.6M shares | 22.3M shares |
| Net loss | -$212.2M | -$109.4M | -$76.4M |
| Foreign currency translation adjustments | -$1.0K | -$27.0K | $0 |
| Unrealized gain on marketable securities | $677.0K | $316.0K | $0 |
| Total other comprehensive income | $676.0K | $289.0K | $0 |
| Comprehensive loss | -$211.5M | -$109.1M | -$76.4M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $91.1M | $192.4M | ||
| Marketable securities | $700.0M | $297.4M | ||
| Prepaid expenses and other current assets | $12.7M | $3.7M | ||
| Total current assets | $803.9M | $493.6M | ||
| Property and equipment, net | $1.2M | $751.0K | ||
| Right-of-use assets, operating leases | $1.1M | $1.6M | ||
| Other assets | $726.0K | $838.0K | ||
| Total assets | $806.9M | $496.8M | ||
| Accounts payable | $9.0M | $7.9M | ||
| Accrued external research and development expenses | $11.5M | $7.1M | ||
| Other accrued expenses | $15.6M | $8.1M | ||
| Operating lease liabilities, current | $611.0K | $130.0K | ||
| Total current liabilities | $36.6M | $23.3M | ||
| Long-term debt, net | $29.2M | $28.3M | ||
| Operating lease liabilities, non-current | $1.3M | $1.5M | ||
| Total liabilities | $67.1M | $53.2M | ||
| Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued or outstanding as of December 31, 2025 and December 31, 2024 | $0 | $0 | ||
| Common stock, $0.0001 par value; 100,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 37,890,616 and 29,865,030 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $4.0K | $3.0K | ||
| Additional paid-in capital | $1.2B | $741.3M | ||
| Accumulated other comprehensive income | $965.0K | $289.0K | ||
| Accumulated deficit | -$510.2M | -$298.0M | ||
| Total stockholders' equity | $739.8M | $443.6M | $345.1M | $176.6M |
| Total liabilities and stockholders' equity | $806.9M | $496.8M | ||
| Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 10.0M shares | 10.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized | 100.0M shares | 100.0M shares | ||
| Common stock, shares issued | 37.9M shares | 29.9M shares | ||
| Common stock, shares outstanding | 37.9M shares | 29.9M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $91.1M | $192.4M | ||
| Marketable securities | $700.0M | $297.4M | ||
| Prepaid expenses and other current assets | $12.7M | $3.7M | ||
| Total current assets | $803.9M | $493.6M | ||
| Property and equipment, net | $1.2M | $751.0K | ||
| Right-of-use assets, operating leases | $1.1M | $1.6M | ||
| Other assets | $726.0K | $838.0K | ||
| Total assets | $806.9M | $496.8M | ||
| Accounts payable | $9.0M | $7.9M | ||
| Accrued external research and development expenses | $11.5M | $7.1M | ||
| Other accrued expenses | $15.6M | $8.1M | ||
| Operating lease liabilities, current | $611.0K | $130.0K | ||
| Total current liabilities | $36.6M | $23.3M | ||
| Long-term debt, net | $29.2M | $28.3M | ||
| Operating lease liabilities, non-current | $1.3M | $1.5M | ||
| Total liabilities | $67.1M | $53.2M | ||
| Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued or outstanding as of December 31, 2025 and December 31, 2024 | $0 | $0 | ||
| Common stock, $0.0001 par value; 100,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 37,890,616 and 29,865,030 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $4.0K | $3.0K | ||
| Additional paid-in capital | $1.2B | $741.3M | ||
| Accumulated other comprehensive income | $965.0K | $289.0K | ||
| Accumulated deficit | -$510.2M | -$298.0M | ||
| Total stockholders' equity | $739.8M | $443.6M | $345.1M | $176.6M |
| Total liabilities and stockholders' equity | $806.9M | $496.8M | ||
| Preferred stock, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 10.0M shares | 10.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized | 100.0M shares | 100.0M shares | ||
| Common stock, shares issued | 37.9M shares | 29.9M shares | ||
| Common stock, shares outstanding | 37.9M shares | 29.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$212.2M | -$109.4M | -$76.4M |
| Depreciation and amortization | $281.0K | $156.0K | $100.0K |
| Stock-based compensation | $34.3M | $16.8M | $5.5M |
