The company's retained earnings have deteriorated to a deficit of $573.7 million as of 2026Q1, reflecting the heavy impact of accumulated losses on the firm's total equity base.
| Total Current Assets | 747.46M | 803.9M | 493.62M | 365.66M | 198.49M | 90.48M | 5.07M |
| Cash & Short-Term Investments | 730.16M | 791.15M | 489.88M | 360.38M | 194.61M | 88.04M | 4.5M |
| Cash Only | 88.91M | 91.14M | 192.43M | 360.38M | 194.61M | 88.04M | 4.5M |
| Short-Term Investments | 641.25M | 700.01M | 297.45M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 17.3M | 12.75M | 3.73M | 0 | 0 | -802K | 0 |
| Total Non-Current Assets | 2.76M | 2.98M | 3.16M | 2.33M | 1.71M | 1.93M | 3.25M |
| Property, Plant & Equipment | 2.04M | 2.25M | 2.32M | 2.1M | 1.6M | 1.75M | 294K |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 721K | 726K | 838K | 234K | 116K | 180K | 2.96M |
| Total Assets | 750.21M | 806.88M | 496.77M | 368M | 200.21M | 92.41M | 8.32M |
| Asset Turnover | 0.00x | - | - | - | - | - | - |
| Asset Growth % | 125.87% | 62.42% | 34.99% | 83.81% | 116.65% | 1010.84% | - |
| Total Current Liabilities | 31.14M | 36.64M | 23.32M | 21.44M | 22.58M | 13.42M | 24.88M |
| Accounts Payable | 11.76M | 9.02M | 7.95M | 12.63M | 16.16M | 2.56M | 2.38M |
| Days Payables Outstanding | 17.83K | - | - | - | - | - | 2.69K |
| Short-Term Debt | 419K | 611K | 0 | 0 | 0 | 5M | 16.69M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 14.47M | 27.01M | 7.21M | 5.79M | 3.62M | 1.45M | 0 |
| Current Ratio | 24.00x | 21.94x | 21.17x | 17.06x | 8.79x | 6.74x | 0.20x |
| Quick Ratio | 24.00x | 21.94x | 21.17x | 17.06x | 8.79x | 6.74x | 0.20x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 30.64M | 30.41M | 29.87M | 1.44M | 1.03M | 143.19M | 5.3M |
| Long-Term Debt | 29.36M | 1.25M | 28.32M | 0 | 0 | 404K | 4.95M |
| Capital Lease Obligations | 4.2M | 0 | 1.55M | 1.44M | 1.03M | 1.33M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 29.16M | 0 | 0 | 0 | 141.45M | 353K |
| Total Liabilities | 61.78M | 67.05M | 53.19M | 22.88M | 23.61M | 156.61M | 30.18M |
| Total Debt | 31.06M | 1.86M | 30M | 2.1M | 1.33M | 7.06M | 21.64M |
| Net Debt | -57.85M | -89.28M | -162.43M | -358.28M | -193.28M | -80.98M | 17.14M |
| Debt / Equity | 0.05x | 0.00x | 0.07x | 0.01x | 0.01x | - | - |
| Debt / EBITDA | -0.12x | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.22x | - | - | - | - | - | - |
| Interest Coverage | -90.28x | -57.73x | -189.56x | - | - | -14.33x | -4.98x |
| Total Equity | 688.43M | 739.83M | 443.59M | 345.12M | 176.6M | -64.2M | -21.86M |
| Equity Growth % | 119.2% | 66.78% | 28.53% | 95.43% | 375.06% | -193.69% | - |
| Book Value per Share | 17.89 | 20.96 | 16.07 | 15.47 | 169.89 | -80.11 | -14.46 |
| Total Shareholders' Equity | 688.43M | 739.83M | 443.59M | 345.12M | 176.6M | -64.2M | -21.86M |
| Common Stock | 4K | 4K | 3K | 2K | 2K | 0 | 2K |
| Retained Earnings | -573.69M | -510.19M | -298M | -188.65M | -112.22M | -65.39M | -112.82M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -571K | 965K | 289K | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical trial endpoint failure
As reported in quarterly financial statements, the company's cash position has declined from $360.4 million in 2023Q4 to $88.9 million by 2026Q1, signaling a rapid depletion of capital reserves as the firm intensifies its R&D efforts to navigate complex regulatory hurdles for its lead pipeline assets.
The trajectory of the balance sheet reflects a firm in a high-burn phase, where the consistent decline in cash reserves is not being offset by revenue-generating activities. This trend suggests that the company is increasingly reliant on external financing to sustain its clinical development programs, which may lead to further shareholder dilution.
Based on the provided balance sheet data, the company's cash reserves have fallen significantly, and while the current ratio remains high at 24.00, this metric is heavily skewed by the lack of meaningful current liabilities rather than an abundance of liquid assets relative to operational burn.
Investors should monitor the narrowing cash runway, as the current liquidity position may be insufficient to support the extended clinical trials required following the AURORA trial results. The high current ratio is a byproduct of the company's clinical-stage status and should not be interpreted as a sign of operational financial strength.
According to historical financial filings, the company's retained earnings have deteriorated to a deficit of $573.7 million as of 2026Q1, highlighting the persistent and growing impact of accumulated losses on the firm's total equity base during this intensive research and development phase.
The erosion of equity through consistent net losses suggests that the company's value proposition is entirely dependent on future clinical success rather than current asset accumulation. The reliance on equity financing to bridge this deficit warrants further investigation into the potential for future share count expansion.
As indicated by the discrepancy between the $91 million cash figure in the provided snapshot and subsequent capital market activity, the reported balance sheet may significantly understate the company's actual financing needs and the dilutive impact of recent follow-on offerings on existing shareholder value.
The reliance on non-cash stock-based compensation to manage operational costs effectively masks the true economic burn rate of the business. Analysts should be cautious, as the headline cash figures may not accurately reflect the company's true liquidity position or its ongoing requirement for external capital infusions.
Quick answers to the most common questions about buying IRON stock.
As of 2025, Disc Medicine, Inc. (IRON) had total assets of $806.9M including $803.9M in current assets.
Disc Medicine, Inc. (IRON) carries total debt of $1.9M, offset by $791.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Disc Medicine, Inc. (IRON) has total shareholders' equity (book value) of $739.8M ($20.96 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Disc Medicine, Inc. (IRON) reported a current ratio of 21.94x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.