Fulcrum Therapeutics(FULC) - 2024 Q3 - Quarterly Results

Financial Performance - As of September 30, 2024, Fulcrum Therapeutics reported cash, cash equivalents, and marketable securities of $257.2 million, an increase from$236.2 million as of December 31, 2023[4]. - Collaboration revenue for the third quarter of 2024 was zero, down from $0.8 million in the same period of 2023, due to the completion of research services under a prior collaboration agreement[4]. - Research and development expenses decreased to$14.6 million in Q3 2024 from $18.2 million in Q3 2023, primarily due to reimbursements from a collaboration with Sanofi[4]. - General and administrative expenses were$8.4 million for Q3 2024, down from $10.0 million in Q3 2023, attributed to reduced employee compensation costs following workforce reduction[4]. - The net loss for Q3 2024 was$21.7 million, compared to a net loss of $24.0 million in Q3 2023[4]. - Fulcrum expects to end 2024 with approximately$240.0 million in cash, cash equivalents, and marketable securities, with a projected cash burn of $55.0 million to$65.0 million for 2025[5]. Clinical Development - Patient enrollment and site activation are ongoing in the Phase 1b PIONEER trial of pociredir for sickle cell disease, with plans to share clinical data in 2025[3]. - Following the REACH trial results, Fulcrum has suspended development of losmapimod and is focusing on advancing pociredir and other novel therapeutic agents[3]. - Cohort 3 of the Phase 1b trial is evaluating pociredir at a 12 mg once daily dose, with plans for Cohort 4 at a 20 mg once daily dose, each enrolling up to 10 patients[3]. - Pociredir has received FDA Fast Track designation and Orphan Drug Designation for the treatment of sickle cell disease[8].