Slate Medicines heads for the Nasdaq six months after launching

Pursuing a Nasdaq listing through a reverse merger with Fulcrum Therapeutics, with a $245M private placement led by Frazier Life Sciences.

Six months after emerging with $130M, Slate is merging with Massachusetts-based Fulcrum Therapeutics (Nasdaq: FULC) and expects to trade as SLTE after a fourth-quarter close. Securities filings cited by TBJ value Slate at $350M against $31.3M for Fulcrum; pre-merger Slate holders would own 55.9% of the combined company, private-placement investors 39.1%, and Fulcrum holders 5%, with Fulcrum paying an estimated $270M dividend and contributing roughly $20.3M in net cash. Proceeds fund operations into 2029, including Phase 1 and 2 studies of SLTE-1009, the anti-PACAP monoclonal antibody licensed from DartsBio that recently cleared a Phase 1 start in Australia with initial data expected mid-2027. The combined company keeps Slate's name, management, and board.