The Life Sciences team advised Fulcrum Therapeutics, Inc. (Nasdaq: FULC) on its underwritten public offering of 9,615,384 shares of its common stock at a public offering price of $13.00 per share. The gross proceeds to Fulcrum from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, were $125 million. In addition, Fulcrum has granted the underwriters a 30-day option to purchase up to an additional 1,442,307 shares of its common stock. The offering closed on January 20, 2023.
Fulcrum Therapeutics is a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined rare diseases in areas of high unmet medical need. Its most advanced product candidate, losmapimod, is in development to treat the root cause of facioscapulohumeral muscular dystrophy, or FSHD. Its other clinical product candidate is FTX-6058, which is being developed for the treatment of certain hemoglobinopathies, including sickle cell disease, or SCD.