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Sep 30, 2024
Fulcrum Therapeutics Q3 2024 Earnings Report
Announced third quarter 2024 financial results and business highlights.
Key Takeaways
Fulcrum Therapeutics reported a net loss of $21.7 million for the third quarter of 2024. The company's cash, cash equivalents, and marketable securities totaled $257.2 million as of September 30, 2024, and they anticipate that the cash will be sufficient to fund operating requirements into at least 2027.
Patient enrollment and site activation are progressing in the Phase 1b PIONEER trial of pociredir in sickle cell disease (SCD).
Fulcrum plans to initiate Phase 1 clinical studies in healthy volunteers in support of the overall pociredir development program.
Fulcrum suspended development of losmapimod and has focused its research and development activities on advancing pociredir for the treatment of SCD.
Ended the third quarter of 2024 with $257.2 million in cash, cash equivalents, and marketable securities; cash runway into at least 2027.
Forward Guidance
Fulcrum expects to end 2024 with approximately $240.0 million of cash, cash equivalents, and marketable securities and expects its cash burn for the full year 2025 will be approximately $55.0 million to $65.0 million. Fulcrum also expects that its cash, cash equivalents, and marketable securities as of September 30, 2024 will be sufficient to fund its current operating requirements into at least 2027.
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