Fulcrum Therapeutics (FULC) Research & Development (2018 - 2026)
Fulcrum Therapeutics (FULC) recorded Research & Development of $12.44 million in Q2 2026, down 4.2% from $12.99 million a year earlier and down 11.6% from the prior quarter.
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Analysis
Fulcrum Therapeutics (FULC) Research & Development (2018 - 2026) Analysis & Trends
On a TTM basis, Fulcrum Therapeutics' Research & Development came in at $56.24 million as of Jun 30, 2026, up 6.6% year-over-year; for FY2025, it came in at $56.1 million, down 11.5% from FY2024.
- Annual Research & Development has declined for three straight years, with a five-year compound annual growth rate of -1.0% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $63.39 million in FY2024 (-11.7%), $71.8 million in FY2023 (-6.5%), $76.78 million in FY2022 (+10.2%) and $69.7 million in FY2021 (+18.1%).
- The Q2 2026 figure is the lowest quarterly Research & Development since Q4 2024.
- On a year-over-year basis, Research & Development rose in two of the last eight quarters, with an average decline of 10.6%.
- Peak year-over-year performance for Research & Development in the last five years was growth of 44.0% in Q2 2022, against a decline of 38.3% in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $14.08 million (Q1 2026), $15.42 million (Q4 2025) and $14.3 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 993.80 Mn |
| 10 | Fulcrum Therapeutics | 283.78 Mn | 283.78 Mn | - | 12.44 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.44 Mn |
| Mar 31, 2026 | 14.08 Mn |
| Dec 31, 2025 | 15.42 Mn |
| Sep 30, 2025 | 14.30 Mn |
| Jun 30, 2025 | 12.99 Mn |
| Mar 31, 2025 | 13.40 Mn |
| Dec 31, 2024 | 11.71 Mn |
| Sep 30, 2024 | 14.64 Mn |
| Jun 30, 2024 | 17.26 Mn |
| Mar 31, 2024 | 19.77 Mn |
| Dec 31, 2023 | 19.00 Mn |
| Sep 30, 2023 | 18.24 Mn |
| Jun 30, 2023 | 17.85 Mn |
| Mar 31, 2023 | 16.72 Mn |
| Dec 31, 2022 | 18.57 Mn |
| Sep 30, 2022 | 15.37 Mn |
| Jun 30, 2022 | 25.02 Mn |
| Mar 31, 2022 | 17.83 Mn |
| Dec 31, 2021 | 18.91 Mn |
| Sep 30, 2021 | 17.08 Mn |
API Access
Fulcrum Therapeutics Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=FULC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "FULC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=FULC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();