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Fulcrum Therapeutics Stock Gains 13%

Shares of Fulcrum Therapeutics Inc. (FULC) are gaining over 13% on Tuesday morning after the clinical-stage biopharmaceutical company priced an offering of 9.6 million shares at $7.82.

FULC is currently trading at $8.84, up $1.02 or 13.04%, on the Nasdaq, on a volume of 1.2 million shares, above average volume of 0.6 million. The stock opened its trading at $8.64 after closing Monday's trading at $7.82. The stock has traded between $3.21 and $33.10 in the past 52-week period.

The company will raise proceeds of $75 million from the offering, which is expected to close on or about August 18, 2022.

Fulcrum Therapeutics focuses on developing products for improving the lives of patients with genetically defined diseases in the areas of high unmet medical need in the United States.

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