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Mar 31, 2025
Fulcrum Therapeutics Q1 2025 Earnings Report
Reported first quarter 2025 financial results and provided business update
Key Takeaways
Fulcrum Therapeutics reported a reduced net loss in Q1 2025 compared to the previous year, primarily due to decreased R&D and G&A expenses. The company ended the quarter with a strong cash position, extending its cash runway into at least 2027.
Net loss for Q1 2025 was $17.7 million, a decrease from $26.9 million in Q1 2024.
Research and development expenses decreased by $6.4 million compared to the prior year period.
General and administrative expenses decreased by $3.1 million compared to the prior year period.
Cash, cash equivalents, and marketable securities totaled $226.6 million as of March 31, 2025.
Forward Guidance
Fulcrum expects its current cash, cash equivalents, and marketable securities to fund operations into at least 2027.
Positive Outlook
- Cash runway extended into at least 2027.
- Enrollment complete in the 12 mg dose cohort of the Phase 1b PIONEER trial.
- Initiated the 20 mg dose cohort of the Phase 1b PIONEER trial.
- On track to provide clinical data from the 12 mg dose cohort in early Q3 2025.
- Plans to submit an IND for DBA during the fourth quarter of 2025.
Challenges Ahead
- Requires substantial additional capital to achieve business objectives.
- Ability to initiate and enroll clinical trials on expected timelines is uncertain.
- Obtaining and maintaining necessary regulatory approvals is not guaranteed.
- Replicating positive preclinical/early-stage results in later clinical trials is uncertain.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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