Foghorn Therapeutics Inc. - FHTX STOCK NEWS

Foghorn Therapeutics reports Q3 2024 financial results and pipeline updates. Key highlights include: First patient dosed with FHD-909 in Phase 1 trial for SMARCA4 mutated NSCLC; Topline Phase 1 data for FHD-286 plus decitabine in AML expected by year-end 2024; IND-enabling studies for Selective CBP degrader program to begin by year-end. Financial position: $267.4M cash runway into 2027; Q3 revenue at $7.8M (down from $17.5M in Q3 2023); Net loss increased to $19.1M from $14.3M year-over-year.

Foghorn Therapeutics (Nasdaq: FHTX) has announced the dosing of the first patient with FHD-909, a first-in-class oral SMARCA2 selective inhibitor, in a Phase 1 trial for SMARCA4 mutated solid tumors. The primary target population is non-small cell lung cancer (NSCLC). This trial is part of a U.S. 50/50 co-development and co-commercialization collaboration with Lilly, who leads the clinical development.

FHD-909 is a highly potent and selective compound targeting SMARCA2 over SMARCA4. The Phase 1 open-label, multicenter trial will assess safety, tolerability, and initial efficacy in patients with locally advanced or metastatic solid tumors harboring SMARCA4 alterations. Preclinical studies have shown promising results, including robust anti-tumor activity and favorable tolerability.

Foghorn Therapeutics Inc. (Nasdaq: FHTX), a clinical-stage biotechnology company, has announced its participation in investor meetings at the BMO Oncology Summit on October 8, 2024, in New York, NY. The company is pioneering a new class of medicines that aim to correct abnormal gene expression to treat serious diseases.

Foghorn's Gene Traffic Control® platform and resulting broad pipeline focus initially on oncology but have the potential to address a wide spectrum of diseases. This innovative approach could potentially transform the lives of many patients suffering from various conditions.

Foghorn Therapeutics (Nasdaq: FHTX) has appointed Anna Rivkin, Ph.D., as Chief Business Officer effective September 3, 2024. Dr. Rivkin brings over 20 years of experience in complex business transactions across multiple disease areas. Previously, she held leadership roles at Bristol Myers Squibb, overseeing strategic transactions as Vice President of Business Development. Dr. Rivkin has led transactions valued at over $35 billion, including the $14 billion purchase of Karuna Therapeutics and the $13 billion purchase of MyoKardia Therapeutics.

Foghorn, a clinical-stage biotechnology company, focuses on developing medicines that correct abnormal gene expression to treat serious diseases. The company views Dr. Rivkin's appointment as strategic for leveraging its pipeline and platform potential during its growth phase.

Foghorn Therapeutics (Nasdaq: FHTX), a clinical-stage biotech company, announced its participation in two upcoming investor conferences in September 2024. The company will attend the Wells Fargo Healthcare Conference on September 4 for one-on-one meetings. At the Morgan Stanley 22nd Annual Global Healthcare Conference on September 6, Foghorn's President and CEO, Adrian Gottschalk, will give a presentation at 8:30 a.m. EDT and participate in one-on-one meetings.

Foghorn is pioneering a new class of medicines that correct abnormal gene expression to treat serious diseases, with an initial focus on oncology. Their Gene Traffic Control® platform and broad pipeline aim to transform lives across various diseases. A webcast of the Morgan Stanley presentation will be available on the company's website for 30 days.

Flagship Pioneering and Quotient Therapeutics have announced a collaboration with Pfizer to identify potential novel targets for cardiovascular and renal diseases. This agreement, initiated under the strategic partnership between Flagship Pioneering and Pfizer, leverages Quotient's Somatic Genomics platform to analyze somatic mutations in diseased patient tissue.

The collaboration involves two research programs aimed at discovering and developing transformative therapies. Pioneering Medicines, Flagship's in-house drug discovery unit, will lead the strategic partnership with Pfizer. This initiative represents a significant milestone in the partnership and highlights the potential of collaboration to accelerate therapeutic innovation in addressing cardiovascular and renal diseases, which are leading causes of mortality and morbidity worldwide.

Foghorn Therapeutics (Nasdaq: FHTX) released its Q2 2024 financial and corporate update, highlighting key advancements and financial status. The company reported a successful $110 million financing, boosting cash reserves to $285.2 million, extending expected cash runway into 2027.

Clinical milestones include anticipated topline Phase 1 data for FHD-286 in AML patients in Q4 2024, and the dosing of the first patient in the Phase 1 trial for SMARCA2 selective inhibitor FHD-909 in H2 2024. IND-enabling studies for the Selective CBP degrader program are also on track for year-end 2024.

Financial highlights show collaboration revenue of $6.9 million, up from $5.6 million YoY. R&D expenses decreased to $23.8 million from $29.2 million, and G&A expenses dropped to $7.3 million from $8.4 million. The net loss narrowed to $23.0 million from $29.5 million YoY.

Foghorn continues to leverage its Gene Traffic Control platform to develop innovative oncology treatments.

Flagship Pioneering has unveiled Abiologics, a company developing a new class of supranatural and programmable medicines called Synteins™. These are computationally-generated and synthesized with novel building blocks, aiming to overcome limitations of traditional biologics. The Abiologics platform uses generative AI and high-throughput chemical protein synthesis to create Synteins with extraordinary properties.

Flagship has initially committed $50 million to advance the platform and develop a pipeline of medicines, focusing on oncology and immunology. Synteins can be programmed to interact with virtually any therapeutic target while evading the body's natural defenses, offering advantages such as less frequent dosing, oral delivery, and access to previously unreachable parts of the body.

Flagship Pioneering, a bioplatform innovation company, announced it has raised $3.6 billion to foster the growth of 25 groundbreaking companies in human health, sustainability, and AI. This includes $2.6 billion into Fund VIII and $1 billion from sector-specific partnerships, bringing the total capital raised since 2021 to $6.4 billion. The company now operates with an aggregate capital pool of $10.9 billion and manages $14 billion in assets.

Flagship's recent partnerships include collaborations with Pfizer, Samsung, Thermo Fisher Scientific, and Novo Nordisk. These alliances are part of Flagship's Innovation Supply Chain Partnership (ISC) model, which maximizes innovation across various stages of product development.

The company has expanded globally, establishing hubs in London and Singapore to enhance its R&D collaborations and access international talent. Flagship has also bolstered its leadership team with several key hires and promotions to drive its growth and innovation strategy.