| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net loss | -63,504 | -60,531 | -62,321 | -89,332 |
| Loss from initial consolidation of variable interest entity | - | 0 | 0 | -852 |
| Depreciation and amortization | 89 | 89 | 87 | 105 |
| Stock-based compensation | 11,946 | 10,043 | 9,514 | 14,783 |
| Amortization/accretion of investment securities | 1,069 | 1,632 | 1,739 | 5,148 |
| Non-cash lease expense | 129 | 124 | 120 | 229 |
| Non-cash interest expense | 206 | 211 | 211 | 415 |
| Other non-cash items | 12 | -1 | 0 | 0 |
| Prepaid expenses and other current assets | 4,546 | 1,382 | -371 | 7,911 |
| Accounts payable | 2,741 | 1,750 | 918 | -1,598 |
| Accrued external research and development expenses | 686 | 3,746 | 242 | 322 |
| Other accrued expenses | -8,734 | 4,446 | 4,954 | -2,518 |
| Operating lease liabilities | -168 | -165 | -156 | 507 |
| Net cash used in operating activities | -62,236 | -43,300 | -47,799 | -89,294 |
| Purchases of marketable securities | 93,762 | 358,273 | 85,436 | 405,876 |
| Maturities of marketable securities | 152,069 | 135,400 | 135,000 | 185,819 |
| Purchases of property and equipment | 0 | 20 | 26 | 887 |
| Net cash provided by (used in) investing activities | 58,307 | -222,893 | 49,538 | -220,944 |
| Proceeds from sale of common stock in underwritten offering, net of issuance costs paid | 0 | 206,343 | 0 | 234,003 |
| Proceeds from sale of pre-funded warrants in underwritten offering, net of issuance costs paid | 0 | 4,690 | 0 | 9,386 |
| Proceeds from sale of common stock in at-the-market offerings, net of issuance costs paid | - | 0 | 9,766 | 0 |
| Proceeds from issuance of long-term debt, net of issuance costs paid | - | 0 | - | - |
| Payment of debt issuance costs | - | 0 | - | - |
| Proceeds from stock option exercises | 1,010 | 5,643 | 1,531 | 1,467 |
| Contributions from employee stock purchase plan | 687 | 0 | 291 | 287 |
| Net cash provided by financing activities | 1,697 | 216,676 | 11,588 | 245,143 |
| Net decrease in cash, cash equivalents and restricted cash | -2,232 | -49,517 | 13,327 | -65,095 |
| Cash, cash equivalents and restricted cash, beginning of period | 91,387 | 140,904 | 192,672 | - |
| Cash, cash equivalents and restricted cash, end of period | 89,155 | 91,387 | 140,904 | - |
Disc Medicine, Inc. (IRON)
Disc Medicine, Inc. (IRON)