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Foghorn Therapeutics Shares Drop 44% to $2.00
Sahres of Foghorn Therapeutics (FHTX) have fallen about 44% to $2.00 in pre-market trading after the company announced that, following a review of clinical data from the Phase 1 dose escalation trial of FHD-909, Foghorn and Lilly (LLY) have decided not to advance the program into the clinical development expansion phase.
Foghorn Therapeutics and Lilly Halt FHD-909 Clinical Development
Foghorn Therapeutics (FHTX) announced that, following a review of clinical data from the Phase 1 dose escalation trial of FHD-909, Foghorn and Lilly (LLY) have decided not to advance the program into the clinical development expansion phase. The Collaboration also will not be advancing the Selective SMARCA2 degrader program, and the companies do not anticipate further collaboration activities. "Unfortunately, the biology of the SMARCA2/4 synthetic lethality relationship has not translated into the level of efficacy required to further advance the program," said Adrian Gottschalk, President and Chief Executive Officer of Foghorn Therapeutics. "Foghorn is reducing its workforce by approximately 40% and further aligning its operating structure resulting in cash to fund Foghorn's priority programs into the second half of 2029. "
Foghorn Therapeutics Q2 Revenue $16.07M
Reports Q2 revenue $16.07M, consensus $7.93M. "Our FHD-909 trial in collaboration with Lilly continues to advance through dose escalation, with an initial focus on SMARCA4-mutant NSCLC, a setting where effective treatment options remain limited and outcomes poor," said Adrian Gottschalk, President and Chief Executive Officer of Foghorn Therapeutics.
Foghorn Therapeutics Q1 Revenue $3.27M, Below Expectations
Reports Q1 revenue $3.27M, consensus $7.94M. "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," said Adrian Gottschalk, President and Chief Executive Officer of Foghorn Therapeutics. "At this year's American Association for Cancer Research 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."
Foghorn Therapeutics Presents Preclinical Data for FHD-909
Foghorn Therapeutics presented new preclinical data for Selective SMARCA2 inhibitor FHD-909 showing complete and durable tumor regression together with anti-tumor immune memory following combination treatment with an anti-PD-1 antibody in preclinical syngeneic mouse models. The company also reported new preclinical data for its Selective CBP and Selective EP300 degrader programs, demonstrating favorable efficacy and safety profiles across a range of difficult-to-treat cancers, in addition to progress with its Selective ARID1B degrader program. These data were unveiled in multiple oral and poster presentations at the 2026 American Association for Cancer Research Annual Meeting. Key highlights include: Complete and durable regression and anti-tumor immune memory following treatment with FHD-909 in combination with an anti-PD-1 antibody in preclinical syngeneic mouse models; Selective CBP degrader FHT-171 shows strong anti-tumor activity and favorable tolerability in preclinical models of heavily pretreated ER+ breast cancer; Selective EP300 degrader outperforms clinical benchmark in preclinical multiple myeloma models, showing enhanced safety and efficacy ; Robust degradation achieved with cereblon-based selective ARID1B degraders with potential for oral bioavailability
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