Fulcrum Therapeutics, Inc.
FULC- Exchange
- Nasdaq
- Industry
- Pharmaceutical Preparations
- SEC CIK
- 0001680581
No open-market purchases or sales by Fulcrum Therapeutics, Inc. insiders were filed in the last 90 days; 154 institutions reported holding it in 13F filings for Q2 2026, worth $291.3M in total; no superinvestor holds it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 8, 2026, 1:56 PM ET
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K/A | 10-K/A |
| Reported | Jan 12, 2026 | Jan 13, 2025 | Feb 27, 2024 | Jan 4, 2023 | Jan 10, 2022 |
| Revenue | $0 | $80.0M | $2.81M | $6.34M | $19.2M |
| Operating expenses | $84.8M | $101.9M | $113.5M | $118.9M | $100.2M |
| Research and development | $56.1M | $63.4M | $71.8M | $76.8M | $69.7M |
| Selling, general and administrative | $28.7M | $36.4M | $41.7M | $41.7M | $30.5M |
| Operating income | -$84.8M | -$21.9M | -$110.7M | -$112.6M | -$81.1M |
| Income tax | $0 | – | – | – | – |
| Net income | -$74.9M | -$9.72M | -$97.3M | -$109.9M | -$80.8M |
| EPS, basic | $-1.18 | $-0.16 | $-1.59 | $-2.44 | $-2.29 |
| EPS, diluted | $-1.18 | $-0.16 | $-1.59 | $-2.44 | $-2.29 |
| Weighted shares, basic | 63.4K | 62.0K | 61.3K | 45.0K | 35.4K |
| Weighted shares, diluted | 63.4K | 62.0K | 61.3K | 45.0K | 35.4K |
| Margins and growth | |||||
| Operating margin | – | -27.4% | -3945.2% | -1774.9% | -423.0% |
| Net margin | – | -12.2% | -3470.1% | -1732.4% | -421.9% |
| Revenue growth, year over year | −100.0% | +2,752.0% | −55.8% | −66.9% | +117.2% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K/A | 10-K/A |
| Reported | Jan 12, 2026 | Jan 13, 2025 | Feb 27, 2024 | Jan 4, 2023 | Jan 10, 2022 |
| Cash and equivalents | $197.5M | $58.2M | $25.6M | $35.1M | $35.4M |
| Total current assets | $357.5M | $249.9M | $242.2M | $207.5M | $226.0M |
| Property, plant and equipment | $2.82M | $3.90M | $5.22M | $6.91M | $7.37M |
| Total assets | $366.3M | $260.7M | $257.7M | $226.7M | $235.0M |
| Accounts payable | $1.59M | $1.16M | $2.76M | $3.64M | $4.79M |
| Total current liabilities | $13.0M | $11.0M | $13.7M | $16.7M | $19.2M |
| Total liabilities | $17.3M | $17.7M | $22.5M | $27.7M | $23.5M |
| Shareholders' equity | $349.0M | $243.0M | $235.2M | $198.9M | $211.5M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K/A | 10-K/A |
| Reported | Jan 12, 2026 | Jan 13, 2025 | Feb 27, 2024 | Jan 4, 2023 | Jan 10, 2022 |
| Operating cash flow | -$60.1M | -$2.22M | -$91.0M | -$97.0M | -$78.5M |
| Capital expenditures | $314.0K | $278.0K | $508.0K | $1.96M | $1.71M |
| Free cash flow | -$60.4M | -$2.50M | -$91.5M | -$99.0M | -$80.2M |
| Stock-based compensation | $12.5M | $14.6M | $14.8M | $13.3M | $11.1M |
| Investing cash flow | $30.7M | $32.2M | -$36.7M | $12.4M | -$129.7M |
| Financing cash flow | $168.7M | $2.75M | $118.1M | $84.3M | $186.5M |
| Net change in cash | $139.3M | $32.8M | -$9.54M | -$314.0K | -$21.6M |
| Ratio | |||||
| Stock-based compensation, % of revenue | – | 18.2% | 527.7% | 210.5% | 57.8% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Jul 23, 2026 | 76.3M | +41.1% | SEC |
| Apr 20, 2026 | 66.6M | +23.4% | SEC |
| Feb 17, 2026 | 66.6M | +23.4% | SEC |
| Oct 22, 2025 | 54.1M | +0.3% | SEC |
| Jul 22, 2025 | 54.1M | −13.3% | SEC |
| Apr 24, 2025 | 54.0M | −13.2% | SEC |
| Feb 18, 2025 | 54.0M | −12.8% | SEC |
| Nov 6, 2024 | 53.9M | −12.8% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.