Fulcrum Therapeutics Announces Departure of Chief Medical Officer
Fulcrum Therapeutics (Nasdaq: FULC) announced that Chief Medical Officer Christopher Morabito will leave the company on July 13, 2022.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Fulcrum Therapeutics (Nasdaq: FULC) announced that Chief Medical Officer Christopher Morabito will leave the company on July 13, 2022. Judith Dunn, President of Research and Development, will provide interim leadership during the search for a new CMO. She will oversee clinical activities, including the Phase 3 REACH trial of losmapimod for Facioscapulohumeral Muscular Dystrophy and the Phase 1b trial of FTX-6058 for sickle cell disease. CEO Bryan Stuart expressed confidence in the senior leadership's ability to achieve corporate objectives moving forward.
Positive
- Judith Dunn's interim leadership ensures continuity in clinical activities.
- Fulcrum's clinical programs, including losmapimod and FTX-6058, are progressing.
Negative
- Departure of CMO may indicate instability in leadership.
Details
News Market Reaction – FULC
The recorded move for FULC in the trading session of this news was -7.73%.
Data tracked by StockTitan Argus. Session date unavailable.
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CAMBRIDGE, Mass., July 11, 2022 (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 that Chief Medical Officer, Christopher Morabito, M.D., will be leaving the company, effective July 13, 2022. Judith Dunn, Ph.D., President of Research and Development will provide interim leadership while the executive search for a new CMO is ongoing.
Dr. Dunn has assumed direct oversight of all clinical activities and related functions, including the recently initiated Phase 3 pivotal REACH trial of losmapimod for the treatment of Facioscapulohumeral Muscular Dystrophy (FSHD) as well as the ongoing Phase 1b trial of FTX-6058 for sickle cell disease (SCD). Dr. Dunn was appointed to her role at Fulcrum in 2021. Prior to joining Fulcrum, she held multiple leadership positions spanning from discovery through commercialization, including leading global clinical development for Roche.
“We have built a strong foundation, with promising clinical programs and the resources to execute on the work ahead,” said Bryan Stuart, Chief Executive Officer at Fulcrum. "We thank Chris for his contributions. The current senior leadership team is well positioned to meet our corporate objectives as we move forward to the next phase of long-term success and growth.”
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 need. Fulcrum’s two lead programs in clinical development are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy (FSHD) and FTX-6058, a small molecule designed to increase expression of fetal hemoglobin for the treatment of sickle cell disease (SCD) and other hemoglobinopathies, including beta-thalassemia. The company’s proprietary product engine, FulcrumSeek™, identifies drug targets that can modulate gene expression to treat the known root cause of gene mis-expression. For more information, please visit www.fulcrumtx.com.
Contacts:
Investors
Stephanie Ascher
Stern Investor Relations, Inc.
stephanie.ascher@sternir.com
212-362-1200
Media
Dee Smith
Executive Director, Corporate Communications
dsmith@fulcrumtx.com
202-746-1324
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