Fulcrum Therapeutics, Inc.

Fulcrum Therapeutics, Inc. has entered into a merger agreement with Slate Medicines, Inc., with the transaction expected to close in the fourth quarter of 2026, pending stockholder approval and other conditions. The company also plans to declare a cash dividend of $275 million to its pre-Merger stockholders. In preparation for the merger, Fulcrum has ceased development of its pociredir program and implemented a significant restructuring, including an 85% workforce reduction. The company reported a net loss of $56.0 million for the nine months ended September 30, 2026, and had $306.5 million in cash, cash equivalents, and marketable securities as of that date.

Fulcrum Therapeutics, Inc. has entered into an asset purchase agreement to sell its early-stage fetal hemoglobin (HbF) assets to an unaffiliated third-party pharmaceutical company for approximately $7.0 million in cash. The closing of this asset sale is contingent upon the consummation of the proposed merger between Fulcrum and Slate Medicines, Inc. The proceeds are expected to be placed in escrow and will be credited towards Fulcrum's net cash for the merger, thereby increasing the anticipated cash dividend to be declared in connection with the merger.

Fulcrum Therapeutics announced that Greg Tourangeau's tenure as Vice President, Finance and principal accounting officer concluded on August 7, 2026, as previously agreed. Following his departure, the Board of Directors appointed Alan Musso, the company's chief financial officer and principal financial officer, to also serve as principal accounting officer, effective August 7, 2026. Mr. Musso will not receive additional compensation for this new role.

Fulcrum Therapeutics announced the discontinuation of its pociredir program for sickle cell disease following FDA concerns, leading to the cessation of all research and development activities. The company approved a significant restructuring plan, reducing its workforce by 85% to preserve capital. Concurrently, Fulcrum has initiated a comprehensive review of strategic alternatives to maximize stockholder value, including potential mergers or asset sales. For the six months ended June 30, 2026, the company reported an increased net loss of $(45.070) million, reflecting impairment and restructuring charges.

Fulcrum Therapeutics, Inc. approved cash retention payments for its nine remaining full-time employees, including key executives Alex C. Sapir (President and CEO), Curtis Oltmans (Chief Legal Officer), and Alan Musso (CFO), following a previously disclosed restructuring plan. These payments are contingent upon a Change in Control or termination without Cause, provided transitional duties are met. Additionally, the company extended "Change in Control" benefits to all remaining employees at the Vice President level and above. Separately, Greg Tourangeau, Vice President, Finance, and principal accounting officer, will depart from his position by mutual agreement.

Fulcrum Therapeutics, Inc. announced a significant restructuring plan, approved on May 31, 2026, to reduce operating expenses and preserve capital following the discontinuation of pociredir development for sickle cell disease. The plan involves an approximately 85% reduction in its workforce, from 57 to 9 full-time employees, and is expected to incur charges of about $4.2 million. Concurrently, Fulcrum has initiated a comprehensive review of strategic alternatives, including potential mergers, acquisitions, or asset sales, and has engaged Leerink Partners LLC as its financial advisor.

Fulcrum Therapeutics announced the discontinuation of its pociredir program for sickle cell disease following FDA feedback on potential malignancy risks, linking it to the global withdrawal of Tazverik®. The FDA concluded that all PRC2 complex inhibitors carry equivalent malignancy risk, leaving no viable regulatory path for pociredir. Consequently, Fulcrum has initiated a comprehensive review of strategic alternatives to maximize stockholder value and will significantly reduce operating expenses.

Fulcrum Therapeutics announced the discontinuation of its pociredir program for sickle cell disease (SCD) following FDA feedback. The FDA raised concerns about potential malignancy risk associated with PRC2 complex inhibition, citing issues with Tazverik®, another PRC2 inhibitor that was globally withdrawn. Despite pociredir showing robust elevations in fetal hemoglobin and being well-tolerated, the FDA's stance left no viable regulatory path. Consequently, Fulcrum will explore strategic alternatives to maximize stockholder value and is reducing operating expenses.

Fulcrum Therapeutics, Inc. granted 55,500 non-statutory stock options to two new employees as an inducement to employment, in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $7.02 per share, matching the closing price on the May 4, 2026 grant date. These options vest over four years, with 25% vesting on the first anniversary and the remainder in equal quarterly installments over the subsequent three years, subject to continued service.

Fulcrum Therapeutics, Inc. announced its 2026 Annual Meeting of Stockholders will be held virtually on June 24, 2026. Stockholders of record as of April 27, 2026, are eligible to vote on the election of three Class I directors, a non-binding advisory vote on executive compensation, and the ratification of Ernst & Young LLP as the independent auditor for 2026. The board of directors recommends voting in favor of all proposals.