Slate Medicines is moving toward Nasdaq through a reverse merger with Fulcrum Therapeutics, backed by a $245M financing aimed at advancing migraine programs. The combined plan includes pushing a PACAP inhibitor into Phase 1 and funding additional antibody-led migraine candidates. The deal closes after Fulcrum discontinued pociredir development following regulatory concerns linked to secondary blood cancer risk. Slate, which raised $130M earlier, said the merger creates a path to broaden a next-generation migraine portfolio rather than relying on a single asset. For the migraine category, the transaction highlights how funding and clinical risk are being reallocated quickly following attrition events.