$FULC
Fulcrum Therapeutics, Inc.

2024 Q4 Form 10-Q Financial Statement

#000095017024125931 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.424M
YoY Change -15.42%
% of Gross Profit
Research & Development $14.64M
YoY Change -19.73%
% of Gross Profit
Depreciation & Amortization $400.0K
YoY Change -20.0%
% of Gross Profit
Operating Expenses $25.13M
YoY Change -10.9%
Operating Profit -$25.13M
YoY Change -8.43%
Interest Expense $3.430M
YoY Change 0.2%
% of Operating Profit
Other Income/Expense, Net $3.430M
YoY Change 0.29%
Pretax Income -$21.70M
YoY Change -9.68%
Income Tax
% Of Pretax Income
Net Earnings -$21.70M
YoY Change -9.66%
Net Earnings / Revenue
Basic Earnings Per Share -$0.35
Diluted Earnings Per Share -$0.35
COMMON SHARES
Basic Shares Outstanding 53.94M 62.40M
Diluted Shares Outstanding 62.41M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $257.2M
YoY Change 0.06%
Cash & Equivalents $72.63M
Short-Term Investments $184.6M
Other Short-Term Assets $5.025M
YoY Change 35.81%
Inventory
Prepaid Expenses
Receivables $5.230M
Other Receivables $0.00
Total Short-Term Assets $267.5M
YoY Change 1.9%
LONG-TERM ASSETS
Property, Plant & Equipment $4.218M
YoY Change -25.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $76.00K
YoY Change -96.18%
Total Long-Term Assets $11.52M
YoY Change -29.72%
TOTAL ASSETS
Total Short-Term Assets $267.5M
Total Long-Term Assets $11.52M
Total Assets $279.0M
YoY Change 0.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.041M
YoY Change 13.07%
Accrued Expenses $10.07M
YoY Change 1.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.51M
YoY Change 3.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $197.0K
YoY Change 0.0%
Total Long-Term Liabilities $197.0K
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.51M
Total Long-Term Liabilities $197.0K
Total Liabilities $21.72M
YoY Change -7.26%
SHAREHOLDERS EQUITY
Retained Earnings -$502.8M
YoY Change 3.69%
Common Stock $759.7M
YoY Change 2.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $257.3M
YoY Change
Total Liabilities & Shareholders Equity $279.0M
YoY Change 0.05%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$21.70M
YoY Change -9.66%
Depreciation, Depletion And Amortization $400.0K
YoY Change -20.0%
Cash From Operating Activities -$19.07M
YoY Change -16.75%
INVESTING ACTIVITIES
Capital Expenditures $19.00K
YoY Change -68.33%
Acquisitions
YoY Change
Other Investing Activities $4.369M
YoY Change -77.1%
Cash From Investing Activities $4.350M
YoY Change -77.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 635.0K
YoY Change
NET CHANGE
Cash From Operating Activities -19.07M
Cash From Investing Activities 4.350M
Cash From Financing Activities 635.0K
Net Change In Cash -14.09M
YoY Change 262.13%
FREE CASH FLOW
Cash From Operating Activities -$19.07M
Capital Expenditures $19.00K
Free Cash Flow -$19.09M
YoY Change -16.89%

Facts In Submission

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<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in accordance with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amount of expenses during the reported periods. Estimates inherent in the preparation of these consolidated financial statements include, but are not limited to, estimates related to revenue recognition, accrued expenses, stock-based compensation expense, and income taxes. The Company bases its estimates on historical experience and other market specific or other relevant assumptions it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Actual results could differ from those estimates or assumptions.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
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us-gaap Common Stock Voting Rights
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fulc Ownership Limitation Description
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us-gaap Share Based Compensation
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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fulc Defined Contribution Plan Name
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us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q3 fulc Effect Of Dilutive Securities Stock Options And Stock Appreciation Right
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CY2023Q3 fulc Effect Of Dilutive Securities Stock Options And Stock Appreciation Right
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fulc Effect Of Dilutive Securities Stock Options And Stock Appreciation Right
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CY2024Q3 fulc Effect Of Dilutive Securities Restricted Stock Units
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CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q3 fulc Workforce Plan Of Company Description
WorkforcePlanOfCompanyDescription
The plan reduced the Company’s workforce from 80 to 51 full-time employees, including a reduction of positions across both research and development and general and administrative functions.
CY2024Q3 fulc Aggregate Restructuring Charges
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fulc Aggregate Restructuring Charges
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CY2024Q3 ecd Rule10b51 Arr Adopted Flag
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