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FULC logoFulcrum Therapeutics, Inc.(FULC)Earnings, Financials & Key Ratios

FULC•NASDAQ
$7.11
$385M mkt cap·Price updated May 6, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryCommercial Rare Disease Biopharma
AboutFulcrum Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States. Its product candidates are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy; and FTX-6058, an investigational oral fetal hemoglobin inducer for the treatment of sickle cell disease and other hemoglobinopathies, including beta-thalassemia. The company is also discovering drug targets for the treatments of rare neuromuscular, muscular, central nervous system, and hematologic disorders, as well as cardiomyopathies and pulmonary diseases. Fulcrum Therapeutics, Inc. has research and discovery collaboration agreement with Acceleron Pharma Inc. to identify biological targets to modulate specific pathways associated with a targeted indication within the pulmonary disease space; and has a strategic collaboration and license agreement with MyoKardia, Inc. to discover, develop, and commercialize novel targeted therapies for the treatment of genetic cardiomyopathies. Fulcrum Therapeutics, Inc. was Incorporated in 2015 and is headquartered in Cambridge, Massachusetts.Show more
  • Revenue$0-100.0%
  • EBITDA-$83M-310.7%
  • Net Income-$75M-670.0%
  • EPS (Diluted)-1.18-637.5%
  • ROE-25.3%-522.0%
  • ROIC-36.19%-356.0%
  • Debt/Equity0.02-48.0%
Technical→

FULC Key Insights

Fulcrum Therapeutics, Inc. (FULC) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Trading at only 1.3x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

FULC Price & Volume

Fulcrum Therapeutics, Inc. (FULC) stock price & volume — 10-year historical chart

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FULC Growth Metrics

Fulcrum Therapeutics, Inc. (FULC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-
TTM-100%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-14824.71%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-1542.86%

Return on Capital

10 Years-209.46%
5 Years-37.9%
3 Years-28.58%
Last Year-28.12%

FULC Recent Earnings

Fulcrum Therapeutics, Inc. (FULC) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 3/12 qtrs (75%)
Q2 2026Latest
Apr 27, 2026
EPS
$0.25
Est $0.31
+19.4%
Revenue
—
Q1 2026
Feb 24, 2026
EPS
$0.31
Est $0.31
+0.0%
Revenue
—
Q4 2025
Oct 29, 2025
EPS
$0.31
Est $0.29
-6.9%
Revenue
—
Q3 2025
Jul 29, 2025
EPS
$0.28
Est $0.29
+3.4%
Revenue
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 27, 2026
$0.25vs $0.31+19.4%
—
Q1 2026Feb 24, 2026
$0.31vs $0.31+0.0%
—
Q4 2025Oct 29, 2025
$0.31vs $0.29-6.9%
—
Q3 2025Jul 29, 2025
$0.28vs $0.29+3.4%
—
Based on last 12 quarters of dataView full earnings history →

FULC Peer Comparison

Fulcrum Therapeutics, Inc. (FULC) competitors in Commercial Rare Disease Biopharma — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ARWR logoARWRArrowhead Pharmaceuticals, Inc.Direct Competitor11.08B79.14-6486.89232.58%18.54%35.64%0.73
SRPT logoSRPTSarepta Therapeutics, Inc.Direct Competitor2.42B23.03-3.2315.58%2.98%4.89%0.91
FOLD logoFOLDAmicus Therapeutics, Inc.Direct Competitor4.47B14.49-80.5032.29%-2.35%-6.1%2.29
RARE logoRAREUltragenyx Pharmaceutical Inc.Direct Competitor2.55B25.93-4.4520.13%-91.03%-6.08%
CRSP logoCRSPCRISPR Therapeutics AGDirect Competitor5.31B55.08-8.51-89.97%-138.57%-30.88%0.21
EDIT logoEDITEditas Medicine, Inc.Product Competitor310.73M3.18-1.76-100%-5.23%0.66
BEAM logoBEAMBeam Therapeutics Inc.Product Competitor3.32B32.33-39.92120.01%-57.24%-7.31%0.24
NTLA logoNTLAIntellia Therapeutics, Inc.Product Competitor1.61B13.85-3.64-100%-61.47%0.14

Compare FULC vs Peers

Fulcrum Therapeutics, Inc. (FULC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARWR

Most directly comparable listed peer for FULC.

