Foghorn Therapeutics Inc

Foghorn Therapeutics and Eli Lilly will not advance their FHD-909 program into clinical development expansion following a review of Phase 1 data, and will also halt their Selective SMARCA2 degrader program with no further collaboration activities expected. Foghorn will instead prioritize its wholly owned pipeline, including a Selective EP300 degrader, an oral immunology and inflammation program, a Selective CBP degrader, and its induced proximity platform. The pipeline reprioritization and organizational changes, including an approximately 40% workforce reduction, are expected to extend Foghorn's cash runway into the second half of 2029; the company had $167.6 million as of June 30, 2026. Preclinical data for the EP300 degrader showed superior anti-tumor activity with complete responses compared to the clinical benchmark dual CBP/EP300 inhibitor inobrodib, along with safety in body weight loss and platelet counts and tumor regression in a multiple myeloma xenograft model of acquired pomalidomide resistance. Foghorn is targeting an FDA Investigational New Drug application for human trials in 2027, focused on multiple myeloma and diffuse large B-cell lymphoma. FHTX shares were down 27.17% at $2.60 on Thursday, trading at a new 52-week low.