FULC on Nasdaq
Fulcrum Therapeutics (United States)
American pharmaceutical preparations company, incorporated in Delaware.1
Price unavailable
Last updated Oct 18, 2026.
Overview
2016Founded1
Compare with Eton Pharmaceuticals, Inc., Alimera Sciences or ADC Therapeutics SA, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Collaboration revenue | $0 | $80.0M |
| Research and development | $56.1M | $63.4M |
| General and administrative | $28.7M | $36.4M |
| Restructuring expenses | $0 | $2.1M |
| Total operating expenses | $84.8M | $101.9M |
| Loss from operations | -$84.8M | -$21.9M |
| Other income, net | $9.9M | $12.2M |
| Net loss | -$74.9M | -$9.7M |
| Net loss per share, Basic | -$1.18 | -$0.16 |
| Net loss per share, diluted | -$1.18 | -$0.16 |
| Weighted-average common shares outstanding, Diluted | 63.4K shares | 62.0K shares |
| Weighted-average common shares outstanding, Basic | 63.4K shares | 62.0K shares |
| Unrealized gain on marketable securities | $44.0K | $266.0K |
| Total other comprehensive gain | $44.0K | $266.0K |
| Comprehensive loss | -$74.8M | -$9.5M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $197.5M | $58.2M | |
| Marketable securities | $154.8M | $182.8M | |
| Unbilled accounts receivable | $0 | $2.1M | |
| Prepaid expenses and other current assets | $5.2M | $6.8M | |
| Total current assets | $357.5M | $249.9M | |
| Property and equipment, net | $2.8M | $3.9M | |
| Operating lease right-of-use assets | $4.2M | $5.7M | |
| Restricted cash | $1.2M | $1.2M | |
| Other assets | $538.0K | $10.0K | |
| Total assets | $366.3M | $260.7M | |
| Accounts payable | $1.6M | $1.2M | |
| Accrued expenses and other current liabilities | $9.1M | $7.7M | |
| Operating lease liability, current | $2.4M | $2.2M | |
| Total current liabilities | $13.0M | $11.0M | |
| Operating lease liability, excluding current portion | $4.0M | $6.4M | |
| Other liabilities, excluding current portion | $197.0K | $197.0K | |
| Total liabilities | $17.3M | $17.7M | |
| Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding | $0 | $0 | |
| Common stock, $0.001 par value; 200,000,000 shares authorized; 66,578,891 and 53,968,303 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $67.0K | $54.0K | |
| Additional paid-in capital | $943.0M | $762.2M | |
| Accumulated other comprehensive gain | $174.0K | $130.0K | |
| Accumulated deficit | -$594.3M | -$519.4M | |
| Total stockholders equity | $349.0M | $243.0M | $235.2M |
| Total liabilities and stockholders equity | $366.3M | $260.7M | |
| Preferred stock, par value | $0.00 | $0.00 | |
| Preferred stock, shares authorized | 5.0M shares | 5.0M shares | |
| Preferred stock, shares issued | 0 shares | 0 shares | |
| Preferred stock, shares outstanding | 0 shares | 0 shares | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorized | 200.0M shares | 200.0M shares | |
| Common stock, shares issued | 66.6M shares | 54.0M shares | |
| Common stock, shares outstanding | 66.6M shares | 54.0M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $197.5M | $58.2M | |
| Marketable securities | $154.8M | $182.8M | |
| Unbilled accounts receivable | $0 | $2.1M | |
| Prepaid expenses and other current assets | $5.2M | $6.8M | |
| Total current assets | $357.5M | $249.9M | |
| Property and equipment, net | $2.8M | $3.9M | |
| Operating lease right-of-use assets | $4.2M | $5.7M | |
| Restricted cash | $1.2M | $1.2M | |
| Other assets | $538.0K | $10.0K | |
| Total assets | $366.3M | $260.7M | |
| Accounts payable | $1.6M | $1.2M | |
| Accrued expenses and other current liabilities | $9.1M | $7.7M | |
| Operating lease liability, current | $2.4M | $2.2M | |
| Total current liabilities | $13.0M | $11.0M | |
| Operating lease liability, excluding current portion | $4.0M | $6.4M | |
| Other liabilities, excluding current portion | $197.0K | $197.0K | |
| Total liabilities | $17.3M | $17.7M | |
| Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding | $0 | $0 | |