Scale Benchmark

vs IQV

Larger-name benchmark to compare FULC against a more recognizable public peer.

Peer Set

Compare Top 5

vs ARWR, SRPT, FOLD, RARE

FULC Income Statement

Fulcrum Therapeutics, Inc. (FULC) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue0008.82M19.16M6.34M2.81M80M00
Revenue Growth %----117.19%-66.91%-55.77%2752.05%-100%-100%
Cost of Goods Sold715K1.34M2.05M59.04M69.7M76.78M063.39M1.39M0
COGS % of Revenue---669.18%363.73%1210.69%-79.23%--
Gross Profit
-715K▲ 0%
-1.34M▼ 88.1%
-2.05M▼ 52.6%
-50.22M▼ 2346.1%
-50.54M▼ 0.6%
-70.44M▼ 39.4%
2.81M▲ 104.0%
16.61M▲ 492.3%
-1.39M▼ 108.4%
0▲ 0%
Gross Margin %----569.18%-263.73%-1110.69%100%20.77%--
Gross Profit Growth %--88.11%-52.64%-2346.13%-0.64%-39.38%103.98%492.3%-108.37%-
Operating Expenses22.99M33.5M56.57M21.39M30.52M42.12M113.47M38.51M83.38M86.55M
OpEx % of Revenue---242.46%159.24%664.16%4045.24%48.14%--
Selling, General & Admin4.5M8.31M13.14M21.39M30.52M41.69M41.67M36.45M28.67M29.77M
SG&A % of Revenue---242.46%159.24%657.43%1485.49%45.56%--
Research & Development18.49M25.18M43.43M59.04M69.7M76.78M71.8M63.39M56.1M56.78M
R&D % of Revenue---669.18%363.73%1210.69%2559.75%79.23%--
Other Operating Expenses28K392K0-59.04M-69.7M-76.36M0-61.32M-1.39M0
Operating Income
-22.99M▲ 0%
-33.5M▼ 45.7%
-58.63M▼ 75.0%
-71.61M▼ 22.1%
-81.05M▼ 13.2%
-112.56M▼ 38.9%
-110.66M▲ 1.7%
-21.9M▲ 80.2%
-84.77M▼ 287.1%
-86.55M▲ 0%
Operating Margin %----811.64%-422.97%-1774.85%-3945.24%-27.37%--
Operating Income Growth %--45.69%-75.01%-22.15%-13.19%-38.87%1.69%80.21%-287.13%-
EBITDA-22.28M-32.15M-56.57M-69.23M-78.54M-110.15M-108.49M-20.3M-83.38M-85.52M
EBITDA Margin %----784.68%-409.85%-1736.79%-3867.81%-25.38%--
EBITDA Growth %--44.33%-75.95%-22.38%-13.44%-40.24%1.5%81.29%-310.65%-677.48%
D&A (Non-Cash Add-back)715K1.34M2.05M2.38M2.52M2.41M2.17M1.59M1.39M1.04M
EBIT-22.99M-33.5M-82.68M-71.61M-81.05M-112.13M-110.66M-19.83M-74.88M-57.23M
Net Interest Income001.51M792K207K00000
Interest Income001.51M792K207K00000
Interest Expense0000000000
Other Income/Expense29K910K-24.05M792K207K2.69M13.33M12.17M9.89M10.44M
Pretax Income
-22.96M▲ 0%
-32.59M▼ 41.9%
-82.68M▼ 153.7%
-70.82M▲ 14.3%
-80.85M▼ 14.2%
-109.87M▼ 35.9%
-97.33M▲ 11.4%
-9.72M▲ 90.0%
-74.88M▼ 670.0%
-76.12M▲ 0%
Pretax Margin %----802.66%-421.89%-1732.43%-3470.05%-12.16%--
Income Tax-1K000000000
Effective Tax Rate %0%0%0%0%0%0%0%0%0%0%
Net Income
-22.96M▲ 0%
-32.59M▼ 41.9%
-82.68M▼ 153.7%
-70.82M▲ 14.3%
-80.85M▼ 14.2%
-109.87M▼ 35.9%
-97.33M▲ 11.4%
-9.72M▲ 90.0%
-74.88M▼ 670.0%
-76.12M▲ 0%
Net Margin %----802.66%-421.89%-1732.43%-3470.05%-12.16%--
Net Income Growth %--41.91%-153.7%14.34%-14.16%-35.9%11.41%90.01%-669.97%-14824.71%
Net Income (Continuing)-22.96M-32.59M-82.68M-70.82M-80.85M-109.87M-97.33M-9.72M-74.88M-76.12M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)
-1.36▲ 0%
-1.92▼ 41.2%
-3.49▼ 81.8%
-2.70▲ 22.6%
-2.22▲ 17.8%
-2.35▼ 5.9%
-1.59▲ 32.3%
-0.16▲ 89.9%
-1.18▼ 637.5%
-1.00▲ 0%
EPS Growth %--41.18%-81.77%22.64%17.78%-5.86%32.34%89.94%-637.5%-1542.86%
EPS (Basic)-1.36-1.92-3.49-2.70-2.22-2.35-1.59-0.16-1.18-
Diluted Shares Outstanding16.94M16.94M22.66M25.35M35.36M44.99M61.31M61.98M63.35M76.22M
Basic Shares Outstanding16.94M16.94M22.66M25.35M35.36M44.99M61.31M61.98M63.35M76.22M
Dividend Payout Ratio----------

