Fulcrum Therapeutics, Inc. (FULC) SEC Filings & Earnings Calls
EquiReason read 16 Fulcrum Therapeutics, Inc. SEC filings in the last 12 months. Latest: 8-K on 2026-08-17 — Fulcrum Therapeutics to merge with Slate Medicines via reverse merger; Fulcrum issues shares, change of control, CEO departure. Combined company to list on Nasdaq..
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
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- 29 Oct, in 5 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
17 Aug 20268-K · 1.01, 3.02, 5.01, 5.02, 7.01Fulcrum Therapeutics to merge with Slate Medicines via reverse merger; Fulcrum issues shares, change of control, CEO departure. Combined company to list on Nasdaq.being acquiredopen
Risks flagged
Merger closing conditions and stockholder approval required
“risk that the conditions to the closing of the proposed transaction are not satisfied” · word for word
10 Aug 20268-K · 5.02Reported a director or officer change (departure, election, appointment or pay arrangement)open
Risks flagged
Departure of principal accounting officer; CFO assumes role, mitigating risk.
“Orderly transition; CFO already serving as principal financial officer.”
30 Jul 202610-QFulcrum Therapeutics discontinued its only clinical program (pociredir) due to FDA safety concerns, reduced workforce by 85%, ceased R&D, and initiated a strategic review that may lead to dissolution.open
Figures in the filing · each found in the filing text
| Net loss · H1-2026 | $-45M | +29% y/y |
| Cash, cash equivalents, and marketable securities · 2026-06-30 | $319M | |
| Accumulated deficit · 2026-06-30 | $639M | |
| Research and development expenses · H1-2026 | $27M | +1% y/y |
| Impairment of long-lived assets · H1-2026 | $5M | |
| Restructuring expenses · H1-2026 | $4M |
Risks flagged
Program discontinuation due to FDA safety concerns
“FDA concluded that any pharmacological intervention targeting the PRC2 complex carries equivalent malignancy risk regardless of the specific subunit engaged.” · word for word
Going concern risk if strategic review fails
“If we are unable to identify and complete a strategic transaction, our board of directors may determine to pursue a dissolution and liquidation of the company.” · word for word
11 Jun 20268-K · 5.02Reported a director or officer change (departure, election, appointment or pay arrangement)open
Risks flagged
Company undergoing restructuring; key finance personnel departing.
“Retention payments and departure of principal accounting officer.”
4 Jun 20268-K · 2.05, 8.01Approved costs associated with restructuring, layoffs, or exit activities; disclosed a material event under other events (litigation, recall, contract loss, or major announcement)open
Risks flagged
Severe workforce reduction and strategic alternatives review indicate going concern risk.
“85% workforce cut, discontinuation of lead program, strategic review.”
1 Jun 20268-K · 8.01Disclosed a material event under other events (litigation, recall, contract loss, or major announcement); filed financial statements and exhibits with this reportopen
Risks flagged
Lead program failure and strategic review indicate high risk of value impairment.
“Discontinuation of pociredir and strategic alternatives review.”
30 Apr 2026DEF 14AProxy statement for 2026 annual meeting; no material event disclosed beyond routine governance and compensation matters.open
Figures in the filing · each found in the filing text
| Net loss · FY2025 | $-75M | |
| Net proceeds from equity offering · 2025-12 | $164M | |
| Mean absolute HbF increase (12 mg cohort, 12 weeks) · 2025-07 | 8.6% | |
| Mean absolute HbF increase (20 mg cohort, 6 weeks) · 2025-12 | 9.9% |
27 Apr 20268-K · 1.02, 2.02, 5.02Terminated a material definitive agreement, ending a significant contract; released earnings results and quarterly financialsopen
Risks flagged
Termination of key license agreement and CFO departure increase operational and strategic risk.
“License termination and CFO retirement.”
27 Apr 202610-QNet loss $-19M; Research and development expenses $14M (+5% y/y); Cash, cash equivalents, and marketable securities $333M; Guidance: Cash runway into 2029open
Figures in the filing · each found in the filing text
| Net loss · Q1-2026 | $-19M | |
| Research and development expenses · Q1-2026 | $14M | +5% y/y |
| Cash, cash equivalents, and marketable securities · Q1-2026 | $333M | |
| Accumulated deficit · Q1-2026 | $-613M | |
| Pociredir external expenses · Q1-2026 | $5M | +27% y/y |
Guidance
Cash runway into 2029
Company reaffirms its cash runway guidance into 2029 and plans to initiate a registration-enabling trial for pociredir in H2 2026.
