Business
Disc Medicine Reports Second Quarter 2023 Financial Results and Provides Business Update
Presented positive initial safety and efficacy data from the BEACON trial at the European Hematology Association (EHA) Congress in June 2023; data from all
About this update from Disc Medicine, Inc.
[{"type":"text","content":"Presented positive initial safety and efficacy data from the BEACON trial at the European Hematology Association (EHA) Congress in June 2023; data from all patients in BEACON to be presented year-end 2023Initiated a phase 1/2 study of bitopertin in patients with Diamond-Blackfan Anemia who have failed corticosteroid treatmentEnrolling patients in two separate Phase 1b/2 studies for DISC-0974, one in patients with anemia of chronic kidney disease who are not receiving dialysis (NDD-CKD) and one in patients with myelofibrosis and anemia; initial data from both trials expected by year-end 2023Strengthened financial position through a $158 million upsized public offering; ended Q2 with approximately $378 million in cash that is expected to fund operations well into 2026 WATERTOWN, Mass., Aug. 11, 2023 (GLOBE NEWSWIRE) -- Disc Medicine, Inc. (NASDAQ:IRON), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases, today reported financial results for the second quarter ending June 30, 2023, and provided an update on recent program and corporate developments. “This was a landmark quarter for our company, as we presented positive initial data from the BEACON study at EHA, which showed the promise of bitopertin as a potential treatment for EPP. The BEACON data catalyzed the successful completion of an upsized public offering, which provides runway well beyond key read-outs across our portfolio and positions us to advance bitopertin into late-stage development,” said John Quisel, J.D., Ph.D., President and Chief Executive Officer of Disc. “We continue to make excellent progress across our portfolio and look forward to providing updated results from BEACON and our other studies at the end of the year.” Recent Business Highlights and Upcoming Milestones: Bitopertin: GlyT1 Inhibitor (Heme Synthesis Modulator) Bitopertin is an investigational, clinical-stage, orally-administered inhibitor of glycine transporter 1 (GlyT1) that is designed to modulate heme biosynthesis. GlyT1 is a membrane transporter expressed on developing red blood cells and is required to supply sufficient glycine for heme biosynthesis and support erythropoiesis. Disc is planning to develop bitopertin as a potential treatment for a range of hematologic...