Fulcrum Therapeutics, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 04:41 pm IST
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Fulcrum Therapeutics, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 23.78 million compared to USD 34.07 million a year ago. Basic loss per share from continuing operations was USD 0.38 compared to USD 0.83 a year ago.
For the six months, net loss was USD 48.56 million compared to USD 60 million a year ago. Basic loss per share from continuing operations was USD 0.8 compared to USD 1.47 a year ago.
Fulcrum Therapeutics, Inc. is a clinical-stage biopharmaceutical company. The Company is focused on improving the lives of patients with genetically defined rare diseases in areas of high unmet medical need. The Companyâs clinical product candidate, losmapimod, is developed for the potential treatment of facioscapulohumeral muscular dystrophy (FSHD). Its other clinical product candidate is FTX-6058, which is developed for the treatment of certain hemoglobinopathies, including sickle cell disease (SCD). In addition to product candidate development, the Company has developed a drug discovery approach that it employs to systematically identify and validate cellular drug targets that can potentially modulate gene expression to treat known root causes of genetically defined rare diseases. The Company has developed pociredir, which is designed to elevate the level of fetal hemoglobin, or HbF, for the treatment of people with SCD.