Tang entities report 5,451,800‑share stake in Fulcrum (FULC)

Rhea-AI Filing Summary

Fulcrum Therapeutics, Inc. Schedule 13G: Tang-linked holders report 5,451,800 shares (8.2%). Tang Capital Management, Kevin Tang and affiliated Tang Capital entities report shared voting and dispositive power over 5,451,800 shares of Common Stock. The filing bases the percentage on 66,633,321 shares outstanding as of April 20, 2026 per the company's Form 10-Q.

The statement identifies the filing parties, their addresses, and citizenship; it lists shared voting/dispositive power across Tang Capital Partners entities and confirms signatures by Kevin Tang on June 10, 2026.

Insights

Institutional Ownership Analyst

Concentrated but non‑controlling stake: Tang group holds 8.2% via shared control.

The filing shows a combined position of 5,451,800 shares representing 8.2% of the outstanding common stock using an as‑of anchor of April 20, 2026. Ownership is recorded as shared voting and dispositive power across multiple Tang entities, not sole control.

Future disclosures or transactions by these entities would change the picture; subsequent filings would show any increase or disposition. Cash‑flow treatment is not stated in this excerpt.

Corporate Governance Specialist

Affinity of related entities requires aggregated read for governance impact.

The statement attributes the same 5,451,800 shares to TCM, TCP, TCPI, TCP III, TCP IV and Kevin Tang with shared powers. The filing clarifies entity relationships and shared control language, which is important for voting calculations at shareholder meetings.

Because power is shared, the position is governance‑relevant but not a controlling block per the disclosed 8.2%. Any material changes should appear in subsequent Section 13 filings.

Key Figures

Beneficial ownership: 5,451,800 shares Percent of class: 8.2% Shares outstanding (as of): 66,633,321 shares +2 more

5 metrics

Beneficial ownership 5,451,800 shares Reported combined holding by Tang entities

Percent of class 8.2% Calculated using shares outstanding as of April 20, 2026

Shares outstanding (as of) 66,633,321 shares As of April 20, 2026 (per Form 10-Q cited)

CUSIP 359616109 Fulcrum Therapeutics common stock CUSIP

Signature date June 10, 2026 Date of signatures by Kevin Tang

Key Terms

shared dispositive power, beneficially owned, Schedule 13G

3 terms

shared dispositive power regulatory

"shares voting and dispositive power over such shares with"

beneficially owned financial

"Amount beneficially owned: 5,451,800"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Schedule 13G regulatory

"This Statement on (this "Statement") is filed by TCM"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 06/10/2026 - 06:15 PM Accepted by SEC EDGAR 06/10/2026 - 06:13 PM Learn about SEC filing dates

FAQ

What stake does Tang Capital report in Fulcrum Therapeutics (FULC)?

Tang-linked holders report beneficial ownership of 5,451,800 shares, equal to 8.2% of Fulcrum's common stock based on the disclosed outstanding share count.

On what outstanding share base is the 8.2% calculated for FULC?

The percentage is calculated using 66,633,321 shares outstanding as of April 20, 2026, cited from Fulcrum's Form 10-Q filed April 27, 2026.

Which entities and individuals share voting power over these FULC shares?

Tang Capital Management, LLC, Tang Capital Partners, LP, Tang Capital Partners International, LP, Tang Capital Partners III, Inc., Tang Capital Partners IV, Inc., and Kevin Tang are listed as sharing voting and dispositive power.

Does the filing state whether these shares give sole control over Fulcrum (FULC)?

No; the filing shows 0 shares of sole voting or sole dispositive power and reports the position as shared voting and dispositive power, not sole control.

What addresses and citizenships are disclosed for the filers of the FULC Schedule 13G?

Addresses shown include 4747 Executive Drive, Suite 210, San Diego, CA 92121 and 400 S. 4th Street, 3rd Floor, Las Vegas, NV 89101; TCM, TCP and TCPI are Delaware entities and Mr. Tang is a United States citizen.

When was the Schedule 13G for FULC signed and by whom?

The filing is signed by Kevin Tang in multiple capacities with signature dates of June 10, 2026 as shown in the excerpt.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Fulcrum Therapeutics, Inc.

