GlobeNewswire·Nov 9, 2026, 7:22 AM ET

Foghorn Therapeutics Provides Third Quarter 2026 Financial and Corporate Update

Foghorn Therapeutics is advancing a novel oral small molecule for inflammatory bowel disease (IBD), with first-in-human trials targeted for the end of 2027.
The company is developing a selective EP300 degrader for multiple myeloma & other hematological malignancies, with an IND submission targeted for 2027.
Foghorn is advancing a novel induced-proximity approach to degrade high-value secreted & transmembrane proteins using small molecules.
Third-quarter 2026 collaboration revenue totaled $83.5 million, driven by a $74.1 million cumulative catch-up adjustment related to discontinued programs.
Research & development expenses for Q3 2026 were $18.8 million, down from $20.0 million in the prior year period.
General & administrative expenses for Q3 2026 were $5.8 million, a decrease from $6.7 million in the prior year period.
The company reported a net income of $58.2 million for the three months ended September 30, 2026, compared to a net loss of $15.8 million in the same period last year.
As of September 30, 2026, Foghorn held $156.2 million in cash, cash equivalents, & marketable securities, providing a runway into the second half of 2029.
Preclinical data for the EP300 degrader showed superior anti-tumor activity & safety compared to the clinical benchmark dual CBP/EP300 inhibitor inobrodib in multiple myeloma models.