Fulcrum Therapeutics to Cut Most of Staff After Ending Sickle-Cell-Drug Development

Dow Jones06-05

By Elias Schisgall

Fulcrum Therapeutics will lay off the majority of its workforce after it said it would terminate the development of a sickle-cell-disease treatment.

The company on Thursday said it expects to reduce its staff by about 85%, to nine full-time employees. The layoffs are expected to incur charges of around $4.2 million, which Fulcrum said it expects to recognize in the second quarter.

The layoffs are intended to reduce Fulcrum's expenses and preserve capital, the company said. It said earlier this week that it would end the development of its sickle-cell-disease treatment, pociredir, after failing to find a path forward for the program with the Food and Drug Administration.

FDA officials had expressed skepticism around the drug, highlighting its similarities to a different medication that was pulled from the market in March after being linked to a high rate of blood cancers.

Fulcrum said Monday that it had launched a review of strategic alternatives after ending the pociredir program.

The company said it exited March with $333.3 million in cash, cash equivalents, and marketable securities.

Shares of Fulcrum fell 3.6%, to $3.25, in after-hours trading Thursday. The stock closed 4.7% higher, at $3.37, but has slipped 51% over the past five days and 70% this year.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

June 04, 2026 16:29 ET (20:29 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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The layoffs are expected to incur charges of around $4.2 million, which Fulcrum said it expects to recognize in the second quarter. \n\n\n  The layoffs are intended to reduce Fulcrum's expenses and preserve capital, the company said. It said earlier this week that it would end the development of its sickle-cell-disease treatment, pociredir, after failing to find a path forward for the program with the Food and Drug Administration. \n\n\n  FDA officials had expressed skepticism around the drug, highlighting its similarities to a different medication that was pulled from the market in March after being linked to a high rate of blood cancers. \n\n\n  Fulcrum said Monday that it had launched a review of strategic alternatives after ending the pociredir program. \n\n\n  The company said it exited March with $333.3 million in cash, cash equivalents, and marketable securities. \n\n\n  Shares of Fulcrum fell 3.6%, to $3.25, in after-hours trading Thursday. 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