NEW YORK, May 04, 2023 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities who purchased the securities of Fulcrum Therapeutics Inc. (“Fulcrum” or the “Company”) (NASDAQ: FULC) between March 3, 2022 and March 8, 2023, both dates inclusive (the “Class Period”).

According to the lawsuit, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the preclinical data submitted in support of FTX-6058 (a prospective drug for the potential treatment of sickle-cell disease) showed safety concerns regarding potential hematological malignancies; (2) the foregoing safety concerns increased the likelihood that the FDA would place a clinical hold on preclinical studies of FTX-6058; (3) accordingly, the Company had overstated FTX 6058’s clinical and/or commercial prospects; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of Fulcrum should contact the Firm prior to the June 27, 2023 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.