Foghorn, Lilly halt FHD-909 Phase 1 expansion; FHTX cuts 40% of staff, cash runway to 2H 2029

Foghorn Therapeutics Inc.

Foghorn and Eli Lilly will not advance FHD-909 (LY4050784) into the Phase 1 expansion phase after reviewing dose-escalation data; the selective SMARCA2 degrader program also ends.
Workforce reduced by approximately 40%, with roughly 65 full-time employees expected after the cut; reduction substantially complete in Q4 2026.
Charges of about $2.3 million, all future cash, primarily one-time severance and benefits in Q4 2026; runway extended into the second half of 2029.
Remaining focus: selective EP300 degrader, novel oral immunology and inflammation program, selective CBP degrader, and induced proximity platform.
CEO Adrian Gottschalk said SMARCA2/4 synthetic lethality biology did not translate into required efficacy; no further Lilly collaboration activities anticipated.

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