| Common stock, $0.001 par value; 200,000,000 shares authorized; 66,578,891 and 53,968,303 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $67.0K | $54.0K | |
| Additional paid-in capital | $943.0M | $762.2M | |
| Accumulated other comprehensive gain | $174.0K | $130.0K | |
| Accumulated deficit | -$594.3M | -$519.4M | |
| Total stockholders equity | $349.0M | $243.0M | $235.2M |
| Total liabilities and stockholders equity | $366.3M | $260.7M | |
| Preferred stock, par value | $0.00 | $0.00 | |
| Preferred stock, shares authorized | 5.0M shares | 5.0M shares | |
| Preferred stock, shares issued | 0 shares | 0 shares | |
| Preferred stock, shares outstanding | 0 shares | 0 shares | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorized | 200.0M shares | 200.0M shares | |
| Common stock, shares issued | 66.6M shares | 54.0M shares | |
| Common stock, shares outstanding | 66.6M shares | 54.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$74.9M | -$9.7M |
| Depreciation expense | $1.4M | $1.6M |
| Stock-based compensation expense | $12.5M | $14.6M |
| Net accretion of discounts on marketable securities | -$3.0M | -$4.4M |
| Unbilled accounts receivable | $2.1M | -$1.6M |
| Prepaid expenses and other current assets | $1.6M | -$1.4M |
| Operating lease assets and liabilities | -$743.0K | -$700.0K |
| Other assets | -$528.0K | $2.0M |
| Accounts payable | $428.0K | -$1.6M |
| Accrued expenses and other liabilities | $1.0M | -$1.0M |
| Net cash used in operating activities | -$60.1M | -$2.2M |
| Purchases of marketable securities | -$180.2M | -$178.6M |
| Maturities of marketable securities | $211.3M | $211.1M |
| Purchases of property and equipment | -$314.0K | -$278.0K |
| Net cash provided by investing activities | $30.7M | $32.2M |
| Proceeds from issuance of common stock and pre-funded warrants in connection with public offerings, net of issuance costs | $164.5M | $0 |
| Proceeds from issuance of common stock under benefit plans, net | $4.2M | $2.7M |
| Net cash provided by financing activities | $168.7M | $2.7M |
| Net increase in cash, cash equivalents and restricted cash | $139.3M | $32.8M |
| Cash paid for operating lease liabilities | $2.6M | $2.8M |
| Offering costs unpaid at end of period | $333.0K | $0 |
No quarter-by-quarter statement was filed.
Compare Fulcrum Therapeutics (United States) with another company
Leadership
Who has led Fulcrum Therapeutics (United States), and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
20202025
- Chief executive officerRobert J. Gould Jan 27, 2020 to Jun 29, 202312
- PresidentRobert J. Gould Jan 27, 2020 to Jun 29, 202312
- Chief financial officerAlan A. Musso Aug 9, 2023 to now13
- Chief financial officerEsther Rajavelu Jan 10, 2022 to Feb 13, 202314
- Chief operating officerMelvin H. Hayes Iii. Aug 11, 2022 to Apr 28, 202315
- Chief operating officerBryan Stuart Jul 17, 2019 to Jan 27, 202116
Board members and other officers (25)
- Chief Medical OfficerPatrick Taylor Horn Mar 20, 2024 to Mar 20, 202417
- OfficerAlex Sapir Jul 3, 2023 to now18
- ControllerGreg Tourangeau Mar 14, 2022 to now19
- Chief Medical OfficerSantiago Arroyo Nov 9, 2022 to Nov 9, 202220
- Chief Scientific OfficerChristopher Moxham Feb 10, 2021 to Aug 12, 202121
- OfficerBryan Stuart Apr 2, 2021 to Jan 21, 202222
- Chief Medical OfficerChristopher Morabito May 12, 2021 to Jan 21, 202223
- OfficerDiego Cadavid Jul 17, 2019 to Jul 2, 202024
- Chief Scientific OfficerOwen B. Wallace Jul 17, 2019 to Sep 14, 202025
- OfficerPeter G. Thomson Jul 17, 2019 to Jan 21, 202226
- OfficerRobert J. Gould Jul 17, 2019 to Mar 17, 202127
- Board memberJoshua Lehrer-Graiwer May 1, 2026 to now28
- Board memberColin Hill Jun 18, 2024 to now29
- Board memberRachel K. King Nov 14, 2024 to now30
- Board memberAlex Sapir Jul 3, 2023 to now18
- Board memberBryan Stuart Apr 2, 2021 to Jan 21, 202222
- Board memberSonja Banks Dec 9, 2021 to now31
- Board memberKatina Dorton Jan 6, 2020 to now32
- Board memberAlan Ezekowitz Jul 17, 2019 to now33
