Recent Updates — FHTX

Foghorn Therapeutics and Eli Lilly decided not to advance the Phase 1 trial of FHD-909 into the expansion phase due to insufficient efficacy, ending their collaboration. The company also discontinued its Selective SMARCA2 degrader program. Consequently, Foghorn approved a strategic reprioritization involving an approximately 40% workforce reduction, leaving about 65 full-time employees by the fourth quarter of 2026. This restructuring is expected to incur $2.3 million in severance charges and extend the company's cash runway into the second half of 2029. Resources will focus on proprietary programs including selective EP300 and CBP degraders, an immunology asset, and an induced proximity platform. Foghorn Therapeutics Inc. is a biotechnology company developing medicines targeting the chromatin regulatory system for oncology and inflammation.

Foghorn Therapeutics Inc. reported financial results for the quarter ended June 30, 2026, showing collaboration revenue of $16.1 million and a net loss of $7.2 million. The company holds approximately $168 million in cash equivalents, providing a runway into the first half of 2028. Clinically, the Phase 1 dose-escalation trial for FHD-909 (LY4050784) is advancing as planned with non-small cell lung cancer as the primary target population. The company also announced that IND submissions are targeted for 2027 for a novel oral small molecule in immunology and inflammation, as well as its selective EP300 degrader program. Foghorn Therapeutics operates in the biotechnology industry, developing medicines targeting chromatin biology.