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Jun 30, 2020
Fulcrum Therapeutics Q2 2020 Earnings Report
Fulcrum Therapeutics reported financial results for the second quarter of 2020 and provided a business update.
Key Takeaways
Fulcrum Therapeutics reported on key progress across its pipeline, including positive interim data from the ReDUX4 trial and progress with FTX-6058. The company also expanded its research efforts into genetic cardiomyopathies and initiated a Phase 3 trial for losmapimod in hospitalized patients with COVID-19. Fulcrum strengthened its cash position through a private placement.
Announced interim data for ReDUX4, a Phase 2b trial of losmapimod in facioscapulohumeral muscular dystrophy (FSHD).
Initiated international, multicenter Phase 3 trial with losmapimod for hospitalized patients with COVID-19 (LOSVID).
On track to initiate Phase 1 trial of FTX-6058 in the fourth quarter of 2020.
Completed $68.5 million private placement in June 2020 to fund research and development expenses and other general corporate purposes.
Fulcrum Therapeutics
Fulcrum Therapeutics
Forward Guidance
Fulcrum Therapeutics expects to report topline data from the LOSVID trial in the first quarter of 2021 and is on track to initiate a Phase 1 trial of FTX-6058 in the fourth quarter of 2020. The company anticipates that its existing cash, cash equivalents, and marketable securities will be sufficient to enable it to fund its operating expenses and capital expenditure requirements into the first quarter of 2022.
Positive Outlook
- Remain on track to share topline results on the primary endpoint in the first quarter of 2021 and full data, including all secondary and exploratory endpoints, in the second quarter of 2021 for ReDUX4.
- Expect to report topline data in the first quarter of 2021 for LOSVID.
- On track to initiate Phase 1 trial of FTX-6058 in the fourth quarter of 2020.
- On-track to submit investigational new drug (IND) application in Q3 2020 for FTX-6058.
- Existing cash, cash equivalents, and marketable securities will be sufficient to enable it to fund its operating expenses and capital expenditure requirements into the first quarter of 2022.