Foghorn Therapeutics Inc.
FHTX evidence brief
What we can confirm
- Market Cap:
- $264.9M
What it means
What to watch
Prepared research question
What matters most for FHTX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · FHTX
Foghorn Therapeutics Inc. (FHTX) is a publicly traded biotechnology company focused on developing novel therapeutics for oncology and immunology/inflammation, currently restructuring its pipeline after ending a key collaboration with Eli Lilly.
Key risk: Negative shareholders' equity
Market Cap
$264.9M
Cash Runway
—
Lead Asset
—
Next Catalyst
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Financial data as of Jun 30, 2026.
Tracking 2 clinical trials for Foghorn Therapeutics Inc..
Foghorn Therapeutics Inc. (FHTX) is a publicly traded biotechnology company focused on developing novel therapeutics for oncology and immunology/inflammation, currently restructuring its pipeline after ending a key collaboration with Eli Lilly.
- Cash & equivalents of $68.1M as of 2026-06-30 [sec].
- Total revenue of $16.1M and net loss of -$7.2M for the six months ended June 30, 2026 [sec].
- Shareholders' equity of -$81.0M as of 2026-06-30 [sec].
- Ended collaboration with Eli Lilly on FHD-909 (Phase 1) and the Selective SMARCA2 degrader program after a Phase 1 data review on September 25, 2026 [sec · filed 2026-10-01].
- Announced a ~40% workforce reduction and expects cash runway to extend into the second half of 2029 [news · published 2026-10-01].
What works
- Cash runway extended into the second half of 2029 after pipeline prioritization and workforce reduction [news · published 2026-10-01].
- Company is focusing resources on wholly owned pipeline assets, including a Selective EP300 degrader, a novel oral immunology/inflammation program, a Selective CBP degrader, and an induced proximity platform [news · published 2026-10-01].
- Research and development expenses decreased from $43.4M to $36.8M for the six months ended June 30, 2026, partly due to reduced costs in partnered programs [sec_mda · as of 2026-08-06].
What to weigh
- Shareholders' equity is negative at -$81.0M as of 2026-06-30 [sec].
- Net loss of -$7.2M for the six months ended June 30, 2026 [sec].
- Key partnered program FHD-909 (Phase 1) was halted after failing to demonstrate sufficient efficacy, and the collaboration with Lilly ended [news · published 2026-10-01].
- Workforce reduction of approximately 40% indicates significant organizational restructuring [news · published 2026-10-01].
From the filings
Quoted directly from source documents.
FHD-909 Phase 1 trial not advanced to expansion phase
“On September 25, 2026, following review of clinical data from the Phase 1 trial of FHD-909, Foghorn Therapeutics Inc. (the "Company") and Eli Lilly and Company ("Lilly") made the decision not to advance the trial into the expansion phase.”
SEC filings · October 1, 2026
Cash runway extended into second half of 2029
“Pipeline prioritization and organizational changes expected to extend cash runway into the second half of 2029, including an approximately 40% workforce reduction”
News · October 1, 2026
Catalyst timeline
- 2021-06-14 · Phase 1 start of FHD-286 — A Phase 1 study of FHD-286 in advanced hematologic malignancies began, but the program has since been discontinued.
Risks & what to watch (4)›
Key risks
- Negative shareholders' equity — Shareholders' equity of -$81.0M as of 2026-06-30 indicates accumulated losses exceed equity [sec].
- End of key partnership — Eli Lilly collaboration ended after FHD-909 Phase 1 data review, removing a major partnered program [sec · filed 2026-10-01].
- Workforce reduction impact — Approximately 40% workforce reduction may affect operational capacity and morale [news · published 2026-10-01].
- Reliance on early-stage pipeline — Wholly owned programs (EP300 degrader, CBP degrader, immunology) are preclinical or early-stage, with no near-term revenue [news · published 2026-10-01].
What to watch
- Progress of wholly owned pipeline programs (Selective EP300 degrader, oral immunology/inflammation, Selective CBP degrader) [news · published 2026-10-01].
- Cash runway updates and any further cost-saving measures as the company extends into H2 2029 [news · published 2026-10-01].
- Potential new partnerships or licensing deals following the end of the Lilly collaboration [sec · filed 2026-10-01].
- Regulatory and clinical milestones for any wholly owned candidates that may enter the clinic.
Sources: Catalysts · News · Pipeline · SEC filings · SEC MD&A · Generated October 7, 2026 · How we verify sources →
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Evidence & data
Regulatory
Financials
Short Interest
as of Apr 28, 2026- % of float
- 3.5%
- Days to cover
- 8.4
- Shares short
- 1,376,282
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
FHTX short interestGovernance
Frequently asked questions
What is the AI investment thesis for Foghorn Therapeutics Inc.?
Foghorn Therapeutics Inc. (FHTX) is a publicly traded biotechnology company focused on developing novel therapeutics for oncology and immunology/inflammation, currently restructuring its pipeline after ending a key collaboration with Eli Lilly.
Who is the CEO of Foghorn Therapeutics Inc.?
Mr. Adrian H. B. Gottschalk is the chief executive officer of Foghorn Therapeutics Inc. (FHTX).
Where is Foghorn Therapeutics Inc. headquartered?
Foghorn Therapeutics Inc. (FHTX) is headquartered in Watertown, MA, United States.
What therapeutic areas does Foghorn Therapeutics Inc. focus on?
Foghorn Therapeutics Inc. develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.