Quarterly ResultAug 6, 2026, 07:08 AM
Foghorn Q2 Net Loss $7.2M; Cash Runway into H1 2028
AI Summary
Foghorn Therapeutics reported a net loss of $7.2 million for the second quarter of 2026, a substantial reduction from $17.9 million in the prior year, driven by increased collaboration revenue of $16.1 million. The company maintains a strong balance sheet with $167.6 million in cash, cash equivalents, and marketable securities, providing a cash runway into the first half of 2028. Operationally, the FHD-909 Phase 1 trial is progressing, and new INDs are targeted for 2027 for selective EP300 degraders and a novel immunology and inflammation program, though the timeline for the selective CBP degrader has been delayed.
Key Highlights
- Net loss for Q2 2026 was $7.2 million, a significant improvement from $17.9 million in Q2 2025.
- Collaboration revenue increased to $16.1 million for Q2 2026 from $7.6 million in Q2 2025.
- Cash, cash equivalents, and marketable securities totaled $167.6 million as of June 30, 2026.
- The company has a cash runway extending into the first half of 2028.
- FHD-909 Phase 1 dose-escalation trial is advancing as planned, targeting NSCLC.
- Selective EP300 degrader program targets IND in 2027 for hematological malignancies.
- Novel oral small molecule in immunology and inflammation targets IND in 2027.
- Selective CBP degrader (CBPd-171) timeline delayed due to a third-party CRO operational issue.
Price Impact
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