Foghorn Therapeutics Inc. develops precision therapeutics for serious diseases by targeting the chromatin regulatory system and correcting abnormal gene expression. The company’s news centers on oncology programs derived from its Gene Traffic Control® platform, including FHD-909, a selective SMARCA2 inhibitor for SMARCA4-mutant cancers, and selective CBP, EP300 and ARID1B degrader programs across ER+ breast cancer, multiple myeloma and other hematologic malignancies.
Recurring updates also cover the company’s collaboration with Lilly, preclinical data presentations, financial results, registered direct financing activity, executive appointments and investor-conference participation.
Foghorn Therapeutics (Nasdaq: FHTX), a clinical-stage biotech company focused on treating serious diseases by correcting abnormal gene expression, announced its participation in two major investor conferences in June 2024. The Jefferies Global Healthcare Conference will feature Adrian Gottschalk, CEO, presenting on June 5, 2024, at 3:30 p.m. ET in New York. The Goldman Sachs 45th Annual Global Healthcare Conference will also include a presentation by Gottschalk on June 10, 2024, at 3:20 p.m. ET in Miami Beach. Both presentations will be accessible via webcast for 30 days on the company's website.
Foghorn Therapeutics has successfully closed a registered direct offering, raising approximately $110 million. This funding will bolster the company’s platform and advance its diverse pipeline of treatments for diseases, especially in oncology. The offering, which includes new and existing investors like BVF Partners and Flagship Pioneering, strengthens Foghorn's balance sheet, extending its cash runway into 2027. With $310 million in cash, cash equivalents, and short-term investments, the company is well-positioned for upcoming data readouts and clinical milestones. The offering priced 12,743,039 common shares at $5.51 each, and pre-funded warrants to buy 7,220,794 shares at $5.5099 each.
Foghorn Therapeutics (FHTX) has announced a registered direct offering of 12,743,039 shares of its common stock at $5.51 per share and pre-funded warrants for 7,220,794 shares at $5.5099 per warrant. This offering aims to raise approximately $110 million in gross proceeds. The closing is expected around May 22, 2024, pending customary conditions. Proceeds will be used for advancing preclinical and clinical programs and general corporate purposes. Jefferies, TD Cowen, and Evercore ISI are managing the offering. The securities are offered pursuant to an effective shelf registration statement filed with the SEC.
Foghorn Therapeutics Inc. provided a financial and corporate update for Q1 2024. The company showcased strong preclinical anti-tumor activity in multiple pipeline programs and progress in AML and NSCLC studies, with data expected in the second half of 2024. IND filing for a first-in-class oral BRM inhibitor was submitted, along with updates on selective CBP and EP300 degrader programs. The company presented promising data at AACR, appointed a new CFO, and reported cash reserves of $206.7 million.
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