(FULC) Fulcrum Therapeutics - Overview
Stock: Pociredir, Losmapimod, Fetal Hemoglobin Inducers, Preclinical Candidates
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 84.5% |
| Relative Tail Risk | -17.3% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.40 |
| Alpha | 131.58 |
| Character TTM | |
|---|---|
| Beta | 1.163 |
| Beta Downside | 1.482 |
| Drawdowns 3y | |
|---|---|
| Max DD | 82.55% |
| CAGR/Max DD | -0.10 |
Description: FULC Fulcrum Therapeutics December 28, 2025
Fulcrum Therapeutics (NASDAQ: FULC) is a clinical-stage biopharma focused on small-molecule therapies for genetically defined disorders with high unmet need in the U.S. Its lead candidate, pociredir, is a fetal-hemoglobin inducer currently in a Phase 1b trial for sickle-cell disease and β-thalassemia. The firm also pursues preclinical programs targeting inherited aplastic anemias (e.g., Diamond-Blackfan, Shwachman-Diamond, Fanconi), novel fetal-hemoglobin inducers, fibrotic diseases, and cardiomyopathies, and holds collaborations with MyoKardia, CAMP4, and Sanofi (the latter for losmapimod in facioscapulohumeral muscular dystrophy). The company was incorporated in 2015 and is headquartered in Cambridge, Massachusetts.
Key quantitative context (as of the latest 10-Q filing, Q2 2024): • Cash and marketable securities ≈ $210 million, giving roughly 18 months of runway at current burn (~$12 million / quarter). • Market capitalization ≈ $1.1 billion, implying a price-to-cash-burn multiple of ~5×. • R&D spend for the quarter was $11.3 million, representing ~45 % of total operating expenses, underscoring the heavy investment in pipeline advancement. Sector drivers include robust venture funding for rare-disease biotech (U.S. biotech VC capital reached $38 billion in 2023) and a historically low success rate (~30 %) from Phase 1b to Phase 2 for novel small-molecule hematology agents, which adds execution risk to Fulcrum’s lead program.
If you want a more granular, data-driven valuation of Fulcrum’s upside and downside scenarios, the ValueRay platform’s detailed financial models can provide a useful next step.
Piotroski VR‑10 (Strict, 0-10) 0.0
| Net Income: -71.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.28 > 0.02 and ΔFCF/TA -24.99 > 1.0 |
| NWC/Revenue: 242.8% < 20% (prev 312.8%; Δ -70.03% < -1%) |
| CFO/TA -0.28 > 3% & CFO -60.0m > Net Income -71.1m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 17.70 > 1.5 & < 3 |
| Outstanding Shares: last quarter (62.6m) vs 12m ago 0.30% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 32.40% > 50% (prev 28.99%; Δ 3.41% > 0%) |
| Interest Coverage Ratio: -26.88 > 6 (EBITDA TTM -72.5m / Interest Expense TTM -2.75m) |
Altman Z'' -15.00
| A: 0.90 (Total Current Assets 205.9m - Total Current Liabilities 11.6m) / Total Assets 214.9m |
| B: -2.67 (Retained Earnings -573.9m / Total Assets 214.9m) |
| C: -0.30 (EBIT TTM -73.9m / Avg Total Assets 246.9m) |
| D: -34.78 (Book Value of Equity -573.6m / Total Liabilities 16.5m) |
| Altman-Z'' Score: -41.31 = D |
Beneish M -3.21
| DSRI: 0.92 (Receivables 3.34m/3.66m, Revenue 80.0m/80.9m) |
| GMI: 0.78 (GM 99.16% / 77.44%) |
| AQI: 1.23 (AQ_t 0.01 / AQ_t-1 0.00) |
| SGI: 0.99 (Revenue 80.0m / 80.9m) |
| TATA: -0.05 (NI -71.1m - CFO -60.0m) / TA 214.9m) |
| Beneish M-Score: -3.21 (Cap -4..+1) = AA |
What is the price of FULC shares?
Over the past week, the price has changed by -9.23%, over one month by -2.50%, over three months by +27.32% and over the past year by +154.31%.
Is FULC a buy, sell or hold?
- StrongBuy: 2
- Buy: 1
- Hold: 3
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the FULC price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 19.1 | 96.1% |
| Analysts Target Price | 19.1 | 96.1% |
| ValueRay Target Price | 10.3 | 6.2% |
FULC Fundamental Data Overview February 02, 2026
P/B = 3.5718
Revenue TTM = 80.0m USD
EBIT TTM = -73.9m USD
EBITDA TTM = -72.5m USD
Long Term Debt = 7.01m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 2.35m USD (from shortTermDebt, last quarter)
Debt = 7.01m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -40.1m USD (from netDebt column, last quarter)
Enterprise Value = 514.2m USD (707.9m + Debt 7.01m - CCE 200.6m)
Interest Coverage Ratio = -26.88 (Ebit TTM -73.9m / Interest Expense TTM -2.75m)
EV/FCF = -8.51x (Enterprise Value 514.2m / FCF TTM -60.4m)
FCF Yield = -11.75% (FCF TTM -60.4m / Enterprise Value 514.2m)
FCF Margin = -75.52% (FCF TTM -60.4m / Revenue TTM 80.0m)
Net Margin = -88.89% (Net Income TTM -71.1m / Revenue TTM 80.0m)
Gross Margin = unknown ((Revenue TTM 80.0m - Cost of Revenue TTM 669.0k) / Revenue TTM)
Tobins Q-Ratio = 2.39 (Enterprise Value 514.2m / Total Assets 214.9m)
Interest Expense / Debt = 45.09% (Interest Expense 3.16m / Debt 7.01m)
Taxrate = 21.0% (US default 21%)
NOPAT = -58.4m (EBIT -73.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 17.70 (Total Current Assets 205.9m / Total Current Liabilities 11.6m)
Debt / Equity = 0.04 (Debt 7.01m / totalStockholderEquity, last quarter 198.4m)
Debt / EBITDA = 0.55 (negative EBITDA) (Net Debt -40.1m / EBITDA -72.5m)
Debt / FCF = 0.66 (negative FCF - burning cash) (Net Debt -40.1m / FCF TTM -60.4m)
Total Stockholder Equity = 221.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -28.80% (Net Income -71.1m / Total Assets 214.9m)
RoE = -32.17% (Net Income TTM -71.1m / Total Stockholder Equity 221.1m)
RoCE = -32.38% (EBIT -73.9m / Capital Employed (Equity 221.1m + L.T.Debt 7.01m))
RoIC = -26.40% (negative operating profit) (NOPAT -58.4m / Invested Capital 221.1m)
WACC = 10.45% (E(707.9m)/V(714.9m) * Re(10.20%) + D(7.01m)/V(714.9m) * Rd(45.09%) * (1-Tc(0.21)))
Discount Rate = 10.20% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.58%
Fair Price DCF = unknown (Cash Flow -60.4m)
EPS Correlation: 47.52 | EPS CAGR: 42.53% | SUE: 0.99 | # QB: 1
Revenue Correlation: -34.19 | Revenue CAGR: -67.92% | SUE: 0.0 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.29 | Chg30d=-0.002 | Revisions Net=+3 | Analysts=8
EPS next Year (2026-12-31): EPS=-1.22 | Chg30d=-0.017 | Revisions Net=+3 | Growth EPS=-4.0% | Growth Revenue=+0.0%