Fulcrum Therapeutics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $0 | $80.0M | $2.8M | $6.3M | $19.2M |
| Research and development | $56.1M | $63.4M | $71.8M | $76.8M | $69.7M |
| Operating expenses | $84.8M | $101.9M | $113.5M | $118.9M | $100.2M |
| Operating income | -$84.8M | -$21.9M | -$110.7M | -$112.6M | -$81.1M |
| Income tax expense | $0 | $0 | — | — | — |
| Net income | -$74.9M | -$9.7M | -$97.3M | -$109.9M | -$80.8M |
| Balance Sheet | |||||
| Cash and equivalents | $197.5M | $58.2M | $25.6M | $35.1M | $35.4M |
| Current assets | $357.5M | $249.9M | $242.2M | $207.5M | $226.0M |
| Total assets | $366.3M | $260.7M | $257.7M | $226.7M | $235.0M |
| Current liabilities | $13.0M | $11.0M | $13.7M | $16.7M | $19.2M |
| Total liabilities | $17.3M | $17.7M | $22.5M | $27.7M | $23.5M |
| Stockholders' equity | $349.0M | $243.0M | $235.2M | $198.9M | $211.5M |
| Cash Flow Statement | |||||
| Cash from operations | -$60.1M | -$2.2M | -$91.0M | -$97.0M | -$78.5M |
| Depreciation and amortization | $1.4M | $1.6M | $2.2M | $2.4M | $2.5M |
| Stock-based compensation | $12.5M | $14.6M | $14.8M | $13.3M | $11.1M |
| Capital expenditure | $314,000 | $278,000 | $508,000 | $2.0M | $1.7M |
| Free cash flow | -$60.4M | -$2.5M | -$91.5M | -$99.0M | -$80.2M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 66.6M · Free float 75.9%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.