WATERTOWN, Mass. - Disc Medicine, Inc. (NASDAQ:IRON), a biopharmaceutical company, announced new findings from its Phase 1b study of DISC-0974 in patients with non-dialysis-dependent chronic kidney disease (NDD-CKD) and anemia. The study presented at the American Society of Nephrology Kidney Week revealed that a single dose of DISC-0974 significantly reduces hepcidin levels and improves iron mobilization and hemoglobin levels in patients.
The ongoing study includes participants with Stage 2-5 NDD-CKD who received a single dose of either a placebo or DISC-0974 at varying doses. Interim results showed a substantial reduction in hepcidin and increases in transferrin saturation, reticulocyte hemoglobin, and mean hemoglobin levels, with the most significant changes observed at the highest doses tested.
John Quisel, JD (NASDAQ:JD), PhD, President and CEO of Disc Medicine, stated the updated results are the first clinical evidence in CKD anemia that reducing hepcidin through hemojuvelin can lead to increased erythropoiesis and hemoglobin. He emphasized the broader potential for DISC-0974 to treat anemia associated with various inflammatory and chronic diseases.
Safety and tolerability of DISC-0974 were acceptable at all evaluated dose levels, with most adverse events being unrelated to the treatment and all treatment-related adverse events being Grade 1 or 2.
Anemia is a frequent complication of CKD, affecting millions of patients in the U.S. and is often untreated due to the complexity and potential safety concerns of current treatments. Elevated hepcidin levels in CKD patients inhibit erythropoiesis, leading to anemia.
Disc Medicine is focused on developing treatments for hematologic diseases by targeting red blood cell biology. DISC-0974 is currently not approved for therapeutic use. The company is exploring dose regimens in the multiple-dose portion of the Phase 1b study.
This article is based on a press release statement from Disc Medicine and does not endorse the company or its products.
In other recent news, Disc Medicine has made several significant strides in its operations. The company reported encouraging Phase 2 results for its lead drug candidate, bitopertin, aimed at treating Erythropoietic Protoporphyria (EPP). Disc Medicine is also developing treatments for anemia in Myelofibrosis (MF) and Chronic Kidney Disease (CKD), with Phase 1/2 data expected in the coming years.
Disc Medicine has also made key appointments, welcoming Dr. Rahul Rajan Kaushik as Chief Technical Officer and Dr. Steve Caffé as Chief Regulatory Officer, both bringing over two decades of experience in the pharmaceutical industry.
On the analyst front, Disc Medicine received a Buy rating from Jefferies and an Overweight rating from Wells Fargo. BMO Capital Markets revised its outlook, raising the price target to $70 from $50.
Furthermore, Disc Medicine announced a public stock offering of approximately $178 million, led by Frazier Life Sciences and Logos Capital. The proceeds will be used to advance research and clinical development of its product candidates, including bitopertin. These are recent developments in the operations of Disc Medicine as it continues to develop treatments for serious hematologic diseases.
InvestingPro Insights
Disc Medicine's (NASDAQ:IRON) recent clinical findings for DISC-0974 in treating anemia in chronic kidney disease patients have sparked interest in the company's potential. According to InvestingPro data, Disc Medicine has a market capitalization of $1.41 billion, reflecting investor confidence in its pipeline.
Despite the promising clinical results, it's important to note that Disc Medicine is not currently profitable. An InvestingPro Tip indicates that the company was not profitable over the last twelve months, with an adjusted operating income of -$110.99 million. This is not unusual for biopharmaceutical companies in the development stage, as they often incur significant research and development expenses before generating revenue from approved products.
However, Disc Medicine's financial position appears stable in the short term. Another InvestingPro Tip reveals that the company holds more cash than debt on its balance sheet, which is crucial for funding ongoing clinical trials and operations. This financial cushion may provide the runway needed to advance DISC-0974 and other pipeline candidates.
Investors should be aware that the stock has experienced significant volatility recently. The company's shares have seen a 73.45% price increase over the past six months, indicating growing market optimism. However, there's been a 9.02% decline in the past week, possibly reflecting short-term market reactions or profit-taking.
For those interested in a deeper analysis, InvestingPro offers 11 additional tips for Disc Medicine, providing a more comprehensive view of the company's financial health and market position.
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