CAMBRIDGE, Mass., Jan. 22, 2021 (GLOBE NEWSWIRE) -- Fulcrum Therapeutics, Inc. (Nasdaq: FULC), a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined rare diseases, today announced closing of its previously announced underwritten public offering of 4,600,000 shares of its common stock at a public offering price of $11.00 per share, which includes 600,000 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares at the public offering price, less underwriting discounts and commissions. The total gross proceeds of the offering were $50.6 million, before deducting underwriting discounts and commissions and offering expenses payable by Fulcrum. All of the shares in the offering were sold by Fulcrum.

SVB Leerink, Piper Sandler & Co. and Credit Suisse acted as joint book-running managers for the offering. H.C. Wainwright & Co. acted as lead manager for the offering.

About Fulcrum Therapeutics

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. Fulcrum’s proprietary product engine identifies drug targets which can modulate gene expression to treat the known root cause of gene mis-expression. The company has advanced losmapimod to Phase 2 clinical development for the treatment of facioscapulohumeral muscular dystrophy (FSHD) and Phase 3 for the treatment of COVID-19. Fulcrum has also advanced FTX-6058, a small molecule designed to increase expression of fetal hemoglobin for the treatment of sickle cell disease and beta-thalassemia, into Phase 1 clinical development.