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Fulcrum Therapeutics (FULC)
NASDAQ:FULC
Top Page
Fulcrum Therapeutics
(NASDAQ:FULC)
64Neutral
Positive Factors
Enrollment Acceleration
Enrollment has been boosted by the overall excitement and momentum around fetal hemoglobin induction, and FULC is leading that charge.
Financial Position
Fulcrum has $226.6M in cash and a financial runway into 2027, positioning the company well for future developments.
Market Opportunity
Given the withdrawal of OXBRYTA from the market, pociredir has the potential to be a replacement and a superior alternative among oral treatments.
Negative Factors
Conservative Market View
Analyst reiterates an Underperform rating with a price objective of $2, indicating a conservative view on the program as initial data in the narrowed SCD population is awaited.
Patient Population Challenges
FULC had to narrow the patient population they enrolled in Phase 1b due to evidence of hematological malignancies observed with other inhibitors of polycomb repressive complex 2.
Study Complications
Patients being recruited in the 12mg dose cohort tend to have more disease severity, which could complicate the study outcomes.
Fulcrum Therapeutics (FULC) vs. S&P 500 (SPY)
Market Cap
$303.36M
Dividend YieldN/A
Average Volume (3M)492.13K
Price to Earnings (P/E)―
Beta (1Y)1.31
Revenue Growth3087.25%
EPS Growth97.11%
CountryUS
Employees45
SectorHealthcare
Sector Strength60
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.28
Shares Outstanding53,979,305
10 Day Avg. Volume822,833
30 Day Avg. Volume492,130
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap-0.13
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-13.75
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$5.33Price Target Upside-0.37% Downside
Rating ConsensusHold
Number of Analyst Covering6
Fulcrum Therapeutics Business Overview & Revenue Model
Company DescriptionFulcrum 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; and FTX-6058, an investigational oral fetal hemoglobin inducer for the treatment of sickle cell disease and other hemoglobinopathies, including beta-thalassemia. 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. Fulcrum Therapeutics, Inc. has research and discovery collaboration agreement with Acceleron Pharma Inc. to identify biological targets to modulate specific pathways associated with a targeted indication within the pulmonary disease space; and has a strategic collaboration and license agreement with MyoKardia, Inc. to discover, develop, and commercialize novel targeted therapies for the treatment of genetic cardiomyopathies. Fulcrum Therapeutics, Inc. was Incorporated in 2015 and is headquartered in Cambridge, Massachusetts.
How the Company Makes MoneyFulcrum Therapeutics generates revenue primarily through strategic collaborations and partnerships with other pharmaceutical and biotechnology companies. These partnerships often involve licensing agreements, research and development collaborations, and milestone payments related to the advancement of specific drug candidates. The company may also earn revenue through grants and funding from governmental and non-governmental organizations to support its research initiatives. Additionally, as its drug candidates progress through clinical trials and potentially reach the market, Fulcrum Therapeutics anticipates revenue from product sales and royalties based on successful commercialization.
Fulcrum Therapeutics Financial Statement Overview
Summary
Fulcrum Therapeutics shows stable revenue and strong gross profit margins, but faces challenges with negative net income and EBIT margin. While the balance sheet is robust with low leverage, cash flow improvements are overshadowed by inconsistent sustainability due to continuous net losses.Income Statement
Fulcrum Therapeutics shows a stable revenue over the TTM period with $80M, but the company is struggling with negative net income at -$510,000 and a significant negative EBIT margin of -15.58%. The company's gross profit margin is strong at 78.42%, indicating good cost control over production, but the high operating losses need addressing to improve profitability.―
Balance Sheet
The balance sheet of Fulcrum Therapeutics is robust, with a high equity ratio of 94.15% and low debt-to-equity ratio of 0.04, indicating minimal reliance on debt. The company's stockholders' equity stands strong at $228.49M, providing a solid financial foundation. However, the company needs to focus on converting this equity strength into operational profitability.70
Cash Flow
Fulcrum Therapeutics shows improvement in cash flow with a positive operating cash flow of $7.81M in the TTM period, turning around from previous negative cash flows. The free cash flow is also positive at $7.56M, indicating better cash management. However, the operating cash flow to net income ratio is not sustainable at 15.31 due to negative net income, which suggests future cash flow stability is uncertain.―
| Breakdown | ||||
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 2.81M | 6.34M | 19.16M | 8.82M | 0.00 | Gross Profit |
| 2.81M | 3.93M | 16.65M | 6.44M | -2.05M | EBIT |
| -110.66M | -112.56M | -81.05M | -71.61M | -84.22M | EBITDA |
| -108.49M | -109.72M | -78.54M | -69.23M | -82.16M | Net Income Common Stockholders |
| -97.33M | -105.62M | -78.33M | -68.44M | -79.11M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 236.22M | 202.92M | 218.16M | 112.91M | 96.71M | Total Assets |
| 257.69M | 226.69M | 235.00M | 129.58M | 110.44M | Total Debt |
| 10.82M | 13.42M | 0.00 | 17.00K | 50.00K | Net Debt |
| -14.74M | -21.68M | -35.41M | -57.03M | -96.66M | Total Liabilities |
| 22.50M | 27.74M | 23.46M | 34.40M | 23.29M | Stockholders Equity |
| 235.19M | 198.94M | 211.54M | 95.18M | 87.15M |
| Cash Flow | Free Cash Flow | |||
| -91.47M | -99.01M | -80.19M | -55.00M | -40.34M | Operating Cash Flow |
| -90.97M | -97.05M | -78.48M | -53.66M | -39.48M | Investing Cash Flow |
| -36.69M | 12.41M | -129.67M | -57.14M | -944.00K | Financing Cash Flow |
| 118.12M | 84.32M | 186.51M | 71.13M | 64.34M |
Fulcrum Therapeutics Technical Analysis
Positive
5.35
Price Trends
3.30
Positive
3.73
Positive
4.62
Positive
Market Momentum
0.55
Negative
76.17
Negative
78.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FULC, the sentiment is Positive. The current price of 5.35 is above the 20-day moving average (MA) of 3.65, above the 50-day MA of 3.30, and above the 200-day MA of 4.62, indicating a bullish trend. The MACD of 0.55 indicates Negative momentum. The RSI at 76.17 is Negative, neither overbought nor oversold. The STOCH value of 78.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FULC.
