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Fulcrum Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops small molecules to improve the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its clinical-stage product candidate is pociredir, a fetal hemoglobin inducer, which is in phase 1b clinical trial for the treatment of sickle cell disease and beta-thalassemia. The company also discovers programs for the treatment of diamond-blackfan anemia, Bone Marrow Failure Syndromes, novel fetal hemoglobin inducers, fibrotic disorders. It has licensce agreement with CAMP4 which includes certain small molecule compounds, composition of matter and method of use patent rights, and know-how to research, develop, manufacture, use, and commercialize. Fulcrum Therapeutics, Inc. was Incorporated in 2015 and is headquartered in Cambridge, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $0M | $-83M | $-75M | $-60M | -21.5% | -100.0% | - |
| 2024 | $80M | $-18M | $-10M | $-2M | -4.0% | 2752.0% | - |
| 2023 | $3M | $-108M | $-97M | $-91M | -41.4% | -55.8% | - |
| 2022 | $6M | $-110M | $-110M | $-99M | -55.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 6.34 | 2.81 | 80 | 0 |
| Operating Expense | 118.48 | 113.47 | 99.83 | 84.77 |
| Operating Income | -112.13 | -110.66 | -19.83 | -84.77 |
| EBITDA | -109.72 | -108.49 | -18.24 | -83.38 |
| EBIT | -112.13 | -110.66 | -19.83 | -84.77 |
| Pretax Income | -109.87 | -97.33 | -9.72 | -74.88 |
| Net Income | -109.87 | -97.33 | -9.72 | -74.88 |
| Net Income Common Stockholders | -109.87 | -97.33 | -9.72 | -74.88 |
| Total Expenses | 118.48 | 113.47 | 99.83 | 84.77 |
| Research And Development | 76.78 | 71.80 | 63.39 | 56.10 |
| Selling General And Administration | 41.69 | 41.67 | 36.45 | 28.67 |
| Normalized EBITDA | -109.29 | -108.49 | -16.18 | -83.38 |
| Normalized Income | -109.44 | -97.33 | -7.66 | -74.88 |
| Basic EPS | -2.44 | -1.59 | -0.16 | 0 |
| Diluted EPS | -2.44 | -1.59 | -0.16 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Total Unusual Items | -0.43 | 0 | -2.06 | 0 |
| Total Unusual Items Excluding Goodwill | -0.43 | 0 | -2.06 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -109.87 | -97.33 | -9.72 | -74.88 |
| Reconciled Depreciation | 2.41 | 2.17 | 1.59 | 1.39 |
| Net Income From Continuing And Discontinued Operation | -109.87 | -97.33 | -9.72 | -74.88 |
| Total Operating Income As Reported | -112.56 | -110.66 | -21.90 | -84.77 |
| Diluted Average Shares | 44.99 | 61.31 | 61.98 | 0 |
| Basic Average Shares | 44.99 | 61.31 | 61.98 | 0 |
| Diluted NI Availto Com Stockholders | -109.87 | -97.33 | -9.72 | -74.88 |
| Net Income Including Noncontrolling Interests | -109.87 | -97.33 | -9.72 | -74.88 |
| Net Income Continuous Operations | -109.87 | -97.33 | -9.72 | -74.88 |
| Other Income Expense | 2.26 | 13.33 | 10.11 | 9.89 |
| Other Non Operating Income Expenses | 2.69 | 13.33 | 12.17 | 9.89 |
| Special Income Charges | -0.43 | 0 | -2.06 | 0 |
| Restructuring And Mergern Acquisition | 0.43 | 0 | 2.06 | 0 |
| General And Administrative Expense | 41.69 | 41.67 | 36.45 | 28.67 |
| Other Gand A | 18.21 | 16.86 | 16.69 | 11.34 |
| Salaries And Wages | 23.49 | 24.81 | 19.75 | 17.33 |
| Operating Revenue | 6.34 | 2.81 | 80 | 0 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Fulcrum Therapeutics, Inc.this co. | FULC | $476M | - | 1.36 | -21.5% | -1.75 |
| Esperion Therapeutics, Inc. | ESPR | $492M | - | -1.55 | 7.5% | 14.42 |
| ADC Therapeutics SA | ADCT | $481M | - | -2.56 | 76.7% | -6.25 |
| Verastem, Inc. | VSTM | $474M | - | 7.34 | -366.2% | -2.10 |
| agilon health, inc. | AGL | $465M |
| - |
| 3.65 |
| -308.8% |
| -0.53 |
| Ginkgo Bioworks Holdings, Inc. | DNA | $464M | - | 0.86 | -61.5% | -1.69 |
| Varex Imaging Corporation | VREX | $462M | - | 0.97 | -14.4% | 7.73 |
| Orthofix Medical Inc. | OFIX | $461M | - | 1.02 | -20.5% | -94.86 |
| 4D Molecular Therapeutics, Inc. | FDMT | $461M | - | 1.00 | -27.7% | -0.45 |
| Peer Median | - | - | 0.99 | -24.1% | -1.11 | |