Foghorn Therapeutics Inc. — Form 8-K
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
Foghorn Therapeutics reported Q2 2026 results with $167.6M in cash (runway to H1 2028), collaboration revenue of $16.1M (vs. $7.6M YoY), and net loss of $7.2M (vs. $17.9M YoY). FHD-909 (LY4050784), a SMARCA2 inhibitor co-developed 50/50 with Lilly, is in Phase 1 dose escalation for SMARCA4-mutant NSCLC; first patient dosed October 2024. Preclinical data show complete tumor regression with anti-PD-1 combination and immune memory. Company advancing selective EP300 and CBP degraders toward 2027 INDs, plus novel immunology/inflammation program toward 2027 IND. CBP degrader timeline delayed due to third-party CRO operational issue.
Why this rating
FHD-909 Phase 1 is ordinary biotech progress (first-in-human still early). Strong cash position ($167.6M ≈ 97% of $172M market cap) extends runway but typical for early-stage biotech. Lilly collaboration already signed (December 2021); this is progress update, not new deal. Pipeline expansion moderate but preclinical. Delayed CBP timeline is minor setback. No material business change.
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