Fulcrum Therapeutics Inc. Common Stock (FULC)

FairStock Score: 32/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for understandable businesses with durable earning power. Fulcrum is not that today. It is a clinical-stage biotech with no marketed product and one main candidate, pociredir, in phase 1b for sickle cell disease and beta-thalassemia. In fiscal Q2 2026, the quarter ended 2026-06-30, it reported no revenue and a net loss of $26.2 million, or $0.34 per diluted share. In fiscal Q1 2026, ended 2026-03-31, the net loss was $18.9 million. For FY2025, ended 2025-12-31, the net loss was $74.9 million, compared with a FY2024 net loss of $9.7 million on $80.0 million of revenue. That revenue looks non-recurring; FY2023 revenue was only $2.8 million, and FY2025 revenue was not reported. Trailing free cash flow was negative $66.1 million, a FairStock-calculated FCF yield of -23.6%. The balance sheet has little debt, D/E 0.02, and FairStock's P/B is 0.90 at the $3.68 close on 2026-10-13. But Piotroski is 1/9 and Altman Z is 11.10. No Lynch category fits because of four straight loss years. There is no moat: no approved product, no pricing power, no recurring revenue. The stock may look cheap against book value, but cash burn eats book value. This is a binary scientific speculation, not a Graham-style margin-of-safety investment.

In plain English: Fulcrum Therapeutics is a small clinical-stage biotech with nine employees. It has no approved product and is testing a drug candidate called pociredir for sickle cell disease and beta-thalassemia. The company has lost money for four straight years and is burning cash, so despite a low price compared with its accounting net assets, the business looks weak and highly speculative.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer