Welcome to our dedicated page for Foghorn Therapeutics news (Ticker: FHTX), a resource for investors and traders seeking the latest updates and insights on Foghorn Therapeutics stock.
Foghorn Therapeutics Inc. (Nasdaq: FHTX) generates news as a clinical-stage biotechnology company focused on oncology medicines that target genetically determined dependencies within the chromatin regulatory system. Its updates frequently highlight progress from the Gene Traffic Control® platform, which systematically identifies and validates chromatin-based targets for small-molecule inhibitors and protein degraders.
News about FHTX often centers on its lead clinical candidate FHD-909 (LY4050784), a first-in-class oral SMARCA2 selective inhibitor being evaluated in a Phase 1 multi-center dose-escalation trial for SMARCA4-mutated cancers, with non-small cell lung cancer (NSCLC) as the primary target population. Press releases describe preclinical data, trial enrollment status, and combination strategies with standard-of-care chemotherapies, pembrolizumab, and KRAS inhibitors in NSCLC models.
Investors following FHTX can also expect regular announcements on Foghorn’s selective degrader programs. These include a selective CBP degrader with potential in EP300-mutant cancers and ER+ breast cancer, a selective EP300 degrader for hematologic malignancies such as multiple myeloma and diffuse large B-cell lymphoma, and a selective ARID1B degrader for ARID1A-mutated solid tumors. Company communications summarize preclinical efficacy, tolerability, and formulation advances, as well as milestones such as progression into toxicology or IND-enabling studies.
Another recurring theme in Foghorn’s news flow is corporate and financial activity. Releases discuss collaboration revenue from its strategic partnership with Lilly, cash and marketable securities levels, and equity financings conducted under a shelf registration statement on Form S-3, including a registered direct financing that raised approximately $50 million in gross proceeds. Updates on leadership changes in the finance function and participation in healthcare and investor conferences also appear in FHTX news.
By monitoring this news page, readers can review company-issued information on trial progress, preclinical data, financing transactions, collaborations, and corporate developments that shape the ongoing story of Foghorn Therapeutics’ chromatin-focused oncology pipeline.
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.