Foghorn Therapeutics
Develops oncology drugs from a Gene Traffic Control discovery platform.
Something off on this page? Send us feedback.
Profile
Builds clinical and preclinical oncology programs around chromatin-regulatory cancer dependencies, led by FHD-909 with Lilly. Revenue is collaboration-based rather than product sales, and execution depends on clinical progress, partner economics, financing runway, and regulatory clearance.
Develops precision oncology medicines aimed at chromatin-regulatory cancer dependencies. Its Gene Traffic Control platform is the internal discovery engine for targets in the chromatin regulatory system, not a commercial product line.
Lead clinical work centers on FHD-909, a selective SMARCA2 inhibitor partnered with Lilly for SMARCA4-mutant cancers such as NSCLC. Wholly owned degrader programs target CBP, EP300, and ARID1B biology in cancer settings.
Operates from Watertown, MA with a compact biotech workforce. The business has no approved commercial product in the context report; revenue comes from collaboration activity rather than product sales.
Execution is tied to clinical progress, Lilly collaboration economics, advancement of preclinical degrader programs, financing runway, and regulatory clearance for oncology drug candidates.
Company facts
Categories
Key statistics
Year to date +15.6% · Average volume (30d) 292.0K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Target |
|---|---|---|---|---|
| Feb 17, 2026 | Jefferies | Reiterate | Buy | $12 |
| Dec 18, 2025 | BTIG | Target | $11 | |
| Dec 3, 2025 | Stifel Nicolaus | Target | $12 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.25 | −$0.10 | +59.2% | $6.8M | $16.1M | +136.6% | +14.14% |
| May 7, 2026Q1 FY26 | −$0.28 | −$0.29 | −3.6% | $7.9M | $3.3M | −58.9% | +5.71% |
| Mar 11, 2026Q4 FY25 | −$0.28 | −$0.34 | −21.4% | $10.2M | $9.2M | −8.9% | −12.92% |
| Nov 5, 2025Q3 FY25 | −$0.31 | −$0.25 | +19.4% | $9.5M | $8.2M | −14.2% | 0.00% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $6.0M | $7.6M | $8.2M | $9.2M | $3.3M | $16.1M | |
| Gross profit | $6.0M | $6.7M | −$11.8M | $8.4M | $3.0M | $16.1M | |
| Operating income | −$22.9M | −$21.1M | −$18.5M | −$19.6M | −$21.6M | −$8.8M | |
| Net income | −$18.8M | −$17.9M | −$15.8M | −$21.7M | −$19.9M | −$7.2M | |
| Diluted EPS | −$0.30 | −$0.28 | −$0.25 | −$0.35 | −$0.29 | −$0.10 | |
| Gross margin | 100.0% | 88.1% | -145.3% | 91.3% | 92.7% | 100.0% | |
| Operating margin | -385.0% | -279.2% | -226.9% | -211.9% | -660.3% | -54.8% |
Fiscal years (4-quarter sums)FY21 $1.3M · FY22 $19.2M · FY23 $34.2M · FY24 $22.6M · FY25 $30.9M
Balance sheet, Jun 30, 2026Cash & short-term investments $167.6M · Total debt $43.1M · Total assets $203.4M · Shareholders' equity −$81.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 58.71M · Float 27.41M · 46.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Noubar Afeyan | 20.77M | 27.20% | 13D | Jan 13, 2026 |
| Flagship Pioneering Inc. | 12.67M | 21.59% | 13F | May 15, 2026 |
| FMR LLC | 6.79M | 11.60% | 13G | May 6, 2026 |
| BVF Inc/IL | 5.84M | 9.95% | 13F | May 15, 2026 |
| Deerfield Mgmt, L.P. | 5.14M | 8.64% | 13G | May 14, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Prelude Therapeutics
Chromatin degrader peer with SMARCA2 and KAT6A programs
- Tango Therapeutics
Synthetic-lethal oncology peer in genetically defined tumors
- IDEAYA Biosciences
Precision oncology peer across synthetic and epigenetic dependencies
- C4 Therapeutics
Targeted-protein-degradation oncology peer
- Relay Therapeutics
Small-molecule precision oncology platform peer
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Foghorn Therapeutics | $6.00 | 0.00% | $352.3M | — | — | 9.6 | +113.1% |
| Prelude Therapeutics | $5.52 | +1.04% | $311.4M | — | — | 13.9 | — |
| Tango Therapeutics | $23.49 | +0.56% | $3.80B | — | — | 70.6 | −100.0% |
| IDEAYA Biosciences | $40.11 | −0.05% | $3.81B | — | — | 16.3 | — |
| C4 Therapeutics | $3.91 | +1.54% | $425.7M | — | — | 12.1 | +2.8% |
| Relay Therapeutics | $19.10 | +1.82% | $4.11B | — | — | 397.4 | −48.3% |
| Median | — | — | 16.3 | −48.3% |