After four months, Fulcrum Therapeutics finally has a permanent CEO: industry veteran Alex Sapir.
The clinical-stage biopharmaceutical company named Sapir as its leader Monday, four months after CEO Bryan Stuart left to pursue other opportunities. Following that announcement, former CEO and founding president Robert J. Gould stepped in as interim CEO while the company sought a full-time successor.
Gould joined Fulcrum in 2016, positions he held until March 2021, when Stuart took over.
“We are delighted to welcome Alex as our new CEO,” Gould said in a statement. “Alex brings a wealth of experience leading innovative companies through periods of strategic change, and a strong track record of delivering growth and enhanced value to patients, employees, and stockholders. We have great confidence in his ability to shepherd our company through the next phase of our journey.”
Sapir’s position will be effective July 1. Most recently serving as CEO of ReViral Ltd, Sapir joined Fulcrum on Friday in a part-time position as special advisor to the interim CEO before he takes the reins in the top spot in a few months.
“I am both honored and excited to lead Fulcrum at this pivotal stage,” Sapir said in a statement. “Fulcrum’s progress to date is a testament to what can be achieved when a commitment to patients and visionary science come together. I look forward to building on this strong foundation as we work to advance and expand our pipeline to deliver on its unique promise for patients.”
Fulcrum named Sapir as its CEO the same day it released its Q1 2023 earnings report, highlighted by the company stating that it is on track to complete the enrollment of the Phase 3 trial for losmapimod in facioscapulohumeral muscular dystrophy during the second half of the year.
Other than the leadership change, the most significant development during the quarter for Fulcrum was the Food and Drug Administration’s decision to place a clinical hold on the investigational new drug application for FTX-6058, the company’s potential treatment for sickle cell disease.
At the end of the last reporting cycle, Fulcrum’s cash position totaled $297.8 million, up from $202.9 million at the end of 2022.
