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]

Core Insights - Foghorn Therapeutics is advancing its FHD-909 (LY4050784) in a Phase 1 dose escalation trial targeting SMARCA4 (BRG1) mutated cancers, primarily focusing on non-small cell lung cancer (NSCLC) [1][11] - The company presented data at the AACR Annual Meeting showing synergistic effects of FHD-909 in combination with pembrolizumab and KRAS inhibitors, supporting further clinical exploration [1][11] - Foghorn has a strong financial position with $220.6 million in cash and equivalents as of March 31, 2025, providing a cash runway into 2027 [1][19] Pipeline Progress - FHD-909 is a first-in-class oral SMARCA2 selective inhibitor, demonstrating high selectivity over SMARCA4, with potential applications in various cancers [7][16] - The Selective CBP degrader program is showing promise in ER+ breast cancer, with preclinical data indicating combinatorial benefits with existing therapies [12][9] - The Selective EP300 degrader program is advancing, showing anti-proliferative activity in hematological malignancies, with updates expected in H2 2025 [10][18] Corporate Developments - Foghorn appointed Neil Gallagher, M.D., Ph.D., and Stuart Duty to its Board of Directors, enhancing its leadership team with extensive experience in drug development and finance [4] - The company hosted its second annual Chromatin Regulation Summit, focusing on targeted protein degradation and induced proximity, featuring industry experts [5][6] Financial Performance - Collaboration revenue increased to $6.0 million for Q1 2025, up from $5.1 million in Q1 2024, driven by advancements in programs under the Lilly collaboration [19] - Research and development expenses decreased to $21.6 million in Q1 2025 from $25.5 million in Q1 2024, attributed to reduced costs in various areas [19] - The net loss for Q1 2025 was $18.8 million, an improvement from a net loss of $25.0 million in Q1 2024 [19][22]

Core Insights - Foghorn Therapeutics Inc. has elected Neil Gallagher, M.D., Ph.D., and Stuart Duty to its Board of Directors, enhancing its leadership team with experienced professionals in biotechnology and finance [1][2]. Company Overview - Foghorn Therapeutics is a clinical-stage biotechnology company focused on developing a new class of medicines that correct abnormal gene expression to treat serious diseases, particularly in oncology [1][5]. - The company utilizes its proprietary Gene Traffic Control® platform to identify and validate drug targets within the chromatin regulatory system [5]. Leadership Experience - Dr. Neil Gallagher has over 20 years of experience in drug development across various therapeutic areas, including oncology, and currently serves as President and Head of Research and Development at Syndax Pharmaceuticals [3]. - Stuart Duty brings over 30 years of experience in finance and investment banking within the biotechnology sector, having held senior roles at Guggenheim Securities and other firms [4]. Strategic Goals - The addition of Gallagher and Duty to the Board is expected to leverage their strategic insights to advance Foghorn's pipeline, which aims to develop selective therapies for challenging cancer targets [2][4]. - Dr. Gallagher expressed confidence in Foghorn's potential to address unmet medical needs and change treatment paradigms for multiple cancer types [2].