$FULC
Fulcrum Therapeutics, Inc.

2019 Form 10-K Financial Statement

#000156459020008951 Filed on March 05, 2020

View on sec.gov

Income Statement

Concept 2019 2018 Q4 2018
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.15M $2.390M $8.310M
YoY Change 58.24% 84.67%
% of Gross Profit
Research & Development $71.07M $6.860M $25.18M
YoY Change 182.21% 36.2%
% of Gross Profit
Depreciation & Amortization $2.053M $510.0K $1.345M
YoY Change 52.64% 86.81%
% of Gross Profit
Operating Expenses $84.22M $9.250M $33.50M
YoY Change 151.41% 45.71%
Operating Profit -$84.22M
YoY Change
Interest Expense $1.540M $390.0K $520.0K
YoY Change 196.15%
% of Operating Profit
Other Income/Expense, Net $30.00K $10.00K $390.0K
YoY Change -92.31% 1200.0%
Pretax Income -$82.68M -$8.860M -$32.59M
YoY Change 153.7% 41.94%
Income Tax
% Of Pretax Income
Net Earnings -$82.68M -$8.860M -$32.59M
YoY Change 153.7% 41.93%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$3.650M -$397.5K -$1.462M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 2018 Q4 2018
SHORT-TERM ASSETS
Cash & Short-Term Investments $96.70M $72.80M
YoY Change 32.83% 18100.0%
Cash & Equivalents $96.70M $72.80M $72.80M
Short-Term Investments
Other Short-Term Assets $3.300M $238.0K $800.0K
YoY Change 312.5% 0.0%
Inventory
Prepaid Expenses
Receivables $100.0K $100.0K
Other Receivables $0.00 $400.0K
Total Short-Term Assets $100.1M $74.10M $74.10M
YoY Change 35.09% 5600.0%
LONG-TERM ASSETS
Property, Plant & Equipment $9.200M $10.55M $10.50M
YoY Change -12.38% 262.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.200M $38.00K $1.100M
YoY Change 9.09% 1000.0%
Total Long-Term Assets $10.30M $11.68M $11.70M
YoY Change -11.97% 290.0%
TOTAL ASSETS
Total Short-Term Assets $100.1M $74.10M $74.10M
Total Long-Term Assets $10.30M $11.68M $11.70M
Total Assets $110.4M $85.77M $85.80M
YoY Change 28.67% 1895.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.200M $1.263M $1.300M
YoY Change 69.23% -23.53%
Accrued Expenses $5.400M $2.200M
YoY Change 145.45% 100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $0.00
YoY Change
Total Short-Term Liabilities $12.10M $4.229M $4.200M
YoY Change 188.1% 50.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.10M $150.0K $5.500M
YoY Change 101.82% 2650.0%
Total Long-Term Liabilities $11.10M $150.0K $5.500M
YoY Change 101.82% 2650.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.10M $4.229M $4.200M
Total Long-Term Liabilities $11.10M $150.0K $5.500M
Total Liabilities $23.30M $9.771M $9.800M
YoY Change 137.76% 226.67%
SHAREHOLDERS EQUITY
Retained Earnings -$68.12M
YoY Change
Common Stock $4.454M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $67.02K
Shareholders Equity $87.20M -$63.67M $76.00M
YoY Change
Total Liabilities & Shareholders Equity $110.4M $85.77M $85.80M
YoY Change 28.67% 1895.35%

Cashflow Statement

Concept 2019 2018 Q4 2018
OPERATING ACTIVITIES
Net Income -$82.68M -$8.860M -$32.59M
YoY Change 153.7% 41.93%
Depreciation, Depletion And Amortization $2.053M $510.0K $1.345M
YoY Change 52.64% 86.81%
Cash From Operating Activities -$39.48M -$6.400M -$22.56M
YoY Change 75.0% 12.42%
INVESTING ACTIVITIES
Capital Expenditures $853.0K -$3.460M $8.981M
YoY Change -90.5% -570.21%
Acquisitions
YoY Change
Other Investing Activities -$90.00K
YoY Change
Cash From Investing Activities -$944.0K -$3.460M -$8.981M
YoY Change -89.49% 370.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $249.0K $12.00K
YoY Change 1975.0% -99.93%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 64.34M -90.00K 105.0M
YoY Change -38.74% 494.71%
NET CHANGE
Cash From Operating Activities -39.48M -6.400M -22.56M
Cash From Investing Activities -944.0K -3.460M -8.981M
Cash From Financing Activities 64.34M -90.00K 105.0M
Net Change In Cash 23.92M -9.950M 73.48M
YoY Change -67.45% -1800.97%
FREE CASH FLOW
Cash From Operating Activities -$39.48M -$6.400M -$22.56M
Capital Expenditures $853.0K -$3.460M $8.981M
Free Cash Flow -$40.34M -$2.940M -$31.54M
YoY Change 27.88% 73.69%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.86%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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, the fair value of the common stock and convertible preferred stock prior to the completion of the Company&#8217;s IPO, 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. </p>
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