Fulcrum Therapeutics Risk Analysis
Fulcrum Therapeutics disclosed 70 risk factors in its most recent earnings report. Fulcrum Therapeutics reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Fulcrum Therapeutics Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $147.90M | 4.88 | 41.60% | ― | -2.19% | 34.91% | |
64 Neutral | $303.36M | ― | -0.23% | ― | 3087.25% | 97.11% | |
52 Neutral | $5.24B | 3.76 | -41.88% | 2.85% | 17.01% | 0.78% | |
47 Neutral | $206.07M | ― | -19.08% | ― | ― | 26.63% | |
46 Neutral | $167.27M | ― | -52.00% | ― | -100.00% | 38.72% | |
42 Neutral | $165.42M | ― | -53.27% | ― | ― | 2.53% | |
38 Underperform | $136.22M | ― | -57.58% | ― | 15.18% | -9.47% |
* Healthcare Sector Average
Performance Comparison
FULC
Fulcrum Therapeutics
5.35
-2.19
-29.05%
PBYI
Puma Biotechnology
2.98
-1.77
-37.26%
DMAC
Diamedica Therapeutics
3.86
0.20
5.46%
TNGX
Tango Therapeutics
1.26
-6.59
-83.95%
IKT
Inhibikase Therapeutics
1.94
0.68
53.97%
DSGN
Design Therapeutics
3.63
-1.06
-22.60%
Fulcrum Therapeutics Earnings Call Summary
Earnings Call Date:May 01, 2025
(Q1-2025)
| % Change Since: 38.96%|
Next Earnings Date:Aug 06, 2025
Earnings Call Sentiment Positive
The earnings call reflects a generally positive outlook for Fulcrum Therapeutics. The company reported significant progress in clinical trials, particularly with their PIONEER trial for sickle cell disease, and financial improvements due to decreased expenses. However, the decrease in cash reserves and net loss are points of concern. Overall, the highlights outweigh the lowlights, suggesting a positive sentiment.Q1-2025 Updates
Positive Updates
Successful Enrollment in Phase 1b PIONEER Trial
Fulcrum Therapeutics completed enrollment of the 12 milligram cohort in their Phase 1b PIONEER trial for sickle cell disease, with 16 patients enrolled. The trial is progressing to the 20 milligram cohort.
Positive Data Monitoring Committee Recommendation
The Data Monitoring committee recommended continuing the PIONEER study as planned after reviewing interim data from the 12 milligram cohort, allowing the initiation of the 20 milligram cohort.
Financial Improvements and Cost Reductions
Research and development expenses decreased by $6.4 million compared to the first quarter of 2024, attributed to the discontinuation of the losmapimod program and cost-sharing with Sanofi. General and administrative expenses also decreased by $3.1 million.
Strong Financial Position
Fulcrum ended the first quarter of 2025 with $226.6 million in cash, cash equivalents, and marketable securities, sufficient to fund operations into at least 2027.
Upcoming Data Releases
Fulcrum plans to release data from the 12 milligram cohort in early Q3 and the 20 milligram cohort by the end of 2025, with additional presentations at the European Hematology Association meeting.
Negative Updates
Decrease in Cash Reserves
Cash, cash equivalents, and marketable securities decreased by $14.4 million from December 31, 2024, due to operational funding.
Net Loss for the Quarter
Fulcrum reported a net loss of $17.7 million for the first quarter of 2025, albeit an improvement from a net loss of $26.9 million in the same period of 2024.
Company Guidance
During Fulcrum Therapeutics' First Quarter 2025 Financial Results and Business Update Conference Call, the company provided guidance on several key metrics. The Phase 1b PIONEER trial for their lead program, pociredir, completed enrollment in the 12 mg cohort with 16 patients, and results are expected in early Q3. The median fetal hemoglobin level at the study's start was 7.7%, with a mean of 7.6%. The trial boasts over 90% adherence to the once-daily regimen, and the Data Monitoring Committee recommended proceeding with the 20 mg cohort, with data also expected by the end of 2025. Financially, Fulcrum reported a net loss of $17.7 million for Q1 2025 and ended the quarter with $226.6 million in cash and equivalents. They anticipate these funds will suffice to support operations into at least 2027.Fulcrum Therapeutics Corporate Events
Business Operations and Strategy
Fulcrum Therapeutics Faces Termination of Key Agreement
Negative
Mar 4, 2025
On February 26, 2025, Fulcrum Therapeutics received a termination notice from MyoKardia regarding their collaboration and license agreement established in 2020. The termination, effective June 26, 2025, will end Fulcrum’s entitlement to milestone payments and royalties, impacting the company’s financial expectations from this partnership.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.