2025 ASH Management Call FINAL

December 7, 2025

1Confidential

01

Introduction and Summary

John Quisel, JD, PhD, Chief Executive Officer

02

Bitopertin Updates

John Quisel, JD, PhD, Chief Executive Officer

DISC-0974

03

• Updated Data in Anemia of MF

  Will Savage, MD, PhD, Chief Medical Officer

• MF Anemia Market Opportunity

  Jonathan Yu, Chief Operating Officer

  04

  DISC-3405 Updates

  Jonathan Yu, Chief Operating Officer

  Will Savage, MD, PhD, Chief Medical Officer

  05

  Closing Remarks

  John Quisel, JD, PhD, Chief Executive Officer

  
  
  Summary of Updates

  Bitopertin

  Heme Synthesis Modulator

  • NDA accepted on

    November 28

  • Expecting to launch by end of January 2026, if approved

  • Commercialization planning is well underway

  DISC-0974

  Hepcidin Suppression

  • Consistent and substantial ↓ hepcidin

    and ↑ iron

  • Positive, durable benefits on hemoglobin and transfusion burden in anemia of MF across a broad range of MF patients

  • Similar response rates regardless of

    underlying MF-directed therapy

  • Clinically meaningful improvements in fatigue

  DISC-3405

  Hepcidin Induction

  • Phase 2 study ongoing in

    polycythemia vera

    - Rapid enrollment has led to study expansion

  • Phase 1b study initiated

    in sickle cell disease

  • Initial data from both studies expected by the end of 2026

  
  
  
  
  
  Agenda

  01

  Introduction and Summary

  John Quisel, JD, PhD, Chief Executive Officer

  02

  Bitopertin Updates

  John Quisel, JD, PhD, Chief Executive Officer

  DISC-0974

  03

• Updated Data in Anemia of MF

  Will Savage, MD, PhD, Chief Medical Officer

• MF Anemia Market Opportunity

Jonathan Yu, Chief Operating Officer

04

DISC-3405 Updates

Jonathan Yu, Chief Operating Officer

Will Savage, MD, PhD, Chief Medical Officer

05

Closing Remarks

John Quisel, JD, PhD, Chief Executive Officer

Expected review period of 1-2 months under CNPV program

Bitopertin selected for the FDA's Commissioner's

National Priority Voucher (CNPV) Pilot Program

NDA Submitted

September 29

Key Program Benefits

• Faster review times (expected 1-2 months)

• Enhanced communication throughout the process

• Multidisciplinary team-based evaluation

• Potential for accelerated approval

• Maintains FDA's rigorous safety and efficacy standards

  NDA Accepted

  November 28

  Anticipated Action Date

  By end of Jan. '26

  Anticipated Drug Supply Availability

  Disc is committed to ensuring access to bitopertin for patients as quickly as possible and is advancing commercial readiness activities to support potential launch of bitopertin on accelerated timeline, if approved

  By end of Jan. '26

  
  
  Bitopertin Next Steps
  
  
  

  Collaborate with FDA throughout their ongoing review

  Continue accelerated activities to support a potential US approval

  and launch by end of January 2026

  Drive enrollment of ongoing APOLLO confirmatory trial in US, UK, Canada, Australia and Europe

  
  
  

  Further details on commercialization and launch planning to be shared at the JP Morgan Healthcare Conference in January 2026

  
  
  Agenda

  01

  Introduction and Summary

  John Quisel, JD, PhD, Chief Executive Officer

  02

  Bitopertin Updates

  John Quisel, JD, PhD, Chief Executive Officer

  DISC-0974

  03

  • Updated Data in Anemia of MF

    Will Savage, MD, PhD, Chief Medical Officer

  • MF Anemia Market Opportunity

Jonathan Yu, Chief Operating Officer

04

DISC-3405 Updates

Jonathan Yu, Chief Operating Officer

Will Savage, MD, PhD, Chief Medical Officer

05

Closing Remarks

06

Q&A Session

John Quisel, JD, PhD, Chief Executive Officer

DISC-0974: Novel Anti-HJV mAb to Suppress Hepcidin Designed to enhance iron availability to address a wide range of hematologic disorders

Reduces Hepcidin

Increases Iron

Enables

RBC

Production

Inhibits endogenous

production of hepcidin

Releases iron stores

Enables GI absorption

Potential to treat

wide range of anemias