Why Fulcrum Therapeutics Popped Again on Tuesday
Fulcrum Therapeutics (NASDAQ: FULC) shares are climbing again after the early clinical-stage biotech announced a plan to raise $100 million in a secondary share offering. Investors aren't thrilled about the share offering, but upgrades from Wall Street analysts helped them get over it and then some.
The stock was up more than 35% this morning, but the rally has stalled. Shares of Fulcrum Therapeutics were ahead just 3.9% at 3:13 p.m. EDT on Wednesday.
Yesterday, Fulcrum Therapeutics stock shot up after the company read out compelling results from the first clinical trial with its first new drug candidate, tentatively named FTX-6058. This is a once-daily pill that encourages the production of fetal hemoglobin (HbF) in order to help people born with sickle cell disease (SCD).
Source Fool.com
