| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 3.27 | 45.0% |
| Total Income | 3.27 | 45.0% |
| Expenditure | 24.84 | 14.0% |
| PBT | — | |
| Net Profit | -19.88 | 5.6% |
| OPM | — | |
| NPM | — | |
| EPS | -0.29 | 3.3% |
Foghorn Therapeutics Reports Q1 2026 Financial and Corporate Update
07 May 2026 · 7 May, 4:37 pm
Summary
Foghorn Therapeutics Inc. provided a financial and corporate update for the quarter ended March 31, 2026. The company's lead program, FHD-909, continues to advance through dose escalation in collaboration with Lilly. New preclinical data was presented at AACR demonstrating the potential of FHD-909 in combination with an anti-PD-1 antibody. Foghorn's Selective CBP degrader FHT-171 is advancing for the treatment of ER+ breast cancer, with an IND anticipated in 2027. The company had approximately $184 million in cash, cash equivalents, and marketable securities as of March 31, 2026, providing cash runway into the first half of 2028.
Key Highlights
- 1
Foghorn Therapeutics' FHD-909 Phase 1 dose-escalation trial is on track, with preclinical combination data showing potential for robust and durable regression with anti-tumor immune memory.
- 2
The company's selective CBP degrader FHT-171 is advancing for the treatment of ER+ breast cancer, with an IND anticipated in 2027.
- 3
Selective EP300 degraders are being developed with potential in multiple myeloma and other hematological malignancies, with an IND anticipated in 2027.
- 4
Collaboration revenue was $3.3 million for the three months ended March 31, 2026, compared to $6.0 million for the three months ended March 31, 2025.
- 5
Research and development expenses were $18.3 million for the three months ended March 31, 2026, compared to $21.6 million for the three months ended March 31, 2025.
- 6
As of March 31, 2026, Foghorn Therapeutics had approximately $184 million in cash, cash equivalents, and marketable securities, providing cash runway into the first half of 2028.
Management Comments
Adrian Gottschalk
"Our lead program, FHD-909, continues to advance through dose escalation in collaboration with Lilly. The trial is enriching for NSCLC patients with SMARCA4 mutations, where outcomes remain especially poor and deteriorate with later lines of therapy." "At this year’s American Association for Cancer Research (AACR) Annual Meeting, we presented compelling preclinical data demonstrating the potential of FHD-909 in combination with an anti-PD-1 antibody to drive complete, durable tumor regression and anti-tumor immune memory." "Across our wholly owned pipeline, we reported new preclinical data highlighting strong anti-tumor activity and tolerability for our Selective CBP degrader FHT-171 in heavily pretreated ER+ breast cancer models, improved safety and efficacy versus clinical benchmark for our Selective EP300 degrader in multiple myeloma, and robust target degradation with potential for oral bioavailability for our cereblon-based selective ARID1B degraders. Together, these programs expand our reach in difficult-to-treat cancers, and we look forward to sharing further progress throughout the year."
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