05:27 PM EDT, 09/24/2024 (MT Newswires) -- Fulcrum Therapeutics ( FULC ) said Tuesday its board has approved a restructuring plan that will trim its workforce to 51 full-time employees from 80.

The company said its goal is to reprioritize research and development activities to focus on advancing pociredir for the treatment of sickle cell disease, novel therapeutic agents for the treatment of Diamond-Blackfan anemia, and its early discovery programs.

One-time costs of roughly $2 million are expected from the job cuts, mainly related to severance payments, and most of which will be booked in Q3, it said.

Fulcrum expects the workforce reduction to be substantially completed by the end of Q3, and to result in annual operating expense savings of about $10 million beginning in Q1 2025.

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