Short answer
Fulcrum Therapeutics, Inc. (FULC) filed its Q3 2025 10-Q quarterly report on Oct 29, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $0 with net income of −$20M.
Q3 2025 key financials · XBRL
- Revenue
- $0
- Net income
- −$20M
- +9.7% YoY · −13.3% QoQ
- EPS (diluted)
- −$0.31
- +8.8% YoY · −10.7% QoQ
Source: XBRL data from the Fulcrum Therapeutics, Inc. (FULC) Q3 2025 10-Q on SEC EDGAR. USD.
Fulcrum Therapeutics, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Quarterly revenue $0 vs $0 YoY, with no product sales and no collaboration revenue
- Net loss $19.6M vs $21.7M YoY; operating loss $21.9M vs $25.1M
- Pociredir R&D spending $5.4M vs $2.2M YoY, strongest program investment
- Cash, equivalents, and marketable securities $200.6M; operating cash flow $(43.3)M vs $14.5M
- Management expects funding into 2028; 20 mg cohort data expected by year-end 2025 and IND filing in Q4 2025
Risk Factors
- Newly triggered tax risk: OBBBA enacted July 4, 2025, with foreign R&D expenses still amortized over 15 years
- Most material pipeline change: losmapimod development suspended after Phase 3 REACH missed its primary endpoint in September 2024
- Regulatory risk: FDA clinical holds or stricter enrollment criteria could delay pociredir’s Phase 1b SCD trial
- Operational risk: pociredir is the only product candidate currently in active clinical development
- Financial risk: $200.6 million in cash, equivalents, and marketable securities expected to fund operations into 2028
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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