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Mar 31, 2023
Fulcrum Therapeutics Q1 2023 Earnings Report
Fulcrum Therapeutics reported financial results for the first quarter of 2023 and provided a business update.
Key Takeaways
Fulcrum Therapeutics reported a net loss of $24.8 million for the first quarter of 2023. The company's cash, cash equivalents, and marketable securities were $297.8 million as of March 31, 2023. They are on track to complete enrollment in Phase 3 REACH trial of losmapimod in facioscapulohumeral muscular dystrophy (FSHD) during 2H’23 and active discussions continue with the U.S. Food and Drug Administration (FDA) to resolve clinical hold for FTX-6058 in sickle cell disease (SCD).
Appointed Alex C. Sapir CEO & President, effective July 1st, 2023
On track to complete enrollment in Phase 3 REACH trial of losmapimod in facioscapulohumeral muscular dystrophy (FSHD) during 2H’23
Active discussions continue with the U.S. Food and Drug Administration (FDA) to resolve clinical hold for FTX-6058 in sickle cell disease (SCD)
Completed underwritten public offering of common stock in January 2023, raising approximately $117.3 million in net proceeds.
Fulcrum Therapeutics
Fulcrum Therapeutics
Forward Guidance
Fulcrum expects that its existing cash, cash equivalents, and marketable securities will be sufficient to fund its operating expenses and capital expenditure requirements into mid-2025.