Fulcrum Therapeutics, Inc.

Listed Company

FULCCIK 0001680581NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-74.88M

Total Assets

$366.28M

Equity

$349.00M

Shares Out

66.63M

Op. Cash Flow

$-60.06M

FULC$3.66−53.99% · past yearDBEQ Basic

Daily closing prices

Business

Fulcrum Therapeutics is a clinical-stage biopharmaceutical company developing small-molecule drugs for genetically defined rare diseases. The company's lead candidate, pociredir, is an oral EED inhibitor designed to induce fetal hemoglobin for sickle cell disease treatment, currently in Phase 1b clinical trials. Fulcrum also pursues additional hematology programs and preclinical oncology candidates through its discovery platform. The company retains commercial rights to its pipeline and engages with FDA and EMA for regulatory guidance.

Summary from 10-K filed 2026-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Collaboration revenue	0	80	3	6	19
Research and development	56	63	72	77	70
General and administrative	29	36	42	42	31
Restructuring expenses	0	2	0	427,000	—
Total operating expenses	85	102	113	119	100
Loss from operations	−85	−22	−111	−113	−81
Other income, net	10	12	13	3	207,000
Net loss	−75	−10	−97	−110	−81
Net loss per share, Basic	−1.18	−0.16	−1.59	−2.44	−2.29
Net loss per share, diluted	−1.18	−0.16	−1.59	−2.44	−2.29
Weighted-average common shares outstanding, Diluted	63,355	61,984	61,310	44,991	35,361
Weighted-average common shares outstanding, Basic	63,355	61,984	61,310	44,991	35,361
Unrealized gain on marketable securities	44,000	266,000	661,000	−400,000	−395,000
Total other comprehensive gain	44,000	266,000	661,000	−400,000	−395,000
Comprehensive loss	−75	−9	−97	−110	−81

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	198	58	26	35	35
Marketable securities	155	183	211	168	183
Unbilled accounts receivable	0	2	537,000	229,000	1
Prepaid expenses and other current assets	5	7	5	4	4
Total current assets	357	250	242	208	226
Property and equipment, net	3	4	5	7	7
Operating lease right-of-use assets	4	6	7	9	0
Restricted cash	1	1	1	1	1
Other assets	538,000	10,000	2	2	542,000
Total assets	366	261	258	227	235
Accounts payable	2	1	3	4	5
Accrued expenses and other current liabilities	9	8	9	10	9
Operating lease liability, current	2	2	2	3	0
Total current liabilities	13	11	14	17	19
Operating lease liability, excluding current portion	4	6	9	11	0
Other liabilities, excluding current portion	197,000	197,000	197,000	197,000	0
Total liabilities	17	18	23	28	23
Commitments and contingencies (Note 12)	—	—	—	—	—
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding	0	0	0	0	—
Common stock, $0.001 par value; 200,000,000 shares authorized; 66,578,891 and 53,968,303 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	67,000	54,000	62,000	52,000	41,000
Additional paid-in capital	943	762	745	612	514
Accumulated other comprehensive gain	174,000	130,000	−136,000	−797,000	−397,000
Accumulated deficit	−594	−519	−510	−412	−302
Total stockholders equity	349	243	235	199	212
Total liabilities and stockholders equity	366	261	258	227	235

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−75	−10	−97	−110	−81
Depreciation expense	1	2	2	2	3
Stock-based compensation expense	12	15	15	13	11
Net accretion of discounts on marketable securities	−3	−4	−6	152,000	673,000
Unbilled accounts receivable	2	−2	−308,000	908,000	−606,000
Prepaid expenses and other current assets	2	−1	−1	−170,000	−134,000
Operating lease assets and liabilities	−743,000	−700,000	−715,000	−372,000	−438,000
Other assets	−528,000	2	94,000	−2	36,000
Accounts payable	428,000	−2	−853,000	−1	973,000
Accrued expenses and other liabilities	1	−1	−825,000	555,000	2
Net cash used in operating activities	−60	−2	−91	−97	−78
Purchases of marketable securities	−180	−179	−195	−151	−216
Maturities of marketable securities	211	211	159	166	88
Purchases of property and equipment	−314,000	−278,000	−508,000	−2	−2
Net cash provided by investing activities	31	32	−37	12	−130
Proceeds from issuance of common stock and pre-funded warrants in connection with public offerings, net of issuance costs	165	0	117	81	183
Proceeds from issuance of common stock under benefit plans, net	4	3	777,000	4	4
Net cash provided by financing activities	169	3	118	84	187
Net increase in cash, cash equivalents and restricted cash	139	33	−10	−314,000	−22
Cash paid for operating lease liabilities	3	3	3	2	—
Offering costs unpaid at end of period	333,000	0	—	—	—

Filings

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Frequently asked questions

What is Fulcrum Therapeutics, Inc.'s CIK number?

Fulcrum Therapeutics, Inc.'s SEC CIK number is 0001680581 (1680581). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Fulcrum Therapeutics, Inc.'s SEC filings?

All of Fulcrum Therapeutics, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Fulcrum Therapeutics, Inc. last report earnings?

Fulcrum Therapeutics, Inc. (FULC) most recently filed an earnings 8-K with the SEC on Apr 27, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-178806). This is Fulcrum Therapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Fulcrum Therapeutics, Inc.'s most recent earnings 8-K?

Fulcrum Therapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed Apr 27, 2026 under accession 0001193125-26-178806. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Fulcrum Therapeutics, Inc.'s latest earnings 8-K →
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