Fulcrum Therapeutics reported its third quarter 2024 financial results, ending the quarter with $257.2 million in cash, cash equivalents, and marketable securities as of September 30, 2024. The company projects this capital will be sufficient to fund its operating requirements into at least 2027.
For the third quarter of 2024, Fulcrum reported a net loss of $21.7 million, an improvement from a net loss of $24.0 million in the same period of 2023. Collaboration revenue for the quarter was $0, compared to $759,000 in Q3 2023, reflecting the termination of the Sanofi agreement.
Research and development expenses decreased to $14.6 million from $18.2 million in Q3 2023, while general and administrative expenses also saw a reduction to $8.4 million from $9.9 million. The company incurred $2.063 million in restructuring expenses during the quarter, related to its strategic realignment. Fulcrum expects its cash burn for the full year 2025 to be approximately $55.0 million to $65.0 million.
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