Loading...
•
Dec 31, 2022
Fulcrum Therapeutics Q4 2022 Earnings Report
Fulcrum Therapeutics reported financial results for the fourth quarter and full year 2022 and provided a business update, including on FTX-6058.
Key Takeaways
Fulcrum Therapeutics reported a collaboration revenue of $0.7 million and a net loss of $26.1 million for the fourth quarter of 2022. The company is working to address the clinical hold on FTX-6058 and remains on track to complete enrollment in the losmapimod Phase 3 REACH trial during 2H’23.
The FDA placed a full clinical hold on the IND application for FTX-6058 due to preclinical and clinical evidence of hematological malignancies observed with other PRC2 inhibitors.
Fulcrum is working to address the clinical hold on FTX-6058 and believes it has the potential to be a differentiated therapeutic option for sickle cell disease.
The company is on track to complete enrollment in the Phase 3 REACH trial of losmapimod in facioscapulohumeral muscular dystrophy during the second half of 2023.
Fulcrum completed a public offering in 1Q'23, generating approximately $117.3 million in net proceeds, and expects its cash runway to extend into mid-2025.
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.