Quarterly ResultMay 7, 2026, 07:08 AM
Foghorn Therapeutics Advances Pipeline, Reports Q1 Net Loss $19.9M
AI Summary
Foghorn Therapeutics reported its first quarter 2026 financial results and provided a comprehensive corporate and pipeline update. The company's lead program, FHD-909, is on track in its Phase 1 trial, with promising preclinical data for combination therapy. Additionally, Foghorn is advancing its wholly-owned selective CBP and EP300 degrader programs, with INDs anticipated in 2027, and its ARID1B degrader program towards in vivo proof of concept in 2026. Despite a slight increase in net loss to $19.9 million and a decrease in collaboration revenue to $3.3 million, the company maintains a strong balance sheet with $183.6 million in cash, providing a runway into the first half of 2028.
Key Highlights
- FHD-909 Phase 1 dose-escalation trial is on track, with preclinical data showing robust, durable regression with anti-PD-1 combo.
- Selective CBP degrader FHT-171 IND is anticipated in 2027 for ER+ breast cancer, with IND-enabling studies in 2026.
- Selective EP300 degraders IND is anticipated in 2027 for hematological malignancies, with IND-enabling studies in 2026.
- Selective ARID1B degrader is advancing towards in vivo proof of concept in 2026.
- Cash, cash equivalents, and marketable securities totaled $183.6 million as of March 31, 2026.
- The company's cash runway is extended into the first half of 2028.
- Net loss for Q1 2026 was $19.9 million, compared to $18.8 million for Q1 2025.
- Collaboration revenue decreased to $3.3 million in Q1 2026 from $6.0 million in Q1 2025.