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Fulcrum Therapeutics, Inc.

Fulcrum Therapeutics, Inc.

NASDAQ•FULC
CEO: Mr. Alexander C. Sapir
Sector: Healthcare
Industry: Biotechnology
Listing Date: 2019-07-18
Fulcrum Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy is under phase III clinical trial; and pociredir, a fetal hemoglobin inducer for the treatment of sickle cell disease and beta-thalassemia is under phase I clinical trial. The company is also discovering drug targets for the treatments of rare neuromuscular, muscular, central nervous system, and hematologic disorders, as well as cardiomyopathies and pulmonary diseases. It has collaboration and license agreement with Acceleron Pharma Inc. to identify biological targets to modulate specific pathways associated with a targeted indication within the pulmonary disease space; MyoKardia, Inc. to discover and develop therapies for the treatment of genetic cardiomyopathies; and Sanofi for the development and commercialization of losmapimod, an oral small molecule being investigated for the treatment of facioscapulohumeral muscular dystrophy. Fulcrum Therapeutics, Inc. was Incorporated in 2015 and is headquartered in Cambridge, Massachusetts.
Contact Information
26 Landsdowne Street, Cambridge, MA, 02139, United States
617-651-8851
www.fulcrumtx.com
Market Cap
$548.69M
P/E (TTM)
-8.9
38.2
Dividend Yield
--
52W High
$15.74
52W Low
$2.32
52W Range
58%
Rank57Top 83.3%
2.4
F-Score
Modified Piotroski Analysis
Based on 8-year fundamentals
Weak • 2.4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2018-2025

Financial Dashboard

Q3 2025 Data

Revenue

$0.00+0.00%
4-Quarter Trend

EPS

-$0.31-11.43%
4-Quarter Trend

FCF

-$14.28M-25.20%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Net Loss Widens Net loss reached $54.5M for nine months 2025, down from $6.8M income in 2024, due to $80.0M collaboration revenue loss.
Strong Cash Runway Maintained Cash and marketable securities totaled $200.6M as of September 30, 2025, funding operations expected into 2028.
Pociredir Clinical Data Positive Phase 1b pociredir trial showed 8.6% mean absolute fetal hemoglobin increase at 12 weeks; safety profile well-tolerated.
R&D Spending Decreases Total R&D expenses fell $11.0M for nine months 2025 to $40.7M, driven by losmapimod program suspension.

Risk Factors

Substantial Future Funding Required Accumulated deficit is $573.9M; inability to raise capital may force delay, reduction, or termination of development programs.
Early Stage Pipeline Concentration Only one active clinical candidate, pociredir; failure to commercialize will materially harm the entire business operations.
Intellectual Property Protection Uncertain Success depends on maintaining patent protection; challenges or litigation could impair ability to commercialize technology.
Collaboration Revenue Terminated Collaboration revenue decreased $80.0M due to the now terminated Sanofi agreement, impacting near-term financial stability.

Outlook

Pociredir Data Expected 2025 Expect clinical data from the 20 mg dose cohort of pociredir by the end of 2025; initiating open label extension trial.
Advance Bone Marrow Pipeline Plan to submit IND for bone marrow failure syndrome candidates in Q4 2025, advancing discovery programs.
R&D Expenses Expected Increase Expect R&D expenses to increase as pociredir advances into later stages of clinical development requiring higher costs.
Maintain Capital Resources Current cash supports operations into 2028, but substantial additional financing needed to fund growth strategy execution.

Peer Comparison

Revenue (TTM)

Cellectis S.A.CLLS
$75.27M
+158.9%
ADC Therapeutics SAADCT
$75.21M
+6.4%
Alumis Inc.ALMS
$25.16M
+0.0%

Gross Margin (Latest Quarter)

Alumis Inc.ALMS
100.0%
+0.0pp
Ocugen, Inc.OCGN
100.0%
+0.0pp
Cellectis S.A.CLLS
93.3%
+10.5pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ALMS$2.49B-10.1-75.5%7.7%
FULC$548.69M-8.9-32.2%3.3%
OCGN$527.82M-8.0-491.2%57.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
N/M
Revenue Volatile
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 24, 2026
|
EPS:-$0.32
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 29, 2025|
    Revenue: $0.00+0.0%
    |
    EPS: $-0.31-11.4%
    N/A
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 29, 2025|
    Revenue: $0.00-100.0%
    |
    EPS: $-0.28-131.5%
    N/A
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 1, 2025|
    Revenue: $0.00+0.0%
    |
    EPS: $-0.28-34.9%
    N/A
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 25, 2025|
    Revenue: $80.00M+2752.0%
    |
    EPS: $-0.16+89.9%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 13, 2024|
    Revenue: $0.00-100.0%
    |
    EPS: $-0.35-10.3%
    N/A
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 31, 2024|
    Revenue: $80.00M+8990.9%
    |
    EPS: $0.89-334.2%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 13, 2024|
    Revenue: $0.00-100.0%
    |
    EPS: $-0.43+19.4%
    N/A
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 27, 2024|
    Revenue: $2.81M-55.8%
    |
    EPS: $-1.59+32.3%
    Miss