Disc Medicine, Inc. Files 2023 Annual Report on Form 10-K

Ticker: IRON · Form: 10-K · Filed: Mar 21, 2024 · CIK: 1816736

Disc Medicine, Inc. 10-K Filing Summary
FieldDetail
CompanyDisc Medicine, Inc. (IRON)
Form Type10-K
Filed DateMar 21, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.0001
Sentimentneutral

Sentiment: neutral

Topics: Disc Medicine, 10-K, Annual Report, Pharmaceuticals, Financials

TL;DR

<b>Disc Medicine, Inc. (IRON) has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

Disc Medicine, Inc. (IRON) filed a Annual Report (10-K) with the SEC on March 21, 2024. Disc Medicine, Inc. (formerly Gemini Therapeutics, Inc.) filed its 2023 Form 10-K on March 21, 2024. The company was incorporated in Delaware and operates in the Pharmaceutical Preparations industry. Key former names include Gemini Therapeutics, Inc. and FS Development Corp. The company's business address is 321 Arsenal Street, Suite 101, Watertown, MA 02472. The filing covers the fiscal year ending December 31, 2023.

Why It Matters

For investors and stakeholders tracking Disc Medicine, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Disc Medicine's financial performance, business operations, and risk factors for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential for future growth in the pharmaceutical sector.

Risk Assessment

Risk Level: medium — Disc Medicine, Inc. shows moderate risk based on this filing. The company operates in the highly regulated pharmaceutical industry, facing risks related to drug development, clinical trials, regulatory approvals, and market competition, as detailed in its risk factors section.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Disc Medicine's current financial position and strategic outlook.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Conformed period of report)
  • 2024-03-21 — Filing Date (Filed as of date)
  • 0000950170-24-034432 — Accession Number (Unique identifier for the filing)
  • 001-39438 — SEC File Number (SEC registration number)

Key Players & Entities

  • Disc Medicine, Inc. (company) — Filer name
  • Gemini Therapeutics, Inc. (company) — Former company name
  • FS Development Corp. (company) — Former company name
  • 321 Arsenal Street, Suite 101, Watertown, MA 02472 (company) — Business address
  • 2834 (company) — Standard Industrial Classification (SIC) code for Pharmaceutical Preparations
  • 2023-12-31 (date) — Fiscal year end
  • 2024-03-21 (date) — Filing date
  • Roche (company) — Mentioned in relation to license agreements

FAQ

When did Disc Medicine, Inc. file this 10-K?

Disc Medicine, Inc. filed this Annual Report (10-K) with the SEC on March 21, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Disc Medicine, Inc. (IRON).

Where can I read the original 10-K filing from Disc Medicine, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Disc Medicine, Inc..

What are the key takeaways from Disc Medicine, Inc.'s 10-K?

Disc Medicine, Inc. filed this 10-K on March 21, 2024. Key takeaways: Disc Medicine, Inc. (formerly Gemini Therapeutics, Inc.) filed its 2023 Form 10-K on March 21, 2024.. The company was incorporated in Delaware and operates in the Pharmaceutical Preparations industry.. Key former names include Gemini Therapeutics, Inc. and FS Development Corp..

Is Disc Medicine, Inc. a risky investment based on this filing?

Based on this 10-K, Disc Medicine, Inc. presents a moderate-risk profile. The company operates in the highly regulated pharmaceutical industry, facing risks related to drug development, clinical trials, regulatory approvals, and market competition, as detailed in its risk factors section.

What should investors do after reading Disc Medicine, Inc.'s 10-K?

Review the detailed financial statements and risk factors in the 10-K to understand Disc Medicine's current financial position and strategic outlook. The overall sentiment from this filing is neutral.

