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LOS ANGELES, June 22, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Fulcrum Therapeutics, Inc. (“Fulcrum” or the “Company”) (NASDAQ: FULC). investors that a lawsuit filed on behalf of investors that purchased Fulcrum securities between March 3, 2022 and March 8, 2023, both dates inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The plaintiff alleges that the defendants made false and misleading statements during a specific period, including the failure to disclose safety concerns related to the preclinical data of FTX-6058, which indicated potential hematological malignancies and increased the likelihood of an FDA clinical hold. This resulted in an overstatement of the drug's clinical and commercial prospects. On February 24, 2023, Fulcrum announced that the FDA had issued a full clinical hold on FTX-6058, leading to a significant drop in the company's stock price. Subsequently, on March 9, 2023, Fulcrum disclosed further details regarding the FDA's clinical hold letter, referencing previous preclinical data and evidence of hematological malignancies associated with other inhibitors. The stock price further declined as a result of this announcement.
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