- Board memberJames A. Geraghty Jul 17, 2019 to now34
- Board memberKate Haviland Jul 17, 2019 to now35
- Board memberMark J. Levin Jul 17, 2019 to Nov 12, 202136
- Board memberRobert J. Gould Jul 17, 2019 to now27
- Board memberLuis Alejandro Rojas Apr 4, 2016 to Nov 21, 20221
- General counselCurtis Gale Oltmans Dec 7, 2020 to now37
Timeline
Filings
310 filings to the SEC since October 2021: 8 annual reports, 15 quarterly reports, 60 major events, 116 insider forms, 60 large holders, 51 other. The latest 20:
- Oct 8, 2026S-4/A EDGAR
- Sep 2, 2026144 EDGAR
- Sep 2, 2026S-4 EDGAR
- Aug 17, 2026425 EDGAR
- Aug 17, 2026425 EDGAR
- Aug 17, 2026425 EDGAR
- Aug 17, 20268-K EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 14, 2026SCHEDULE 13G EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 10, 20268-K EDGAR
- Aug 3, 2026SCHEDULE 13G EDGAR
- Jul 30, 202610-Q EDGAR
- Jul 28, 2026SCHEDULE 13G/A EDGAR
- Jul 20, 20264 EDGAR
- Jul 17, 2026SCHEDULE 13G EDGAR
- Jul 15, 2026SCHEDULE 13G/A EDGAR
- Jul 15, 20264 EDGAR
- Jul 15, 20263 EDGAR
The 310 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 60 such filings since October 2021, the latest 10:
- Aug 14, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G
- Aug 14, 2026SCHEDULE 13G/A
- Aug 3, 2026SCHEDULE 13G
- Jul 28, 2026SCHEDULE 13G/A
- Jul 17, 2026SCHEDULE 13G
- Jul 15, 2026SCHEDULE 13G/A
- Jun 25, 2026SCHEDULE 13G
- Jun 25, 2026SCHEDULE 13G
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Nantahala Capital Management, LLC | 10,950,080 | $40.1M | 1.2% | +7,900,040 |
| BlackRock, Inc. | 8,824,259 | $32.3M | 0.0% | +3,433,666 |
| EcoR1 Capital, LLC | 6,549,866 | $24.0M | 1.2% | New |
| Tang Capital Management LLC | 6,521,412 | $23.9M | 1.1% | New |
| Montanova Capital, LLC | 3,680,921 | $13.5M | 0.3% | −2,880,190 |
| D. E. Shaw & Co., Inc. | 3,044,385 | $11.1M | 0.0% | +1,421,104 |
| Citadel Advisors LLC | 2,704,505 | $9.9M | 0.0% | +1,412,019 |
| Vanguard Capital Management LLC | 2,697,216 | $9.9M | 0.0% | +4,268 |
| Jane Street Group, LLC | 2,217,498 | $8.1M | 0.0% | +1,907,081 |
| State Street Corp | 2,037,025 | $7.5M | 0.0% | +487,174 |
| Adage Capital Partners Gp, L.l.c. | 2,000,000 | $7.3M | 0.0% | +1,600,000 |
| GSK plc | 1,785,714 | $6.5M | 1.1% | No change |
| Qube Research & Technologies Ltd | 1,748,467 | $6.4M | 0.0% | +773,728 |
| Assenagon Asset Management S.A. | 1,670,408 | $6.1M | 0.0% | +476,535 |
| Renaissance Technologies LLC | 1,647,800 | $6.0M | 0.0% | +1,634,200 |
| ADAR1 Capital Management, LLC | 1,565,029 | $5.7M | 0.3% | +1,434,469 |
| Millennium Management LLC | 1,485,803 | $5.4M | 0.0% | +1,129,332 |
| Geode Capital Management, LLC | 1,432,133 | $5.2M | 0.0% | −54,409 |
| Marshall Wace, Llp | 1,358,423 | $5.0M | 0.0% | New |
| UBS Group AG | 1,253,909 | $4.6M | 0.0% | +938,724 |
| Susquehanna International Group, Llp | 1,180,946 | $4.3M | 0.0% | +1,079,610 |
| Aqr Capital Management LLC | 1,103,261 | $4.0M | 0.0% | +560,096 |
| Goldman Sachs Group Inc | 1,094,425 | $4.0M | 0.0% | +522,516 |
| Ikarian Capital, LLC | 1,049,161 | $3.8M | 0.6% | No change |
| Bank Of America Corp /de/ | 1,043,029 | $3.8M | 0.0% | +916,470 |
13F reports cover disclosed long positions in U.S. stocks only.
Links
- Websitewww.fulcrumtx.com1
- WikidataQ104481162
- SEC EDGARCIK 1680581
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 18SEC EDGARAlex Sapir, Officer
- 19SEC EDGARGreg Tourangeau, Controller
- 20
- 21
- 22SEC EDGARBryan Stuart, Officer
- 23
- 24SEC EDGARDiego Cadavid, Officer
- 25
- 26SEC EDGARPeter G. Thomson, Officer
- 27SEC EDGARRobert J. Gould, Officer
- 28SEC EDGARJoshua Lehrer-Graiwer, Board member
- 29SEC EDGARColin Hill, Board member
- 30SEC EDGARRachel K. King, Board member
- 31SEC EDGARSonja Banks, Board member
- 32SEC EDGARKatina Dorton, Board member
- 33SEC EDGARAlan Ezekowitz, Board member
- 34SEC EDGARJames A. Geraghty, Board member
- 35SEC EDGARKate Haviland, Board member
- 36SEC EDGARMark J. Levin, Board member
- 37SEC EDGARCurtis Gale Oltmans, General counsel