Disc Medicine, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Selling, general & administrative | $65.4M | $33.0M | $21.9M | — | — |
| Research and development | $170.6M | $96.7M | $69.3M | $33.4M | $25.2M |
| Operating expenses | $236.0M | $129.7M | $91.1M | $47.5M | $30.9M |
| Operating income | -$236.0M | -$129.7M | -$91.1M | -$47.5M | -$30.9M |
| Interest expense | $3.6M | $572,000 | $0 | — | $2.2M |
| Pretax income | -$211.8M | -$109.0M | -$76.3M | -$46.8M | — |
| Income tax expense | $361,000 | $355,000 | $99,000 | $0 | — |
| Net income | -$212.2M | -$109.4M | -$76.4M | -$46.8M | -$36.0M |
| Balance Sheet | |||||
| Cash and equivalents | $91.1M | $192.4M | $360.4M | $194.6M | $88.0M |
| Current assets | $803.9M | $493.6M | $365.7M | $198.5M | $90.5M |
| Total assets | $806.9M | $496.8M | $368.0M | $200.2M | $92.4M |
| Current liabilities | $36.6M | $23.3M | $21.4M | $22.6M | $13.4M |
| Total liabilities | $67.1M | $53.2M | $22.9M | $23.6M | $14.8M |
| Stockholders' equity | $739.8M | $443.6M | $345.1M | $176.6M | -$64.2M |
| Cash Flow Statement | |||||
| Cash from operations | -$180.4M | -$93.9M | -$73.5M | -$42.3M | -$27.5M |
| Depreciation and amortization | $281,000 | $156,000 | $100,000 | $89,000 | $32,000 |
| Stock-based compensation | $34.3M | $16.8M | $5.5M | $2.1M | $507,000 |
| Capital expenditure | $933,000 | $505,000 | $89,000 | $151,000 | $68,000 |
| Free cash flow | -$181.3M | -$94.4M | -$73.6M | -$42.4M | -$27.6M |
| Dividends paid | — | — | — | — | $0 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 38.2M · Free float 42.8%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.