| Amortization/accretion of investment securities | -$8.5M | -$5.3M | $0 |
| Loss from initial consolidation of variable interest entity | $852.0K | $0 | $0 |
| Non-cash lease expense | $473.0K | $433.0K | $290.0K |
| Non-cash interest expense | $837.0K | $127.0K | $0 |
| Other non-cash items | $1.0K | -$27.0K | $0 |
| Prepaid expenses and other current assets | -$8.9M | $1.6M | -$1.2M |
| Accounts payable | $1.1M | -$4.7M | -$3.7M |
| Accrued external research and development expenses | $4.3M | $5.2M | $169.0K |
| Other accrued expenses | $6.9M | $1.7M | $1.8M |
| Operating lease liabilities | $186.0K | -$495.0K | -$54.0K |
| Net cash used in operating activities | -$180.4M | -$93.9M | -$73.5M |
| Purchases of marketable securities | -$849.6M | -$386.6M | $0 |
| Maturities of marketable securities | $456.2M | $94.8M | $0 |
| Purchases of property and equipment | -$933.0K | -$505.0K | -$89.0K |
| Net cash used in investing activities | -$394.3M | -$292.3M | -$89.0K |
| Proceeds from sale of common stock in underwritten offerings, net of issuance costs paid | $440.3M | $172.5M | $199.1M |
| Proceeds from sale of pre-funded warrants in underwritten offerings, net of issuance costs paid | $14.1M | $0 | $37.6M |
| Proceeds from sale of common stock in at-the-market offerings, net of issuance costs paid | $9.8M | $14.8M | $0 |
| Proceeds from issuance of long-term debt, net of issuance costs paid | $0 | $29.0M | $0 |
| Payment of debt issuance costs | $0 | -$1.4M | $0 |
| Proceeds from stock option exercises | $8.6M | $3.0M | $2.7M |
| Contributions from employee stock purchase plan | $578.0K | $441.0K | $0 |
| Net cash provided by financing activities | $473.4M | $218.3M | $239.4M |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -$101.3M | -$167.9M | $165.8M |
| Cash paid for interest | $2.8M | $198.0K | $0 |
| Cash paid for amounts included in the measurement of operating lease liabilities | $850.0K | $718.0K | $186.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led Disc Medicine, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chair
President
Chief financial officer
Chief operating officer
2025
- Chief executive officerJohn D. Quisel Jan 3, 2023 to now10
- Chief executive officerJason Patrick Meyenburg Feb 10, 2021 to Jan 5, 202211
- ChairGeorges Gemayel Jan 5, 2022 to Jan 5, 202212
- PresidentJason Patrick Meyenburg Feb 10, 2021 to May 18, 202111
- Chief financial officerJean M. Franchi Feb 15, 2024 to now13
- Chief financial officerJoanne Bryce Jan 3, 2023 to Mar 1, 202414
- Chief financial officerGregg Beloff Feb 10, 2021 to Feb 10, 202115
- Chief financial officerBrian Piekos Feb 19, 2021 to Jun 2, 202216
- Chief financial officerDennis D. Ryan Aug 11, 2020 to Aug 11, 202017
- Chief operating officerJonathan Yen-Wen Yu Feb 12, 2025 to now18
Board members and other officers (29)
- Chief Commercial OfficerPamela Stephenson Feb 27, 2024 to now19
- Chief Innovation OfficerBrian Richard Macdonald Jan 3, 2023 to Jun 30, 202320
- Chief Business OfficerJonathan Yen-Wen Yu Jan 3, 2023 to Mar 1, 202421
- Chief Medical OfficerWilliam Jacob Savage Jan 3, 2023 to now22
- Chief Medical OfficerMarc Uknis Feb 10, 2021 to Apr 7, 202123
- Chief People OfficerPrecillia Redmond Feb 10, 2021 to Apr 7, 202124
- Chief Technology OfficerScott Lauder Feb 10, 2021 to Apr 7, 202125
- Chief Scientific OfficerWalter Strapps Mar 3, 2021 to May 3, 202126
- Chief Medical OfficerSamuel B. Barone Apr 14, 2021 to Apr 14, 202127
- OfficerGeorges Gemayel Nov 16, 2021 to Nov 16, 202128
- Board memberNadim Ahmed Jul 16, 2025 to now29
- Board memberJay T. Backstrom Jan 3, 2023 to Jan 3, 202330
- Board memberJohn D. Quisel Jan 3, 2023 to now10
- Board memberKevin Bitterman Jan 3, 2023 to now31
- Board memberLiam Ratcliffe Jan 3, 2023 to now32
- Board memberMark Chin Jan 3, 2023 to now33
- Board memberMona Ashiya Jan 3, 2023 to now34
- Board memberWilliam Richard White Jan 3, 2023 to now35
- Board memberCarl L. Gordon Feb 10, 2021 to Oct 6, 202136
- Board memberDavid Charles Lubner Feb 10, 2021 to Mar 9, 202237
- Board memberJason Patrick Meyenburg Feb 10, 2021 to Jan 5, 202211
- Board memberTuyen Ong Feb 10, 2021 to Mar 9, 202238