FULC Balance Sheet

Fulcrum Therapeutics, Inc. (FULC) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets1.34M74.09M100.08M112.91M226M207.52M242.2M249.92M357.48M338.67M
Cash & Short-Term Investments407K72.8M96.71M112.91M218.16M202.92M236.22M241.02M352.31M333.32M
Cash Only407K72.8M96.71M57.05M35.41M35.1M25.56M58.21M197.53M50.26M
Short-Term Investments00055.86M182.75M167.82M210.66M182.81M154.77M283.06M
Accounts Receivable39K501K111K2.71M4.11M1.08M2.25M3.34M1.07M0
Days Sales Outstanding---111.9978.2862.21292.6515.25--
Inventory734K559K2.98M-2.78M-473K00000
Days Inventory Outstanding374.7151.7528.92-------
Other Current Assets248K238K284K74K00005.17M5.35M
Total Non-Current Assets3M11.68M10.36M16.66M9M19.17M15.49M10.79M8.8M8.1M
Property, Plant & Equipment2.94M10.55M87.94M8.4M7.37M15.97M12.39M9.58M7.07M6.35M
Fixed Asset Turnover---1.05x2.60x0.40x0.23x8.35x-0.00x
Goodwill0000000000
Intangible Assets0000000000
Long-Term Investments01.09M1.09M1.09M1.09M1.09M0000
Other Non-Current Assets60K38K-78.68M7.17M542K2.1M3.1M1.21M1.74M5.91M
Total Assets
4.34M▲ 0%
85.77M▲ 1876.3%
110.44M▲ 28.8%
129.58M▲ 17.3%
235M▲ 81.4%
226.69M▼ 3.5%
257.69M▲ 13.7%
260.72M▲ 1.2%
366.28M▲ 40.5%
346.77M▲ 0%
Asset Turnover---0.07x0.08x0.03x0.01x0.31x-0.00x
Asset Growth %-1876.29%28.76%17.33%81.36%-3.54%13.68%1.17%40.49%38.18%
Total Current Liabilities2.79M4.23M12.14M26.73M19.2M16.73M13.68M11.04M13.05M9.86M
Accounts Payable1.67M1.26M2.19M4.08M4.79M3.64M2.76M1.16M1.59M2.45M
Days Payables Outstanding854.05342.75388.6525.2225.0717.29-6.7418.04-
Short-Term Debt000002.6M002.4M2.46M
Deferred Revenue (Current)02.8M3.99M14.91M4.71M934K0000
Other Current Liabilities20K781K3.68M4.79M4.71M5.34M396K463K9.05M4.95M
Current Ratio0.48x17.52x8.24x4.23x11.77x12.41x17.71x22.63x27.40x27.40x
Quick Ratio0.22x17.39x8.00x4.33x11.80x12.41x17.71x22.63x27.40x27.40x
Cash Conversion Cycle----------
Total Non-Current Liabilities233K5.54M11.15M7.67M4.26M11.02M8.83M6.64M4.24M3.6M
Long-Term Debt34.59M00000004.04M3.41M
Capital Lease Obligations0000010.82M8.63M6.44M09.94M
Deferred Tax Liabilities0000000000
Other Non-Current Liabilities-34.35M5.54M5.13M4.7M4.26M0197K197K197K788K
Total Liabilities3.02M9.77M23.29M34.4M23.46M27.74M22.5M17.68M17.28M13.47M
Total Debt34.59M46K50K17K013.42M10.82M8.63M6.44M5.87M
Net Debt34.18M-72.75M-96.66M-57.03M-35.41M-21.68M-14.74M-49.58M-191.09M-44.39M
Debt / Equity26.16x0.00x0.00x0.00x-0.07x0.05x0.04x0.02x0.02x
Debt / EBITDA----------0.07x
Net Debt / EBITDA---------0.52x
Interest Coverage----------
Total Equity
1.32M▲ 0%
76M▲ 5648.9%
87.15M▲ 14.7%
95.18M▲ 9.2%
211.54M▲ 122.2%
198.94M▼ 6.0%
235.19M▲ 18.2%
243.03M▲ 3.3%
349M▲ 43.6%
333.3M▲ 0%
Equity Growth %-5648.87%14.67%9.21%122.25%-5.95%18.22%3.33%43.6%44.87%
Book Value per Share0.084.493.853.755.984.423.843.925.514.37
Total Shareholders' Equity1.32M76M87.15M95.18M211.54M198.94M235.19M243.03M349M333.3M
Common Stock1K16K23K28K41K52K62K54K67K67K
Retained Earnings-35.54M-68.12M-150.8M-221.62M-302.47M-412.34M-509.67M-519.4M-594.28M-613.17M
Treasury Stock0000000000
Accumulated OCI-893K-1.96M-110.44M-2K-397K-797K-136K130K0-513K
Minority Interest0000000000

