Foghorn Therapeutics Inc. Stock Price, News & Analysis

Foghorn Therapeutics (Nasdaq: FHTX) received IND clearance for FHD-609, a targeted protein degrader for synovial sarcoma. This marks a significant milestone alongside advancement in their therapeutic pipeline aimed at the chromatin regulatory system. FHD-609 is Foghorn's second drug to enter clinical trials, with initial data expected in early 2022. The company also received IND clearance for FHD-286, targeting relapsed AML and metastatic uveal melanoma. Financially, Foghorn reported cash and equivalents of $160.9 million as of March 31, 2021, down from $185.8 million at year-end 2020.

Foghorn Therapeutics (FHTX) announced the appointment of Ian Smith to its Board of Directors, effective April 27, 2021. Smith, a seasoned biotechnology leader, has been advising Foghorn since 2020 on business development and financing strategies. CEO Adrian Gottschalk expressed optimism over Smith's experience in capital formation and business growth, which is expected to enhance the company’s focus on chromatin regulatory systems. Smith brings a wealth of experience from positions at Viacyte and Vertex Pharmaceuticals, which may contribute to Foghorn's potential therapeutic breakthroughs in oncology.

Foghorn Therapeutics Inc. (Nasdaq: FHTX) issued a corporate update, revealing that the company has received IND clearances for its therapeutic candidate FHD-286. Initial clinical studies for FHD-286 in relapsed/refractory AML and metastatic uveal melanoma are set to begin, with data expected by year-end 2021. Additionally, FHD-609’s IND submission is on track for Q2 2021. The company successfully raised approximately $135.2 million through an IPO and reported cash holdings of $185.8 million as of December 31, 2020, up significantly from $15 million in the previous year.

Foghorn Therapeutics (Nasdaq: FHTX) announced its participation in the AACR Annual Meeting 2021, occurring virtually from April 10-15. The company will present a poster titled ‘Discovery of novel BAF inhibitors for the treatment of transcription factor-driven cancers’, available on demand from 8:30 AM on April 10. Additionally, Foghorn will chair a panel on next-generation epigenetic drugs on April 14. Preclinical data highlight the potential of BAF ATPase inhibition, particularly for uveal melanoma, paving the way for future human studies.

Foghorn Therapeutics (Nasdaq: FHTX) announced its participation in the AACR Annual Meeting 2021, scheduled for April 10-15. The company will present a poster titled Discovery of novel BAF inhibitors for the treatment of transcription factor-driven cancers, available on demand from 8:30 AM on April 10. Furthermore, Foghorn will chair a panel discussion on Next-Generation Epigenetic Drugs on April 14, featuring an accompanying presentation on targeting the BAF complex in cancer. These initiatives align with Foghorn's focus on developing medicines targeting chromatin regulatory systems.

Foghorn Therapeutics (Nasdaq: FHTX) announced that Dr. Sam Agresta, Chief Medical Officer, will participate in a Leukemias panel discussion at the Cowen 41st Annual Healthcare Conference at 11:40 a.m. ET on March 3, 2021. The company focuses on developing innovative medicines targeting genetically determined dependencies within the chromatin regulatory system. Foghorn uses its Gene Traffic Control® platform to identify and validate potential oncology drug targets, aiming to enhance treatment options for patients.

Foghorn Therapeutics (FHTX) reported its Q3 2020 financial results, highlighting a net loss of $18.4 million, or $3.12 per share, compared to a loss of $13.1 million, or $3.05 per share, in Q3 2019. The company successfully completed a $135 million IPO and a collaboration with Merck, securing an upfront payment of $15 million. FHTX is on track to submit INDs for its compounds FHD-286 and FHD-609 by the end of 2020 and mid-2021, respectively. Cash and equivalents increased to $74.6 million from $15 million at year-end 2019.

Foghorn Therapeutics Inc. (Nasdaq: FHTX) announced the appointment of Michael LaCascia as its Chief Legal Officer. LaCascia brings extensive experience in corporate and governance matters from his prior positions at Q-State Biosciences and Vertex Pharmaceuticals. His expertise is expected to bolster Foghorn's leadership as it transitions to a clinical-stage company, focusing on developing innovative medicines targeting chromatin regulatory systems. The company anticipates filing an IND for its first oncology program later this year.

Foghorn Therapeutics announced the pricing of its initial public offering of 7,500,000 shares at $16.00 each, aiming to raise approximately $120 million. The underwriters have a 30-day option to purchase an additional 1,125,000 shares. Trading begins on October 23, 2020, under the ticker symbol 'FHTX'. The offering is set to close on October 27, 2020, subject to closing conditions. Goldman Sachs, Morgan Stanley, and Cowen are leading the offering, with a registration statement effective since October 22, 2020.