We’re thrilled to share some exciting news from Foghorn Therapeutics! As we kick off 2026, the company has announced a significant equity financing round, reinforcing its robust financial position and propelling its innovative pipeline forward. This isn’t just about capital; it’s a powerful vote of confidence in Foghorn’s mission to pioneer a new class of medicines targeting genetically determined dependencies within the chromatin regulatory system.
A Strong Vote of Confidence: $50 Million Equity Financing
Foghorn has successfully raised $50 million in an equity financing, set to close on January 13, 2026. This round saw participation from leading biotech investors, including BVF Partners, Deerfield Management, founding investor Flagship Pioneering, and a prominent biotech mutual fund. What’s even more impressive? The shares were priced at a 30% premium to the closing stock price on January 9, 2026, underscoring the deep belief investors have in Foghorn’s vision and execution.
Adrian Gottschalk, President and CEO of Foghorn, emphasized this sentiment: “We are pleased to have raised $50 million in an equity financing, priced at a 30% premium… This equity raise represents an important vote of confidence from key biotech investors in our vision and execution.”
Pipeline Powerhouse: Accelerating Progress Across Key Programs
This fresh capital is fueling continued progress across Foghorn’s first-in-class pipeline, focused on addressing cancers with significant unmet needs. Here’s a look at the exciting advancements:
FHD-909 (LY4050784): A Beacon for SMARCA4-Mutant Cancers
- Phase 1 Advancing: Our partnered program with Lilly, FHD-909, a first-in-class oral SMARCA2 selective inhibitor, is on track with its Phase 1 dose-escalation trial. This trial is enrolling patients with SMARCA4 (BRG1)-mutant cancers, with a primary focus on non-small cell lung cancer (NSCLC), where prognosis is often poor.
- Promising Preclinical Data: Preclinical studies show FHD-909’s potential for enhanced anti-tumor activity when combined with standard-of-care chemotherapies, anti-PD-1 pembrolizumab, and KRAS inhibitors. Pending successful Phase 1 results, combination studies in front-line NSCLC are anticipated.
- Strong Partnership: The strategic collaboration with Lilly includes a 50/50 U.S. co-development and co-commercialization agreement for this program and other discovery efforts.
Unlocking New Frontiers with Selective Degrader Programs
Foghorn’s proprietary Gene Traffic Control® platform continues to yield groundbreaking selective degrader programs, targeting challenging proteins with precision:
- Selective CBP Degrader: IND-Ready in 2026!
- This program selectively targets CBP, an acetyltransferase with lineage dependencies in several cancers, including ER+ breast cancer.
- Preclinical data from October 2025 demonstrated a highly potent and selective lead candidate (CBPd-171) with anti-tumor activity in EP300 mutant solid tumors and CBP-dependent cancers.
- Crucially, it showed no impact on platelet counts and spared megakaryocytes, addressing a common challenge with dual CBP/EP300 inhibition.
- An optimized Long Acting Injectable (LAI) formulation is in development for convenient administration.
- Selective EP300 Degrader: IND-Enabling Studies in 2026!
- Our selective EP300 degrader is showing immense potential for treating hematological malignancies (like Diffuse Large B-cell Lymphoma and Multiple Myeloma) and prostate cancer.
- Preclinical data highlighted broad anti-tumor activity across over 70% of heme sub-lineages tested, with impressive efficacy in MM models without hematological toxicities.
- This program also shows promise in IMiD-resistant MM cell lines, opening doors for widespread potential in combinations.
- Selective ARID1B Degrader: Towards In Vivo Proof of Concept in 2026!
- This first-in-class program targets and degrades ARID1B in ARID1A-mutated cancers, a major synthetic lethal target implicated in up to 5% of all solid tumors (e.g., endometrial, gastric, NSCLC).
- Progress includes the development of VHL and cereblon-based bifunctional degraders with potential for oral delivery, achieving selective ARID1B degradation and modulation of downstream target genes.
A Strong Foundation for Continued Investment
With this successful financing, Foghorn boasts a robust balance sheet. The company anticipates having approximately $208.9 million in cash, cash equivalents, and marketable securities as of January 13, 2026. This strong financial position allows for sustained investment in the pipeline and extends Foghorn’s cash runway into the first half of 2028, ensuring the continuous pursuit of groundbreaking therapies.
Looking Ahead: A Transformative Year for Patients
Foghorn Therapeutics is not just developing medicines; it’s pioneering a new frontier in treating serious diseases by correcting abnormal gene expression. With a strengthened balance sheet and a rapidly advancing pipeline, 2026 is set to be a transformative year. We eagerly anticipate providing further updates as these innovative programs move closer to delivering much-needed new treatment options for patients.
Stay tuned to our blog and follow us on X and LinkedIn for the latest advancements!
Source: Original Article
