0001193125-26-178806
SEC filingFulcrum Therapeutics terminated its CAMP4 license agreement, reported Q1 2026 financial results with $333.3M cash runway into 2029, appointed Josh Lehrer to its board, and announced CFO Alan Musso's retirement.
Fulcrum Therapeutics disclosed the termination of its July 5, 2023 License Agreement with CAMP4 Therapeutics, providing written notice on April 23, 2026, effective per agreement terms. This ends Fulcrum's worldwide exclusive license to CAMP4's Diamond-Blackfan anemia program, including small molecule compounds and related IP from CMCC, avoiding potential future payments of up to $35M in development/regulatory milestones, $35M in sales milestones, and royalties, following an undisclosed upfront payment. The board appointed Josh Lehrer, M.D., an experienced sickle cell disease leader involved in Oxbryta development, as an independent Class III director effective April 23, 2026, assigning him to the Science & Technology Committee with a one-time option for 64,000 shares at $8.08, the Nasdaq closing price that day, plus standard non-employee compensation. Simultaneously, CFO Alan Musso announced retirement effective later 2026, unrelated to disagreements, remaining until a successor is named and consulting through February 2027 under a Transition Agreement with benefits per his employment terms and extended option exercises. Q1 2026 results showed net loss widening to $18.9M from $17.7M year-ago, driven by R&D up $0.7M to $14.1M (higher compensation) and G&A up $1.1M to $8.1M (compensation and services), offset by $3.3M other income. Cash declined $19M to $333.3M from year-end 2025, funding operations into 2029. Highlights included positive pociredir Phase 1b PIONEER data with HbF induction, hemolysis/anemia improvements, VOC trends, well-tolerated profile, first long-term dosing patient, and planned H2 2026 registration trial post-FDA feedback.