FULCFulcrum Therapeutics, Inc.
Pharmaceutical Preparations
- Revenue
- $0
- 100% YoY
- Operating margin
- —
- EBITDA
- −$83M
- 311% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear—Over 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $19M | $6M | $3M | $80M | $0 | 100% |
| Operating income | −$81M | −$113M | −$111M | −$22M | −$85M | 287% |
| Net income | −$81M | −$110M | −$97M | −$10M | −$75M | 670% |
| Operating cash flow | −$78M | −$97M | −$91M | −$2M | −$60M | 2608% |
| Capex | $2M | $2M | $508K | $278K | $314K | 13% |
| Stock-based comp | $11M | $13M | $15M | $15M | $12M | 14% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 15536 | — |
| FY2024 | — | — | 6456 | — |
| FY2023 | — | — | 9272 | — |