Foghorn Therapeutics Inc. Stock Price, News & Analysis

Foghorn Therapeutics Inc. (Nasdaq: FHTX), a clinical-stage biotechnology company, announced its participation in the H.C. Wainwright BioConnect Investor Conference on May 2, 2023, at the Nasdaq Headquarters in New York City. The session, featuring President and CEO Adrian Gottschalk, will take place at 1:30 p.m. ET. Foghorn is focused on developing innovative medicines that address abnormal gene expression, particularly in oncology, through its Gene Traffic Control platform. A webcast of the panel discussion will be available on Foghorn's website for 30 days following the event. For more details, visit www.foghorntx.com.

Foghorn Therapeutics Inc. (Nasdaq: FHTX) has paused enrollment in its FHD-609 clinical study targeting synovial sarcoma and SMARCB1-deleted tumors after a serious QTc prolongation event occurred in a patient at the second highest dose. The dose escalation phase is completed, and a maximum tolerated dose has been identified. The FDA has placed the study on a partial clinical hold but allows current patients to continue treatment. The company is not planning to pursue a dose expansion study independently at this time. The update highlights Foghorn's commitment to patient safety and regulatory compliance.

Foghorn Therapeutics Inc. (Nasdaq: FHTX) announced the presentation of preclinical data for its protein degrader programs at the 2023 AACR Annual Meeting from April 14–19 in Orlando, FL. Highlights include findings on FHD-286, a BRG1/BRM inhibitor, demonstrating potential efficacy as both a monotherapy and in combination treatments for acute myeloid leukemia (AML). FHD-286 has exhibited strong anti-tumor activity across various malignancies. The company will also present data on Selective EP300 and Selective CBP programs, targeting specific cancer mutations with significant unmet medical needs. Presentations will occur on key dates throughout the meeting, showcasing innovative approaches in cancer therapies.

Foghorn Therapeutics Inc. (Nasdaq: FHTX) has announced oral presentations at the 18th Annual Drug Discovery Chemistry Meeting from April 10-13, 2023, in San Diego, CA. The company will share preclinical data on FHD-609, a first-in-class protein degrader of BRD9, currently undergoing Phase 1 clinical trials for synovial sarcoma and SMARCB1-loss tumors. Initial safety and efficacy data is expected mid-2023. Additionally, Foghorn will showcase its innovative platform that targets transcription factors, illustrating how it identifies protein interactions driving disease. The presentation titled Targeting Transcription Factor – BAF Interactions in Cancer will occur on April 13, alongside a presentation on FHD-609's discovery. This meeting emphasizes Foghorn's commitment to developing therapies addressing critical unmet needs in oncology.

Foghorn Therapeutics (Nasdaq: FHTX) provided a corporate update highlighting ongoing Phase 1 studies for drug candidates FHD-286 and FHD-609 in metastatic uveal melanoma and synovial sarcoma, respectively, with initial efficacy data expected in mid-2023. The company has a robust preclinical pipeline with potential for six new IND applications over the next four years. As of December 31, 2022, Foghorn reported $345.8 million in cash, ensuring financial stability until at least the second half of 2025. Significant revenue growth was noted, with collaboration revenues increasing to $19.2 million in 2022, up from $1.3 million in 2021, although net losses also increased to $108.9 million.

Foghorn Therapeutics Inc. (Nasdaq: FHTX) will present at Cowen’s 43rd Annual Health Care Conference from March 6-8, 2023, in Boston, MA. The company is focused on developing a new class of medicines through its Gene Traffic Control® platform, primarily targeting oncology. CEO Adrian Gottschalk will discuss their leukemia panel on March 8 at 12:50 p.m. ET. A webcast of the panel will be available on the company's website for up to 30 days. Foghorn's innovative approach aims to alter gene expression to treat serious diseases, enhancing the lives of many patients.

Foghorn Therapeutics (FHTX) announced its 2023 strategic goals, emphasizing the advancement of its clinical pipeline, including the Phase 1 studies of FHD-286 for metastatic uveal melanoma and FHD-609 for synovial sarcoma. Initial efficacy and safety data for both studies are expected in mid-2023. The company anticipates submitting at least six new INDs over the next four years, supported by a strong cash position of $373.5 million, projected to last into the second half of 2025.