Foghorn Therapeutics Raises $50 Million to Advance Cancer Treatments
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 17h ago
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Source: Newsfilter
- Successful Financing: Foghorn Therapeutics has secured $50 million in equity financing with investors including BVF Partners, expected to close on January 13, 2026, at a 30% premium, reflecting strong investor confidence in the company's strategic vision.
- Strong Financial Position: Post-financing, the company anticipates having approximately $208.9 million in cash and equivalents, ensuring continued investment in its pipeline and extending its cash runway into the first half of 2028, thereby enhancing its viability in the competitive biotech landscape.
- Clinical Trial Progress: The Phase 1 dose-escalation trial of FHD-909 is advancing as planned, targeting patients with SMARCA4-mutant non-small cell lung cancer, which is expected to provide new treatment options and address significant unmet medical needs in this area.
- Drug Development Outlook: Foghorn's selective CBP and EP300 degrader programs are on track to be IND-ready in 2026, showcasing the company's innovative potential in oncology and the possibility of transforming existing treatment paradigms.
Analyst Views on FHTX
Wall Street analysts forecast FHTX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FHTX is 11.00 USD with a low forecast of 9.00 USD and a high forecast of 13.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
7 Buy
0 Hold
0 Sell
Strong Buy
Current: 5.230
Low
9.00
Averages
11.00
High
13.00
Current: 5.230
Low
9.00
Averages
11.00
High
13.00
About FHTX
Foghorn Therapeutics Inc. is a clinical-stage, precision therapeutics biotechnology company. The Company is discovering and developing a novel class of medicines targeting genetically determined dependencies within the chromatin regulatory system. Through its proprietary scalable Gene Traffic Control platform, it is systematically studying, identifying and validating potential drug targets within the chromatin regulatory system. The Company is also developing multiple product candidates in oncology. The Gene Traffic Control platform provides an integrated and mechanistic understanding of how the various components of the chromatin regulatory system interact, allowing to identify, validate and potentially drug targets within this system. Its platform enables to produce components of the chromatin regulatory system at scale, thereby allowing to identify these genetic dependencies, understand their mechanism and target their vulnerabilities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
