Foghorn Therapeutics Drops Lilly SMARCA2 Programs and Cuts Workforce 40%

Did Foghorn and Lilly stop FHD-909?

Yes. After reviewing Phase 1 dose-escalation data, the companies decided not to advance FHD-909 into clinical expansion because its efficacy was insufficient despite a favorable safety profile and target exposure. GlobeNewswire

Orbitrum Investor Impact

Do Foghorn and Lilly expect further collaboration activity?

No. Foghorn said the selective SMARCA2 degrader program will also not advance and the companies do not anticipate further collaboration activities. GlobeNewswire

Why does the 40% workforce reduction matter for investors?

The restructuring is intended to lower spending and fund Foghorn's priority wholly owned programs into the second half of 2029. GlobeNewswire

How much liquidity did Foghorn have before the restructuring?

Foghorn reported $167.6 million of cash, cash equivalents and marketable securities as of June 30, 2026, with its previous guidance indicating runway into the first half of 2028. SEC

How does this change the FHTX investment case?

The decision removes a clinical-stage partnered asset and concentrates Foghorn's development case on wholly owned programs including EP300 and CBP degraders, an oral immunology and inflammation program, and its induced proximity platform. GlobeNewswire+1

What should investors watch next?

The key milestones are progress toward the clinic for Foghorn's prioritized proprietary programs and whether the reduced cost structure supports management's stated runway into the second half of 2029. GlobeNewswire