Foghorn Therapeutics (NasdaqGM:FHTX) 2025 Conference Transcript

Summary of Foghorn Therapeutics Conference Call Company Overview - Company: Foghorn Therapeutics (NasdaqGM:FHTX) - Industry: Clinical-stage oncology focused on chromatin biology - Key Focus: Regulating gene expression through drug discovery targeting previously undrugged proteins [3][4] Core Programs and Partnerships - Main Compound: Partnership with Eli Lilly focusing on SMARCA2, established with a deal worth approximately $300 million upfront and $80 million in equity [4][9] - Current Status: In a 50/50 cost-sharing phase for the SMARCA2 program, with a decision on dose expansion expected in the first half of 2026 [9][13] - Other Proprietary Programs: Targets include CBP, EP300, and ARID, with ongoing development towards IND submissions over the next 12-18 months [4][10] Drug Discovery and Development - Unique Platform: Foghorn has developed a platform to study large protein assemblies, enabling selective drugging of challenging targets like SMARCA2 and SMARCA4 [6][8] - Challenges: Historically, finding selective drugs for SMARCA2 and SMARCA4 has been difficult due to their high similarity (90% identical) [8][10] - Efficacy Benchmarks: For SMARCA4 mutant non-small cell lung cancer, the response rate is significantly lower (20%) compared to wild-type patients (40+%) [15][16] Clinical Insights - Current Trials: The SMARCA2 inhibitor (FHD-909) is in a phase one dose escalation study targeting patients with SMARCA4 mutations [12][13] - Expected Outcomes: Aiming for a response rate of at least 15% in the fourth-line setting, with plans to move into frontline settings based on preclinical data [17][20] Competitive Landscape - Resistance Mechanisms: No known resistance mechanisms for SMARCA2 inhibitors or degraders have been identified yet [21] - Screening Process: SMARCA4 mutations are routinely screened in major cancer centers, facilitating patient enrollment in clinical trials [23] Future Directions - Combination Therapies: Plans to explore combinations with pembrolizumab and chemotherapy for enhanced efficacy in SMARCA4 mutant patients [24][25] - Pipeline Development: Focus on multiple myeloma for EP300 degraders, with IND-enabling studies expected by late 2026 [29][30] Financial Position - Cash Reserves: As of Q3, Foghorn has $180 million, projected to last into early 2028, covering ongoing programs and potential future financing needs [39] Strategic Partnerships - Partnership Philosophy: Foghorn is open to partnerships for proprietary programs, emphasizing the need for strategic capabilities that small biotechs may lack [36][37] Conclusion - Outlook: Foghorn Therapeutics is positioned for significant developments in oncology, particularly with its innovative approach to chromatin biology and strategic partnerships, while maintaining a solid financial foundation for future growth [39][40]