Sunday, 25 August 2019 04:49 GMT

Fulcrum Readies for IPO

(MENAFN - Cambridge, Massachusetts-based Fulcrum Therapeutics, Inc. is planning a 4.5-million-share IPO at an estimated price range of $16-$18, according to the S-1/A filed with the SEC July 8.

At the midpoint of the price range, the proposed IPO is likely to fetch gross proceeds of $76.5 million.

The company has applied for listing its shares on the NASDAQ under the ticker symbol "FULC."

Morgan Stanley, Bank of America Merrill Lynch and SVB Leerink are the underwriters for the offering.

Fulcrum focuses on developing therapies for genetically defined diseases in areas of high unmet needs, with a specific focus on rare diseases. The company uses its product engine to identify targets that can be drugged by small molecules, regardless of the particular underlying mechanism of gene misexpression.

The company's website says Fulcrum has 'a patient-focused product engine designed to systematically identify and validate cellular drug targets that can modulate gene expression to treat the known root cause of genetically defined diseases.'

The company said it is planning to initiate a Phase 2b clinical trial of losmapimod, its product candidate for facioscapulohumeral muscular dystrophy, in mid-2019.

The company expects to submit an IND for FTX-HbF, its product candidate for sickle cell anemia, in mid-2020.

Fulcrum has yet to turn in revenues. The company reported a loss of $39.88 million for fiscal year 2019, wider than the year-ago loss of $7.77 million.

The loss for the three months ended March 2019 narrowed from $39.15 million to $25.37 million.


Fulcrum Readies for IPO

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