| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 8.15 | 7.8% | 4.3% |
| Total Income | 8.15 | 7.8% | 4.3% |
| Expenditure | 26.65 | 7.0% | 15.8% |
| PBT | — | ||
| Net Profit | -15.85 | 11.7% | 17.1% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.25 | 10.7% | 19.4% |
Foghorn Therapeutics Reports Q3 2025 Financial and Corporate Update
04 May 2026 · 4 May, 8:05 am
Summary
Foghorn Therapeutics Inc. announced its Q3 2025 financial results, reporting collaboration revenue of $8.2 million, a slight increase from $7.8 million in Q3 2024. Research and development expenses decreased to $20.0 million from $24.7 million year-over-year. The company's net loss was $15.8 million, an improvement from the $19.1 million loss in the same period last year. Foghorn's cash, cash equivalents, and marketable securities totaled $180.3 million as of September 30, 2025, providing a cash runway into 2028.
Key Highlights
- 1
Foghorn Therapeutics reported collaboration revenue of $8.2 million for the three months ended September 30, 2025, compared to $7.8 million for the three months ended September 30, 2024.
- 2
Research and development expenses were $20.0 million for the three months ended September 30, 2025, compared to $24.7 million for the three months ended September 30, 2024.
- 3
The company's general and administrative expenses were $6.7 million for the three months ended September 30, 2025, compared to $7.0 million for the three months ended September 30, 2024.
- 4
Net loss was $15.8 million for the three months ended September 30, 2025, compared to a net loss of $19.1 million for the three months ended September 30, 2024.
- 5
As of September 30, 2025, Foghorn Therapeutics had $180.3 million in cash, cash equivalents, and marketable securities, providing cash runway into 2028.
- 6
The FHD-909 Phase 1 dose escalation trial in SMARCA4(BRG1)-mutated cancer remains on track with non-small cell lung cancer (NSCLC) as the primary target population.
Management Comments
Adrian Gottschalk
“This quarter marked continued execution across our portfolio, reinforcing our leadership in developing novel precision therapies with broad applicability across cancers. FHD-909, in collaboration with Lilly, is advancing in a Phase 1 dose escalation trial for the treatment of SMARCA4-mutated cancers with a focus on NSCLC. Based on our preclinical monotherapy and combination data, we are enthusiastic about the development of FHD-909 with the goal of developing it as a front-line therapy in NSCLC. Our strategic collaboration with Lilly provides the necessary strategic and financial resources to develop FHD-909.” “Momentum is strong for our wholly-owned, first-in-class selective degrader programs targeting CBP, EP300 and ARID1B with program updates highlighted during our recent virtual investor event. Our Selective CBP degrader, with potential in ER+ breast cancer, entered non-GLP toxicology studies in Q4 2025 and is advancing towards IND in 2026, and our Selective EP300 degrader continues to show broad spectrum efficacy across hematological malignancies and favorable tolerability in preclinical studies, differentiating it from dual CBP/EP300 approaches. Our Selective ARID1B degrader is progressing towards in vivo proof-of-concept in 2026 with potential in up to 5% of all solid tumors including endometrial, gastric, gastroesophageal junction, bladder and non-small cell lung cancer. Backed by our strong balance sheet and a cash runway into 2028, we are focused on delivering breakthrough therapies that harness the broad therapeutic potential of protein degradation and chromatin regulation. Finally, I want to thank Kristian for his leadership and commitment during his time at Foghorn. He has been a valued member of the team, and I wish him well in his future endeavors.”
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