Fulcrum falls after discontinuing sickle cell drug program

Ipsen SA

02/06/2026 15:10

Updates
** Shares of drug developer Fulcrum Therapeutics FULC.O fall as much as 51.6% to over a year low of $3.14

     ** Stock is set for its worst day since September 2024, if losses hold
  
** Co said late on Monday it is discontinuing development of its experimental pociredir program for sickle cell disease, an inherited blood disorder
** Fulcrum said FDA expressed concerns of secondary blood cancers seen with Ipsen's IPN.PA Tazverik, a cancer drug that targets a similar pathway and was withdrawn globally in March
** Leerink Partners analyst Joseph Schwartz says "there have certainly been many bumps along the way for the pociredir program in SCD, but we view the clinical efficacy observed to date as compelling"
** Fulcrum will explore options including a merger, acquisition, business combination or other transaction, and has initiated efforts to cut operating expenses and preserve cash
** At least three brokerages lowered their price targets and downgraded the stock following the development
** Including session moves, stock down 72.6% YTD 

(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))