FULC Cash Flow Statement

Fulcrum Therapeutics, Inc. (FULC) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations-20.07M-22.56M-39.48M-53.66M-78.48M-97.05M-90.97M-2.22M-60.06M-60.06M
Operating CF Margin %----608.13%-409.53%-1530.27%-3242.96%-2.77%--
Operating CF Growth %--12.39%-75%-35.89%-46.26%-23.67%6.27%97.56%-2608.07%-120.98%
Net Income-22.96M-32.59M-82.68M-70.82M-80.85M-109.87M-97.33M-9.72M-74.88M-76.12M
Depreciation & Amortization715K1.34M2.05M2.38M2.52M2.41M2.17M1.59M1.39M1.33M
Stock-Based Compensation1.37M2.16M4.22M7.35M11.07M13.35M14.8M14.55M12.47M9.8M
Deferred Taxes0001.93M000000
Other Non-Cash Items2.59M4.87M25.59M-2M673K152K-5.99M-4.39M-2.95M-2.71M
Working Capital Changes804K6.52M11.33M7.5M-11.89M-3.09M-4.61M-4.25M3.91M4.13M
Change in Receivables000-2M-500K2.5M-308K-1.56M2.1M979K
Change in Inventory000229K1.25M00000
Change in Payables208K-20K803K1.77M973K-1.18M-853K-1.59M428K943K
Cash from Investing-1.91M-8.98M-944K-57.14M-129.67M12.41M-36.69M32.23M30.72M-96.71M
Capital Expenditures-1.91M-8.98M-853K-1.34M-1.71M-1.96M-508K-278K-314K-322K
CapEx % of Revenue---15.21%8.94%30.95%18.11%0.35%--
Acquisitions00055.8M127.96M-14.38M0000
Investments----------
Other Investing00-91K-55.8M-127.96M14.38M0000
Cash from Financing17.66M105.03M64.34M71.13M186.51M84.32M118.12M2.75M168.67M168.35M
Debt Issued (Net)0-70K-45K-50K-18K00000
Equity Issued (Net)0105.08M64.14M69.95M182.86M80.8M117.34M2.75M168.67M168.67M
Dividends Paid0000000000
Share Repurchases0000000000
Other Financing17.66M12K249K1.24M3.67M3.52M777K00-312K
Net Change in Cash
-4.32M▲ 0%
73.48M▲ 1801.0%
23.92M▼ 67.5%
-39.66M▼ 265.8%
-21.64M▲ 45.4%
-314K▲ 98.5%
-9.54M▼ 2936.6%
32.76M▲ 443.6%
139.32M▲ 325.3%
8.09M▲ 0%
Free Cash Flow
-21.98M▲ 0%
-31.54M▼ 43.5%
-40.34M▼ 27.9%
-55M▼ 36.3%
-80.19M▼ 45.8%
-99.01M▼ 23.5%
-91.47M▲ 7.6%
-2.5M▲ 97.3%
-60.38M▼ 2319.0%
-63.88M▲ 0%
FCF Margin %----623.34%-418.47%-1561.23%-3261.07%-3.12%--
FCF Growth %--43.49%-27.88%-36.35%-45.81%-23.47%7.62%97.27%-2319.03%-945.09%