- Board memberJason P. Rhodes Feb 11, 2021 to Oct 6, 202139
- Board memberJean George Feb 16, 2021 to Feb 16, 202140
- Board memberGeorges Gemayel May 3, 2021 to now41
- Board memberDaniel Dubin Aug 11, 2020 to Aug 11, 202042
- Board memberDeepika Pakianathan Aug 11, 2020 to Aug 11, 202043
- Board memberVikram Bajaj Aug 11, 2020 to Aug 11, 202044
- General counselRahul Khara Jan 3, 2023 to now45
Former names
Timeline
Filings
630 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 75 major events, 232 insider forms, 65 large holders, 238 other. The latest 20:
- Sep 16, 20264 EDGAR
- Sep 15, 20264 EDGAR
- Sep 11, 2026144 EDGAR
- Sep 10, 20268-K EDGAR
- Sep 9, 20264 EDGAR
- Sep 4, 2026144 EDGAR
- Sep 4, 2026144 EDGAR
- Sep 4, 2026144 EDGAR
- Sep 4, 2026144 EDGAR
- Sep 3, 2026144 EDGAR
- Sep 3, 2026144 EDGAR
- Sep 3, 2026144 EDGAR
- Sep 3, 2026144 EDGAR
- Sep 3, 20264 EDGAR
- Sep 2, 2026144 EDGAR
- Sep 2, 2026144 EDGAR
- Sep 2, 2026144 EDGAR
- Sep 2, 2026144 EDGAR
- Aug 26, 20264 EDGAR
- Aug 18, 20264 EDGAR
The 630 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 65 such filings since October 2021, the latest 10:
- Aug 6, 2026SCHEDULE 13G/A
- Jan 7, 2026SCHEDULE 13G
- Dec 17, 2025SCHEDULE 13D/A
- Nov 5, 2025SCHEDULE 13G/A
- Oct 22, 2025SCHEDULE 13D/A
- Aug 15, 2025SCHEDULE 13D/A
- Aug 14, 2025SCHEDULE 13G/A
- Aug 12, 2025SCHEDULE 13G/A
- Aug 7, 2025SCHEDULE 13G/A
- May 15, 2025SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Fmr LLC | 4,894,473 | $358.0M | 0.0% | −692,421 |
| BlackRock, Inc. | 2,467,899 | $180.5M | 0.0% | +194,068 |
| Ra Capital Management, L.P. | 2,450,221 | $179.2M | 1.6% | No change |
| Jpmorgan Chase & Co | 1,875,795 | $139.9M | 0.0% | +504,315 |
| Wellington Management Group Llp | 1,741,351 | $127.4M | 0.0% | +5,975 |
| State Street Corp | 1,648,836 | $120.6M | 0.0% | −49,408 |
| Vestal Point Capital, LP | 1,550,000 | $113.4M | 2.6% | +850,000 |
| Atlas Venture Life Science Advisors, LLC | 1,513,875 | $110.7M | 12.6% | No change |
| Vanguard Capital Management LLC | 1,369,027 | $100.1M | 0.0% | −6,403 |
| Frazier Life Sciences Management, L.P. | 1,354,852 | $99.1M | 2.2% | No change |
| TCG Crossover Management, LLC | 1,341,862 | $98.1M | 2.4% | No change |
| Bvf Inc/il | 1,153,612 | $84.4M | 2.2% | −118,700 |
| Woodline Partners LP | 958,281 | $70.1M | 0.2% | No change |
| Siren, L.L.C. | 888,401 | $65.0M | 1.3% | −100,000 |
| Logos Global Management LP | 875,000 | $64.0M | 2.8% | +315,000 |
| Opaleye Management Inc. | 855,000 | $62.5M | 5.7% | +434,000 |
| Geode Capital Management, LLC | 789,724 | $57.8M | 0.0% | +45,502 |
| Assenagon Asset Management S.A. | 768,316 | $56.2M | 0.0% | +222,069 |
| Deerfield Management Company, L.P. | 657,000 | $48.1M | 0.6% | No change |
| Dimensional Fund Advisors LP | 569,018 | $41.6M | 0.0% | +174,571 |
| Bellevue Group AG | 560,000 | $41.0M | 0.9% | +100,686 |
| Saturn V Capital Management LP | 524,730 | $38.4M | 5.5% | +74,804 |
| Armistice Capital, LLC | 460,000 | $33.6M | 0.9% | −76,000 |
| Jennison Associates LLC | 439,520 | $32.1M | 0.0% | −170,862 |
| Aberdeen Group plc | 438,174 | $32.0M | 0.0% | +62,560 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARGeorges Gemayel, Chair
- 13
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- 19
- 20
- 21
- 22
- 23SEC EDGARMarc Uknis, Chief Medical Officer
- 24
- 25
- 26
- 27
- 28SEC EDGARGeorges Gemayel, Officer
- 29SEC EDGARNadim Ahmed, Board member
- 30SEC EDGARJay T. Backstrom, Board member
- 31SEC EDGARKevin Bitterman, Board member
- 32SEC EDGARLiam Ratcliffe, Board member
- 33SEC EDGARMark Chin, Board member
- 34SEC EDGARMona Ashiya, Board member
- 35SEC EDGARWilliam Richard White, Board member
- 36SEC EDGARCarl L. Gordon, Board member
- 37SEC EDGARDavid Charles Lubner, Board member
- 38SEC EDGARTuyen Ong, Board member
- 39SEC EDGARJason P. Rhodes, Board member
- 40SEC EDGARJean George, Board member
- 41SEC EDGARGeorges Gemayel, Board member
- 42SEC EDGARDaniel Dubin, Board member
- 43SEC EDGARDeepika Pakianathan, Board member
- 44SEC EDGARVikram Bajaj, Board member
- 45SEC EDGARRahul Khara, General counsel