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Foghorn Therapeutics (FHTX) investor relations material
Foghorn Therapeutics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary5 Aug, 2025
Executive summary
Focused on precision therapeutics targeting the chromatin regulatory system, with a proprietary Gene Traffic Control platform and a pipeline of over eight programs, including FHD-909 in Phase 1 with Eli Lilly and strong enrollment in SMARCA4-mutated cancers.
Discontinued independent development of FHD-286 in AML and uveal melanoma; FHD-909 transitioned to Lilly for further development, triggering a 50/50 cost share.
Selective CBP, EP300, and ARID1B degrader programs progressing, with IND for CBP degrader targeted in 2026 and program updates for EP300 and ARID1B expected in Q4 2025.
No products approved for sale; revenue derived from collaboration agreements, notably with Lilly, including a $300M upfront payment and $80M equity investment in 2021.
Strong cash position of $198.7M as of June 30, 2025, providing runway into 2028.
Financial highlights
Collaboration revenue was $7.6M for Q2 2025, up from $6.9M in Q2 2024; $13.5M for the first half of 2025, up from $11.9M year-over-year.
Net loss for Q2 2025 was $17.9M, improved from $23.0M in Q2 2024; net loss for the first half of 2025 was $36.8M, improved from $48.0M year-over-year.
Operating expenses for Q2 2025 were $28.7M, down from $33.5M in Q2 2024, mainly due to lower R&D and G&A costs.
Cash, cash equivalents, and marketable securities totaled $198.7M as of June 30, 2025.
R&D expenses for Q2 2025 were $21.8M, down from $23.8M in Q2 2024, reflecting lower costs for discontinued programs and higher costs for Lilly-partnered FHD-909.
Outlook and guidance
Cash, cash equivalents, and marketable securities expected to fund operations and capital expenditures for at least 12 months from the reporting date, with runway into 2028.
Anticipates increased expenses as clinical and preclinical programs advance, especially with ongoing FHD-909 trials and other Lilly-partnered programs.
FHD-909 Phase 1 trial enrollment remains on track; further clinical exploration in NSCLC planned based on preclinical synergy.
IND for Selective CBP degrader targeted for 2026; program updates for EP300 and ARID1B degraders expected in Q4 2025.
Additional funding will be required to support long-term growth and development activities; may seek equity, debt, or partnership financing.
FHD-909 combination data: next development steps
CBP degrader: ER+ breast cancer strategy?
R&D spend shift: Lilly vs. wholly-owned programs?
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Next Foghorn Therapeutics earnings date
8th Annual Targeted Protein Degradation & Induced Proximity Summit29 Oct, 2025
Next Foghorn Therapeutics earnings date
8th Annual Targeted Protein Degradation & Induced Proximity Summit29 Oct, 2025
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Frequently asked questions
Foghorn Therapeutics Inc. is a clinical-stage biopharmaceutical company specializing in the discovery and development of novel therapies targeting the chromatin regulatory system, which plays a critical role in gene expression and cellular identity. The company leverages its proprietary Gene Traffic Control platform to gain an integrated understanding of how chromatin regulation affects disease, enabling it to identify and develop potential drug candidates. Foghorn's research focuses on treating genetically determined dependencies in various cancers, including hematologic malignancies and solid tumors. The company has collaborations with major pharmaceutical firms to further its therapeutic pipeline. Foghorn Therapeutics is headquartered in Cambridge, Massachusetts, and its shares are listed on the NASDAQ.
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