Fulcrum Therapeutics (FULC) Up 65% In A Month, IPO Lockup Expires On Jan.14

(RTTNews) - Shares of Fulcrum Therapeutics Inc. (FULC) have gained 65 percent over the last one month as the Company progresses with its lead drug candidate Losmapimod in facioscapulohumeral dystrophy.

What is facioscapulohumeral dystrophy?

Facioscapulohumeral muscular dystrophy (FSHD) is a rare, progressive and disabling disease characterized by progressive skeletal muscle loss that initially causes weakness in muscles in the face, shoulders, arms and trunk, and progresses to weakness throughout the lower body.

The symptoms are first noticed in the muscles of the face and scapular region. There are no approved therapies for the muscle weakness associated with FSHD. There are two forms of FSHD - the most common type known as FSHD type 1 (FSHD1) and the less common form, which is FSHD type 2 (FSHD2).

Fulcrum's Losmapimod for the treatment of FSHD is under a phase IIb placebo-controlled 24-week clinical trial, referred to as ReDUX4, and in a phase II open-label 52-week study.

Initiated in August 2019, the ReDUX4 trial is designed to enroll 66 patients and clinical data are expected in the third quarter of 2020.

The phase II open-label 52-week study was also initiated last August. But this trial is designed to enroll 16 patients and clinical data is expected in *December 2020. (Source:ClinicalTrials.gov)

Next up in the pipeline is FTX-6058 for the potential treatment of sickle cell disease and beta-thalassemia, which is currently in preclinical testing. Fulcrum anticipates filing an IND for FTX-6058 in mid-2020.

The Company also has a couple of compounds in the discovery stage for Duchenne Muscular Dystrophy, Friedreich Ataxia, Myotonic Dystrophy 1 and a-Synucleinopathies.

Balance Sheet:

The Company's net loss attributable to common stockholders for the third quarter of 2019 was $17.34 million or $0.97 per share compared to a net loss attributable to common stockholders of $10.80 million or $8.08 per share for the third quarter of 2018.

No revenues have been generated to date.

The Company ended September 30, 2019, with cash and cash equivalents of $101.6 million.

Fulcrum went public on the Nasdaq Global Market on July 18, 2019, offering its shares at a price of $16 each. The stock has thus far hit a low of $4.37 and a high of $19.30.

FULC closed Wednesday's (Jan.8, 2020) trading at $18.15, up 8.23%.