Foghorn Therapeutics Q2 collaboration revenue rises, loss narrows

Overview

• Foghorn Therapeutics Q2 collaboration revenue rises to $7.6 mln, driven by Lilly partnership

• Net loss for Q2 decreases to $17.9 mln compared to $23.0 mln last year

• Co maintains strong cash position with $198.7 mln, runway into 2028

Outlook

• Company has cash runway into 2028

• FHD-909 Phase 1 trial remains on track

Result Drivers

• FHD-909 TRIAL - Phase 1 trial for SMARCA4-mutated cancers enrolling well, per CEO Adrian Gottschalk

• SYNERGISTIC DATA - Preclinical data shows FHD-909 enhances anti-tumor activity with pembrolizumab and KRAS inhibitors

• DEGRADER PROGRAMS - Progress in selective CBP, EP300, and ARID1B degrader programs with updates expected in Q4 2025

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Foghorn Therapeutics Inc is $11.50, about 55.3% above its August 4 closing price of $5.14

Press Release: ID:nGNX7pCXN1