Incremental Phase II MF Update @ ASCO, EHA Reinforce Consistent, Broad Benefit

Research evidence excerpt

Incremental Phase II MF Update @ ASCO, EHA Reinforce Consistent, Broad Benefit

Biotechnology

Disc Medicine

TD SECURITIES (USA) LLC QUICK TAKE: COMPANY UPDATE

May 12, 2026

Price: $69.23 (05/11/2026) Incremental Phase II MF Update @ ASCO, EHA

Price Target: NA Reinforce Consistent, Broad Benefit

BUY (1)

ESG SCORE: 59/100

Tara Bancroft, Ph.D. THE TD COWEN INSIGHT

646 562 1410

Ahead of ASCO abstracts on 5/21, EHA abstracts were released, where updated Phase II

tara.bancroft@tdsecurities.com

RALLY-MF data showed consistent, clinically meaningful anemia responses across transfusion

Greg W. Torres, Ph.D. strata (70% ORR) and irrespective of JAKi use. 0974 has the potential to be a best-in-class,

646 562 1351 plug-and-play partner across the entire JAK landscape. More coming at ASCO, EHA, and a

gregory.wiessner@tdsecurities.com

6/15 webcast (register here).

Nicholas Lorusso

646 562 1390 DISC-0974 Delivers Durable Clinical Benefit In Expanded RALLY-MF Data To Be Presented At

nick.lorusso@tdsecurities.com ASCO And EHA

Sam Rollenhagen At ASCO and EHA 2026, Disc will present an updated readout from the Phase II RALLY-MF

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study of DISC-0974 in MF patients with anemia, expanding the dataset to n=61 treated patients

samuel.rollenhagen@tdsecurities.com

with follow-up and n=43 evaluable patients through an April 27, 2026 cutoff. Per the abstract,

Ikenna Okafor, Ph.D. DISC-0974 continues to show clinically meaningful anemia activity across transfusion-

646 562 1395 dependent strata, with major responses observed in 54% (n=15/28) of non-transfusion-

ikenna.okafor@tdsecurities.com dependent (nTD) patients, 67% (n=6/9) of lightly transfused (TD Low) patients, and 50% (n=3/6)

Key Data of heavily transfused (TD High) patients, driving a 70% overall response rate (major + minor).