(Name of Issuer)

Common stock, par value $0.001 per share

(Title of Class of Securities)

359616109

(CUSIP Number)

06/03/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 359616109

1

Names of Reporting Persons

TANG CAPITAL MANAGEMENT, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,451,800.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,451,800.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,451,800.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.2 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Tang Capital Management, LLC ("TCM") shares voting and dispositive power over such shares with Tang Capital Partners, LP ("TCP"), Tang Capital Partners International, LP ("TCPI"), Tang Capital Partners III, Inc. ("TCP III"), Tang Capital Partners IV, Inc. ("TCP IV") and Kevin Tang. The percentages used herein are based on 66,633,321 shares of Common Stock outstanding as of April 20, 2026, as set forth in the Quarterly Report filed on Form 10-Q that was filed with the Securities and Exchange Commission on April 27, 2026.

SCHEDULE 13G

CUSIP Number(s): 359616109

1

Names of Reporting Persons

KEVIN TANG

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,451,800.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,451,800.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,451,800.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.2 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Kevin Tang shares voting and dispositive power over such shares with TCP, TCPI, TCP III, TCP IV and TCM.

SCHEDULE 13G

CUSIP Number(s): 359616109

1

Names of Reporting Persons

TANG CAPITAL PARTNERS, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,249,373.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,249,373.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,249,373.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.9 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: TCP shares voting and dispositive power over such shares with TCM and Kevin Tang.

SCHEDULE 13G

CUSIP Number(s): 359616109

1

Names of Reporting Persons

TANG CAPITAL PARTNERS INTERNATIONAL, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,703,690.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,703,690.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,703,690.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.5 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: TCPI shares voting and dispositive power over such shares with TCM and Kevin Tang.

SCHEDULE 13G

CUSIP Number(s): 359616109

1

Names of Reporting Persons

TANG CAPITAL PARTNERS III, INC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEVADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,249,367.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,249,367.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,249,367.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.9 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: TCP III shares voting and dispositive power over such shares with TCM and Kevin Tang.

SCHEDULE 13G

CUSIP Number(s): 359616109

1

Names of Reporting Persons

TANG CAPITAL PARTNERS IV, INC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEVADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,249,370.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,249,370.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,249,370.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.9 %

12

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person: TCP IV shares voting and dispositive power over such shares with TCM and Kevin Tang.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Fulcrum Therapeutics, Inc.
(b)	Address of issuer's principal executive offices: 26 Landsdowne Street, Cambridge, MA, 02139
Item 2.
(a)	Name of person filing: This Statement on Schedule 13G (this "Statement") is filed by TCM, the general partner of TCP and TCPI; Kevin Tang, the manager of TCM and Chief Executive Officer of TCP III and TCP IV; TCP; TCPI; TCP III; and TCP IV.
(b)	Address or principal business office or, if none, residence: The address of TCM, Kevin Tang, TCP and TCPI is 4747 Executive Drive, Suite 210, San Diego, CA 92121. The address of TCP III and TCP IV is 400 S. 4th Street, 3rd Floor, Las Vegas, NV 89101.
(c)	Citizenship: TCM is a Delaware limited liability company. Mr. Tang is a United States citizen. TCP and TCPI are Delaware limited partnerships. TCP III and TCP IV are Nevada corporations that are indirectly wholly owned by TCP.
(d)	Title of class of securities: Common stock, par value $0.001 per share
(e)	CUSIP Number(s): 359616109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5,451,800
(b)	Percent of class: 8.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0 shares
	(ii) Shared power to vote or to direct the vote: 5,451,800 shares
	(iii) Sole power to dispose or to direct the disposition of: 0 shares
	(iv) Shared power to dispose or to direct the disposition of: 5,451,800 shares
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TANG CAPITAL MANAGEMENT, LLC

Signature:	/s/ Kevin Tang
Name/Title:	Manager
Date:	06/10/2026

KEVIN TANG

Signature:	/s/ Kevin Tang
Name/Title:	Self
Date:	06/10/2026

TANG CAPITAL PARTNERS, LP

Signature:	/s/ Kevin Tang
Name/Title:	Manager, Tang Capital Management, LLC, General Partner
Date:	06/10/2026

TANG CAPITAL PARTNERS INTERNATIONAL, LP

Signature:	/s/ Kevin Tang
Name/Title:	Manager, Tang Capital Management, LLC, General Partner
Date:	06/10/2026

TANG CAPITAL PARTNERS III, INC

Signature:	/s/ Kevin Tang
Name/Title:	Chief Executive Officer
Date:	06/10/2026

TANG CAPITAL PARTNERS IV, INC

Signature:	/s/ Kevin Tang
Name/Title:	Chief Executive Officer
Date:	06/10/2026