Risk Factors

  • Regulatory Risks [high — regulatory]: The company is subject to extensive government regulation, including the FDA, which can impact product development, manufacturing, and marketing.
  • Market Competition [high — market]: Disc Medicine faces intense competition from other pharmaceutical and biotechnology companies, which could affect its ability to gain market share.
  • Need for Additional Funding [medium — financial]: The company's operations require significant capital, and it may need to raise additional funds through equity or debt financing, which could dilute shareholder value.
  • Reliance on Key Personnel [medium — operational]: The success of the company depends on its ability to attract and retain skilled scientific and management personnel.
  • Intellectual Property Risks [medium — legal]: Protection of intellectual property is crucial, and the company may face challenges related to patentability, infringement, and enforcement.

Key Dates

  • 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.

Filing Stats: 4,465 words · 18 min read · ~15 pages · Grade level 16.7 · Accepted 2024-03-21 08:15:40

Key Financial Figures

  • $0.0001 — e on which registered Common Stock, $0.0001 Par Value IRON The Nasdaq Global Ma

Filing Documents

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 44 Item 1B. Unresolved Staff Comments 94 Item 1C. Cybersecurity 94 Item 2.

Properties

Properties 94 Item 3.

Legal Proceedings

Legal Proceedings 95 Item 4. Mine Safety Disclosures 95 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 96 Item 6. Reserved 96 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 97 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 106 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 107 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 133 Item 9A.

Controls and Procedures

Controls and Procedures 133 Item 9B. Other Information 134 Item 9C. Disclosures Regarding Foreign Jurisdictions That Prevent Inspections 134 PART III Item 10. Directors, Executive Officers and Corporate Governance 135 Item 11.

Executive Compensation

Executive Compensation 144 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 149 Item 13. Certain Relationships and Related Transactions, and Director Independence 152 Item 14. Principal Accounting Fees and Services 153 PART IV Item 15. Exhibits, Financial Statement Schedules 155 Item 16. Form 10-K Summary 158

Signatures

Signatures 159 i

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K of Disc Medicine, Inc., or the Company, contains or incorporates statements that constitute forward-looking statements within the meaning of the federal securities laws. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "will," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this Annual Report on Form 10-K may include, for example, statements about: the initiation, timing, progress, results, and cost of our research and development programs and our current and future preclinical studies and clinical trials, including statements regarding the timing of initiation and completion of studies or trials and related preparatory work, the period during which the results of the trials will become available, and our research and development programs; our ability to efficiently discover and develop product candidates; our ability and the potential to successfully manufacture our drug substances and product candidates for preclinical use, for clinical trials and on a larger scale for commercial use, if approved; our ability to obtain funding for our operations necessary to complete further development and commercialization of our product candidates; our ability to obtain and maintain regulatory approval of our product candidates; our ability to commercial

BU SINESS

ITEM 1. BU SINESS Overview We are a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. We have assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, specifically heme biosynthesis and iron homeostasis. Our current pipeline includes bitopertin for the treatment of erythropoietic porphyrias, or EPs, including erythropoietic protoporphyria, or EPP, and X-linked protoporphyria, or XLP, and Diamond-Blackfan Anemia, or DBA; DISC-0974 for the treatment of anemia of myelofibrosis, or MF, and anemia of chronic kidney disease, or CKD; and DISC-3405 (formerly MWTX-003) for the treatment of polycythemia vera, or PV, and other hematologic disorders. In addition, our preclinical programs also include DISC-0998, for the treatment of anemia associated with inflammatory diseases. Our approach to product candidate development leverages well-understood molecular mechanisms that have been validated in humans. We believe that each of our product candidates, if approved, has the potential to improve the lives of patients suffering from hematologic diseases. Bitopertin is the lead product candidate in our heme biosynthesis modulation portfolio. Bitopertin was previously evaluated by F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc., or collectively, Roche, in a comprehensive clinical program in over 4,000 individuals in other indications which demonstrated the activity of bitopertin as a glycine transporter 1, or GlyT1, inhibitor and its effect on heme biosynthesis. We are initially developing bitopertin for the treatment of EPs, including EPP and XLP. In July 2022, we initiated BEACON, a Phase 2 open-label, parallel-dose clinical trial of bitopertin in EPP and XLP patients that is being conducted at sites in Australia. In Octo

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