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Foghorn Therapeutics

FHTX Lead: Preclinical 3 Biotech Distilled articles ↓ 15 filings & releases ↓ Cash $68.1M (Jun 30, 2026) ↓ 3 verdicts ↓ 1 timing quote ↓
Oncology Small Molecule

Market cap $111M 59.4M shares (10-Q, Jul 31, 2026) × $1.87 close Nov 6, 2026

Most recent annual filing: 2026-03-11

Catalyst timeline

6 trackedQuarter catalyst calendar →
  1. Selective ARID1B degrader readout2026Selective ARID1B degrader readout, 2026, notable
  2. Selective CBP degrader corporate update2026Selective CBP degrader corporate update, 2026, routine
  3. Selective EP300 degrader corporate update2026Selective EP300 degrader corporate update, 2026, routine
  4. Selective EP300 degrader IND filing2027Selective EP300 degrader IND filing, 2027, notable
  5. Undisclosed I&I small molecule IND2027Undisclosed I&I small molecule IND, 2027, notable
  6. Company cash runway guidance update1H 2028Company cash runway guidance update, 1H 2028, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (4 active programs)

novel oral small molecule

  • Undisclosed indication oral

Technology platforms

Gene Traffic Control · Eli Lilly and Company

Proprietary platform providing integrated and mechanistic understanding of the chromatin regulatory system; used to identify, validate and drug targets within this system; focus areas include oncology and immunology/inflammation. Enables discovery of small molecules including protein degraders, allosteric enzymatic inhibitors, and transcription factor disruptors targeting SMARCA2 (BRM), CBP, EP300, ARID1B and other undisclosed targets.

Targets: SMARCA2, CBP, EP300, ARID1B, BRM

Gene Traffic Control Platform · Eli Lilly

Chromatin biology-based drug discovery platform leveraging deep mechanistic understanding of chromatin regulatory system to identify and develop selective small molecules and degraders targeting chromatin remodeling complexes, transcription factors, and other chromatin binding proteins; focus areas include oncology and immunology/inflammation

Targets: SMARCA2, ARID1B, CBP, EP300

Gene Traffic Control · Lilly

Chromatin regulatory system platform for systematically studying, identifying, and validating drug targets within chromatin biology; focus areas include oncology and immunology & inflammation; enables discovery of inhibitors, degraders, molecular glues, RIPTACs, and induced proximity molecules

Targets: SMARCA2, SMARCA4, EP300, CBP, ARID1B

Gene Traffic Control

Proprietary scalable platform for systematically studying, identifying, and validating drug targets within the chromatin regulatory system; disease focus: oncology and immunology & inflammation

Discontinued (1)

Capital (as filed)

Cash
$68.1M cash and cash equivalents · Jun 30, 2026 (10-Q)
Operating cash flow
−$17.8M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$168M cash, runway 2H 2029 per the update of Oct 1, 2026 — the company's own words as read there, not the filed figure

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (3)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (3 calls)

Every verdict Biotech Distilled has published on Foghorn Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-07-08 Watch Foghorn Therapeutics (FHTX) — Scientific Deep Dive for FHD-909 and the Chromatin Degrader Pipeline Elite science and best-in-class partner but zero human efficacy data, no catalyst date, and the sole clinical asset is controlled entirely by Lilly — wait for the first efficacy signal before owning.
  2. 2026-08-07 Watch UPDATE: Foghorn Therapeutics (FHTX) - The CRO Ate Their Homework Watch List maintained as the CBP degrader lost its IND timeline due to a CRO operational failure, weakening the wholly-owned pipeline while FHD-909 remains a Lilly-controlled black box with no efficacy data.
  3. 2026-10-02 Avoid UPDATE: Foghorn Therapeutics (FHTX) - Lilly Opened the Envelope Downgraded to Avoid after FHD-909 failed Phase 1 on efficacy grounds implicating the SMARCA2 biology itself, Lilly ended the collaboration and milestone pool, leaving only preclinical assets with 2027 INDs at earliest.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (1 quote from 1 filing)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (15)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from Aug 6, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

6 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)