Foghorn Therapeutics Highlights January Equity Financing, Program Progress and Strategic Objectives for 2026

Core Insights - Foghorn Therapeutics has successfully raised $50 million in equity financing, which is set to close on January 13, 2026, at a 30% premium to the stock price on January 9, 2026, indicating strong investor confidence in the company's vision and execution [2][3] - The company is advancing its Phase 1 dose-escalation trial of FHD-909, targeting SMARCA4-mutant cancers, particularly non-small cell lung cancer (NSCLC), which has a poor prognosis [1][4] - Foghorn is on track to make its Selective CBP and EP300 degrader programs IND-ready in 2026, with promising preclinical data supporting their efficacy in various cancers [1][10][11] Financial Overview - The company has a strong balance sheet with approximately $208.9 million in cash, cash equivalents, and marketable securities, which will support ongoing investments in its pipeline and extend its cash runway into the first half of 2028 [1][12] - The recent equity financing will allow the company to continue its strategic objectives and development of its oncology pipeline [2][3] Pipeline Development - FHD-909 is a first-in-class oral SMARCA2 selective inhibitor, showing high selectivity and potential for inducing tumor death while sparing healthy cells, particularly in SMARCA4-mutant cancers [4] - The Selective CBP degrader program is focused on ER+ breast cancer and aims to overcome challenges associated with dual inhibition of CBP/EP300, while the Selective EP300 degrader program targets hematological malignancies [6][7] - The Selective ARID1B degrader program is also advancing, targeting ARID1A-mutated cancers, with potential for oral delivery and selective degradation [8][16] Strategic Collaborations - Foghorn is collaborating with Lilly on a 50/50 co-development and co-commercialization agreement for its selective SMARCA2 oncology program, which includes both a selective inhibitor and a selective degrader [5]