Fulcrum Therapeutics up on licensing deal with Sanofi for muscle disorder drug

Fulcrum Therapeutics

13/05/2024 13:57

** Shares of Fulcrum Therapeutics  FULC.O  rise 13.8% to
$8.50 premarket
    ** Co signs deal with Sanofi  SASY.PA  to develop and
commercialize its experimental drug for facioscapulohumeral
muscular dystrophy (FSHD)
    ** FULC will receive an upfront payment of $80 mln and is
eligible to receive $975 mln in potential milestones plus
royalties - co
    ** Sanofi will commercialize the drug losmapimod in all
territories outside the U.S., while FULC retains full U.S.
commercialization rights
    ** FSHD is a genetic muscle disease that weakens and shrinks
the muscles of the face, shoulders, upper arms, and lower legs
    ** However, co posts Q1 loss of 43 cents/shr, wider than 41
cents/shr reported a year-ago
    ** Up to last close, stock up 10.7% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))