FCF per Share-1.30-1.86-1.78-2.17-2.27-2.20-1.49-0.04-0.95-0.95
FCF Conversion (FCF/Net Income)0.87x0.69x0.48x0.76x0.97x0.88x0.93x0.23x0.80x0.84x
Interest Paid0000000000
Taxes Paid0000000000

FULC Key Ratios

Fulcrum Therapeutics, Inc. (FULC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric20182019202020212022202320242025TTM
Return on Equity (ROE)-84.29%-101.35%-77.68%-52.72%-53.53%-44.84%-4.07%-25.3%-27.8%
Return on Invested Capital (ROIC)-129.67%--375.11%-56.74%-47.78%-41.74%-7.94%-36.19%-36.19%
Gross Margin---569.18%-263.73%-1110.69%100%20.77%--
Net Margin---802.66%-421.89%-1732.43%-3470.05%-12.16%--
Debt / Equity0.00x0.00x0.00x-0.07x0.05x0.04x0.02x0.02x
FCF Conversion0.69x0.48x0.76x0.97x0.88x0.93x0.23x0.80x0.84x
Revenue Growth---117.19%-66.91%-55.77%2752.05%-100%-100%

FULC SEC Filings & Documents

Fulcrum Therapeutics, Inc. (FULC) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 27, 2026·SEC

Material company update

Feb 24, 2026·SEC

Material company update

Jan 12, 2026·SEC

10-K Annual Reports

4
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 25, 2025·SEC

FY 2024

Feb 27, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Apr 27, 2026·SEC

FY 2025

Oct 29, 2025·SEC

FY 2025

Jul 29, 2025·SEC

FULC Frequently Asked Questions

Fulcrum Therapeutics, Inc. (FULC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Fulcrum Therapeutics, Inc. (FULC) saw revenue decline by 100.0% over the past year.

Fulcrum Therapeutics, Inc. (FULC) reported a net loss of $76.1M for fiscal year 2025.

Dividend & Returns

Fulcrum Therapeutics, Inc. (FULC) has a return on equity (ROE) of -25.3%. Negative ROE indicates the company is unprofitable.

Fulcrum Therapeutics, Inc. (FULC) had negative free cash flow of $63.9M in fiscal year 2025, likely due to heavy capital investments.

Explore More FULC

Fulcrum Therapeutics, Inc. (FULC) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

→
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