Risks flagged
Clinical development risk for pociredir
“We are early in our development efforts and we currently have one product candidate in active clinical development.” · word for word
History of significant losses and accumulated deficit
“As of March 31, 2026, we had an accumulated deficit of $613.2 million.” · word for word
Dependence on single product candidate
“We currently have only one product candidate in active clinical development, pociredir, for the potential treatment of SCD.” · word for word
24 Feb 202610-KNet loss $-75M; Cash, cash equivalents, and marketable securities $352M; Research and development expenses $56M (-12% y/y)open
Figures in the filing · each found in the filing text
| Net loss · FY2025 | $-75M | |
| Cash, cash equivalents, and marketable securities · 2025-12-31 | $352M | |
| Research and development expenses · FY2025 | $56M | -12% y/y |
| General and administrative expenses · FY2025 | $29M | -21% y/y |
| Accumulated deficit · 2025-12-31 | $594M | |
| Net cash used in operating activities · FY2025 | $-60M | |
| Net cash provided by financing activities · FY2025 | $169M | |
| Pociredir external expenses · FY2025 | $20M | +133% y/y |
| Losmapimod external expenses · FY2025 | $941000.00 | -96% y/y |
| Employees · 2026-02-17 | 55 |
Risks flagged
Clinical trial failure risk
“We have incurred significant operating losses since our inception and we expect to continue to incur significant operating losses for the foreseeable future.” · word for word
Dependence on single product candidate
“Our lead product candidate, pociredir, is in clinical development for the potential treatment of SCD.” · word for word
Need for additional funding
“We will need substantial additional funding to support our continuing operations and pursue our growth strategy.” · word for word
24 Feb 20268-K · 2.02Cash, cash equivalents, and marketable securities $352M (+46% y/y); Research and development expenses $15M (+32% y/y); Net loss $-20M (+22% y/y)earningsopen
Figures in the filing · each found in the filing text
| Cash, cash equivalents, and marketable securities · Q4-2025 | $352M | +46% y/y |
| Research and development expenses · Q4-2025 | $15M | +32% y/y |
| Net loss · Q4-2025 | $-20M | +22% y/y |
| General and administrative expenses · Q4-2025 | $7M | -5% y/y |
Risks flagged
Clinical trial risk for pociredir registration-enabling trial.
“Pending feedback from the FDA, Fulcrum plans to initiate a potential registration-enabling trial in the second half of 2026.” · word for word
Discontinued bone marrow failure program reduces pipeline diversity.
“Fulcrum has decided not to advance its program for bone marrow failure syndromes into clinical development.” · word for word
12 Jan 20268-K · 2.02, 7.01Cash, cash equivalents and marketable securities $352Mearningsopen
Figures in the filing · each found in the filing text
| Cash, cash equivalents and marketable securities · FY2025 | $352M |
Risks flagged
Clinical trial risk for pociredir; no revenue yet.
“Phase 1b PIONEER completing in 2026; End-of-Phase meeting planned with FDA 1H 2026”
11 Dec 20258-K · 1.01, 8.01Entered a material definitive agreement (acquisition, partnership, or major contract); disclosed a material event under other events (litigation, recall, contract loss, or major announcement)open
Risks flagged
Dilution risk from equity offering; potential cash burn concern
“Underwritten public offering with pre-funded warrants; company has accumulated deficit and negative net income per known metrics”
8 Dec 20258-K · 7.01, 8.01Mean absolute HbF increase at Week 6 9.9; Patients achieving HbF ≥20% at Week 6 7; Fold induction of HbF at Week 12 3.75open
Figures in the filing · each found in the filing text
| Mean absolute HbF increase at Week 6 · 20 mg cohort · Q4-2025 | 9.9% | |
| Patients achieving HbF ≥20% at Week 6 · 20 mg cohort · Q4-2025 | 7 | |
| Fold induction of HbF at Week 12 · 20 mg cohort · Q4-2025 | $3.75 | |
| Mean hemoglobin increase at Week 6 · 20 mg cohort · Q4-2025 | $0.80 |
Risks flagged
Clinical trial risk remains; data is early-stage (Phase 1b) and small sample size (n=12).
“Phase 1b open-label trial with 12 patients; Week 12 data only for 6 patients.”
29 Oct 20258-K · 2.02Cash, cash equivalents, and marketable securities $201M; R&D expenses $14M (-2% y/y); G&A expenses $8M (-10% y/y)earningsopen
Figures in the filing · each found in the filing text
| Cash, cash equivalents, and marketable securities · Q3-2025 | $201M | |
| R&D expenses · Q3-2025 | $14M | -2% y/y |
| G&A expenses · Q3-2025 | $8M | -10% y/y |
| Net loss · Q3-2025 | $-20M | -10% y/y |
Risks flagged
Clinical-stage biotech with no approved products
“Clinical-stage biopharmaceutical company; net loss of $19.6M in Q3 2025”
Dependence on pociredir clinical trial success
“Lead clinical program is pociredir; data from 20 mg dose cohort pending”
Cash burn rate
“Cash decreased by $40.4M from $241.0M at Dec 2024 to $200.6M at Sep 2025”
29 Oct 202510-QFulcrum reported Q3 2025 results with positive Phase 1b pociredir data, increased net loss, and cash runway into 2028.earningsopen
Figures in the filing · each found in the filing text
| Cash, Cash Equivalents, and Marketable Securities · Q3-2025 | $201M | |
| Net Loss · 9M-2025 | $-55M | |
| Accumulated Deficit · Q3-2025 | $574M | |
| Research and Development Expenses · 9M-2025 | $41M | -21% y/y |
| General and Administrative Expenses · 9M-2025 | $21M | -26% y/y |
| Operating Cash Flow · 9M-2025 | $-43M |
Risks flagged
Single product candidate risk
“We currently have only one product candidate in active clinical development, pociredir for the treatment of SCD.” · word for word
History of losses and need for additional capital
“We have incurred significant operating losses since our inception and expect to continue to incur significant operating losses for the foreseeable future.” · word for word
Clinical trial failure risk
“The risk of failure for product candidates is high and it is impossible to predict when or if any of our product candidates will prove effective or safe in humans or will receive regulatory approval.” · word for word
Fulcrum Therapeutics, Inc. — questions
- What did Fulcrum Therapeutics, Inc. file recently?
- 16 SEC filings in the last 12 months. Latest: 8-K on 2026-08-17 — Fulcrum Therapeutics to merge with Slate Medicines via reverse merger; Fulcrum issues shares, change of control, CEO departure. Combined company to list on Nasdaq.
Every figure on this page comes from Fulcrum Therapeutics, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.