Foghorn Therapeutics (FHTX)
Develops oncology drugs from a Gene Traffic Control discovery platform.
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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
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Feb 17, 2026 | Jefferies | Reiterate | Rating: —Target: — | Target: $12 |
| Dec 18, 2025 | BTIG | Target | Target: — | Target: $11 |
| Dec 3, 2025 | Stifel Nicolaus | Target | Target: — | Target: $12 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $167.6M · Total debt $43.1M · Total assets $203.4M · Shareholders' equity −$81.0M
- Revenue
- $16.1M
- Operating income
- −$8.8M
- Net income
- −$7.2M
No dividends on record.
| Institutions | ≈ 75.84% | 45.04M shares | |
|---|---|---|---|
| 105 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 9.52% | 5.65M shares | |
| 2 holders · as of May 14, 2026 | |||
| Other | ≈ 14.64% | 8.70M shares | |
| remainder | |||
59.39M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Flagship Pioneering Inc.Institution | 21.34% | 12.67M | as of Jun 30, 2026 |
BVF Inc/ILInstitution | 9.84% | 5.84M | as of Jun 30, 2026 |
FMR LLCInstitution | 9.61% | 5.71M | as of Jun 30, 2026 |
Deerfield Mgmt, L.P.Insider | 8.65% | 5.14M | filed May 14, 2026 |
Deerfield Management Company, L.P. (Series C)Institution | 7.40% | 4.39M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Foghorn Therapeutics | $3.96 | −6.72% | $248.9M | — | — | 6.8 | +113.1% |
| Prelude Therapeutics | $4.45 | −8.25% | $276.1M | — | — | 12.3 | — |
| Tango Therapeutics | $24.78 | −2.93% | $4.16B | — | — | 77.2 | +363.6% |
| IDEAYA Biosciences | $38.23 | −3.73% | $3.78B | — | — | 16.1 | — |
| C4 Therapeutics | $3.19 | −3.78% | $366.0M | — | — | 10.4 | +2.8% |
| Relay Therapeutics | $17.70 | −8.53% | $4.24B | — | — | 409.7 | −48.3% |
| Median | — | — | 16.1 | +2.8% |