Foghorn Therapeutics(FHTX) - 2024 Q4 - Annual Results

Oncology Programs - Foghorn is advancing multiple programs targeting SMARCA4 mutant cancers, with FHD-909 (Selective SMARCA2 Inhibitor) currently in Phase 1 trial[28]. - The potential market for Foghorn's therapies includes up to 10% of Non-Small Cell Lung Cancer (NSCLC) and up to 5% of all solid tumors[33]. - The company is developing a pipeline of first-in-class precision therapeutics with potential for broad application in oncology[19]. - Foghorn has progressed multiple programs against challenging targets, including selective inhibitors and degraders for various cancers[8]. - FHD-909 monotherapy demonstrated a 96% tumor growth inhibition (TGI) in A549 and RERF-LC-Al mutant NSCLC models[43]. - In vivo studies showed FHD-909 resulted in significant tumor volume reduction in H2126 and H1793 SMARCA4 mutant NSCLC models[41][46]. - The selective SMARCA2 degrader achieved complete SMARCA2 degradation and cell growth inhibition in vitro[51]. - The selective CBP protein degrader targets EP300 mutated cancers, with an IND planned for 2026[61]. - Selective EP300 degradation resulted in significant anti-tumor activity across multiple hematological malignancies[74]. - Foghorn's selective EP300 degrader has demonstrated complete tumor regression in multiple myeloma models, showing improved therapeutic windows with no thrombocytopenia[82][83]. - The ARID1B program targets ARID1A mutated cancers, with over 175,000 addressable patients per year in the U.S., EU5, and Japan[89]. - The selective ARID1B degrader program is expected to provide an update in 2025, with degradation already achieved[89][98]. - The selective SMARCA2 inhibitor, FHD-909, is currently in Phase 1 trials, partnered with Lilly[102]. Financials and Collaborations - Foghorn's collaboration with Lilly includes a 50/50 global R&D cost share and U.S. economics in the low double-digit range, escalating into the teens[28]. - The collaboration with Lilly includes a $380 million upfront payment for two programs, with a 50/50 economic split in the U.S.[106][107]. - Foghorn has $243.8 million in cash and equivalents as of December 31, 2024, providing a cash runway into 2027[102]. Research and Development - Foghorn's Gene Traffic Control® Platform is designed to deliver integrated, scalable, and efficient therapeutics[10]. - Foghorn's platform has potential for therapeutic area expansion beyond oncology, including immunology and inflammation[24]. - The company anticipates multiple near-term value inflection points through 2026, including IND and Phase 1 initiations for several programs[21]. - The company is advancing multiple preclinical assets, including selective SMARCA2, CBP, EP300, and ARID1B degraders towards INDs[102]. - Foghorn's chromatin biology platform potentially impacts around 2.5 million patients, addressing more than 500,000 patients with its current pipeline[100]. - The company has identified multiple ARID1B binders with nanomolar affinity and selectivity, enhancing its drug development capabilities[90][91]. Clinical Trials and Data - FHD-909 is currently in a trial design that includes dose escalation and expansion, focusing on SMARCA4 mutated tumors[49]. - The company plans to present preclinical combination data of FHD-909 with pembrolizumab at the Annual Meeting on April 20[50].