Foghorn Therapeutics Soars into 2026 with Strong Financing, Pipeline Momentum, and Bold Strategic Vision

WATERTOWN, Mass. – January 9, 2026 – Foghorn Therapeutics Inc. (Nasdaq: FHTX), a pioneer in medicines that correct abnormal gene expression, is kicking off 2026 with significant momentum. The company recently announced a substantial equity financing, robust progress across its clinical and preclinical pipeline, and a clear strategic roadmap designed to deliver transformative therapies for serious diseases.

A Resounding Vote of Confidence: $50 Million Equity Financing

In a powerful testament to its vision and execution, Foghorn successfully raised $50 million in an equity financing. This transaction, anticipated to close on January 13, 2026, saw participation from leading biotech investors, including BVF Partners, Deerfield Management, founding investor Flagship Pioneering, and a prominent biotech mutual fund. Notably, the financing was priced at a 30% premium to the closing stock price on January 9, 2026, demonstrating strong investor confidence.

Adrian Gottschalk, President and Chief Executive Officer of Foghorn, expressed his enthusiasm: “We are pleased to have raised $50 million in an equity financing, priced at a 30% premium to the closing stock price on January 9, 2026. This equity raise represents an important vote of confidence from key biotech investors in our vision and execution.”

This capital infusion significantly strengthens Foghorn’s balance sheet, extending its cash runway into the first half of 2028 with an estimated $208.9 million* in cash, cash equivalents, and marketable securities. This ensures continued investment in its innovative pipeline.

Accelerating a First-in-Class Pipeline for Unmet Needs

Foghorn’s strategic objectives for 2026 are centered on advancing its diverse pipeline, focused on developing new treatment options for cancers with significant unmet needs.

FHD-909: On Track in SMARCA4-Mutant Cancers

The company’s partnered program with Lilly, FHD-909 (LY4050784), a first-in-class oral SMARCA2 selective inhibitor, continues to advance as planned. The Phase 1 dose-escalation trial is progressing well, enrolling patients with SMARCA4 (BRG1)-mutant cancers, with a particular focus on non-small cell lung cancer (NSCLC), where prognosis remains poor.

Preclinical data has been promising, supporting enhanced anti-tumor activity of FHD-909 in combination with standard-of-care chemotherapies, anti-PD-1 pembrolizumab, and KRAS inhibitors. Pending successful Phase 1 results, Foghorn and Lilly anticipate exploring FHD-909 in combination studies for front-line NSCLC.

Proprietary Degrader Programs: Precision Targeting for Diverse Cancers

Foghorn is also making strong progress across its proprietary degrader portfolio, leveraging its Gene Traffic Control® platform to develop highly selective therapies:

• Selective CBP Degrader Program: This program, targeting CBP, an acetyltransferase crucial in several cancers, shows significant potential in ER+ breast cancer. The program is on track to be IND-ready in 2026. Preclinical data highlight potent and selective lead candidates with anti-tumor activity and an optimized long-acting injectable (LAI) formulation.
• Selective EP300 Degrader Program: Focused on hematologic malignancies and prostate cancer, this program aims to selectively degrade EP300. Preclinical studies demonstrate superior anti-tumor efficacy and tolerability over dual CBP/EP300 inhibition, with broad activity in heme sub-lineages and impressive efficacy in IMiD-resistant multiple myeloma (MM) without hematological toxicities. This program is tracking towards IND-enabling studies in 2026, with a focus on MM and diffuse large B-cell lymphoma (DLBCL).
• Selective ARID1B Degrader Program: Targeting ARID1B in ARID1A-mutated cancers (a common mutation across solid tumors), this first-in-class program is advancing towards in vivo proof of concept in 2026. It aims to exploit a major synthetic lethal target with no enzymatic activity.

A Transformative Year Ahead

“We continue to execute across our first-in-class pipeline focused on developing new treatment options for cancers with significant unmet need,” Gottschalk added. “With unique programs across our partnered and proprietary pipeline, we look forward to providing updates during the coming year.”

With a strengthened balance sheet, a pipeline poised for critical milestones, and a clear strategic vision, Foghorn Therapeutics is well-positioned for a transformative year in 2026, bringing closer the promise of novel medicines for patients in need.

*Unaudited and estimated.

About Foghorn Therapeutics:

Foghorn® Therapeutics 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, Foghorn is systematically studying, identifying, and validating potential drug targets within the chromatin regulatory system. The Company is developing multiple product candidates in oncology. Learn more at www.foghorntx.com.

Source: Original Article