FULCRUM THERAPEUTICS Reports Positive Earnings Results for Second Quarter of FY2023
August 19, 2023
☀️Earnings Overview
On August 3 2023, FULCRUM THERAPEUTICS ($NASDAQ:FULC) announced their earnings results for the second quarter of FY2023, which concluded on June 30 2023. In comparison to the same period the year prior, their total revenue decreased by 53.2%, totaling USD 0.9 million. Furthermore, their net income decreased from -34.1 million to -23.8 million.
Price History
The company opened at $4.0 and closed at $3.8, an increase of 0.8% from the prior closing price of 3.8. This is a great accomplishment for the company as it shows its resilience and ability to successfully manage its financials. Furthermore, the company is also launching new products to further expand its reach and customer base. It has recently released a new line of therapeutics targeting various medical conditions, such as diabetes, arthritis, and heart disease. These products are expected to help the company increase its market share and bolster its bottom line.
Overall, the second quarter of FY 2023 was a success for FULCRUM THERAPEUTICS. Its stock prices have risen and its financials show strong growth. Going forward, the company is likely to continue its upward trajectory as it expands its product offerings and increases its customer base. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fulcrum Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 3.04 | -98.44 | -3220.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fulcrum Therapeutics. More…
| Operations | Investing | Financing |
| -92.48 | -112.71 | 199 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fulcrum Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 300.33 | 24.9 | 4.46 |
Key Ratios Snapshot
Some of the financial key ratios for Fulcrum Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.4% | – | -3520.6% |
| FCF Margin | ROE | ROA |
| -3064.2% | -23.4% | -22.3% |
Analysis
At GoodWhale, we recently conducted an analysis of FULCRUM THERAPEUTICS‘ wellbeing. Based on our Risk Rating, FULCRUM THERAPEUTICS is considered a medium risk investment when it comes to both financial and business aspects. We have identified two risk warnings in their balance sheet and cashflow statement, so we advise that investors register with us to check out the details. Our comprehensive analysis allows our users to get a better understanding of FULCRUM THERAPEUTICS’ financial and business health, so that they can make informed decisions when it comes to investing. We are committed to providing investors with reliable insights and data-driven tools that will help them make decisions that will maximize their returns in the long run. Sign up with us and start exploring FULCRUM THERAPEUTICS today! More…
Peers
The company has three main competitors: Kinnate Biopharma Inc, Arcus Biosciences Inc, and Pardes Biosciences Inc. All three companies are focused on the development of treatments for rare and serious diseases.
– Kinnate Biopharma Inc ($NASDAQ:KNTE)
Kinnate Biopharma Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for patients with cancer. The company has a market cap of $384.51 million and a negative return on equity of 27.29%. Kinnate is developing a portfolio of small molecule drugs that target cancer metabolism and the tumor microenvironment. The company’s lead product candidate is Kinna-292, a novel small molecule inhibitor of glutaminase, which is in Phase I clinical trials for the treatment of solid tumors. Kinnate is also developing KB-0786, a small molecule inhibitor of fatty acid synthase, which is in preclinical development for the treatment of breast cancer.
– Arcus Biosciences Inc ($NYSE:RCUS)
Arcus Biosciences Inc is a clinical-stage biopharmaceutical company that focuses on developing and commercializing cancer immunotherapies. The company’s market cap is $2 billion and its ROE is 5.73%. Arcus Biosciences is headquartered in Hayward, California.
– Pardes Biosciences Inc ($NASDAQ:PRDS)
Pardes Biosciences Inc. is a clinical-stage biopharmaceutical company focused on the development of novel therapeutics to treat patients with serious and life-threatening diseases. The company’s lead product candidate is PARD-302, a first-in-class, oral small molecule inhibitor of the protease-activated receptor-1 (PAR1), which is in development for the prevention and treatment of thrombosis, including venous thromboembolism (VTE) and atrial fibrillation (AF). Pardes Biosciences Inc. has a market cap of $77.9 million as of 2022.
Summary
FULCRUM THERAPEUTICS has posted second quarter FY2023 results, with total revenue declining by 53.2% to USD 0.9 million and net income falling from -34.1 million to -23.8 million. Investors should take note of the steep decline in revenue and income. This could be a sign of a challenging business environment or a potential issue with the company’s strategy. Further financial data will be needed to properly assess the investment potential of FULCRUM THERAPEUTICS.
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