Foghorn Therapeutics, Inc. ( (FHTX) ) has released its Q1 earnings. Here is a breakdown of the information Foghorn Therapeutics, Inc. presented to its investors.
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Foghorn Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing precision therapeutics by targeting the chromatin regulatory system, primarily within the oncology sector. The company leverages its proprietary Gene Traffic Control platform to discover and develop new medicines that address genetically determined dependencies.
In its latest earnings report, Foghorn Therapeutics highlighted a net loss of $18.8 million for the first quarter of 2025, an improvement from the $25 million loss in the same period of 2024. The company reported collaboration revenue of $6 million, primarily from its partnership with Eli Lilly, and noted a strong cash position with $61 million in cash and cash equivalents.
Key financial metrics from the report include a decrease in operating expenses to $28.9 million from $33.2 million in the previous year, driven by reduced research and development costs. The company also saw an increase in interest income to $2.7 million, contributing to a total other income of $4.1 million. Foghorn continues to focus on its collaboration with Eli Lilly, particularly the development of the SMARCA2 (BRM) oncology target.
Looking forward, Foghorn Therapeutics remains committed to advancing its pipeline, which includes more than eight programs with one clinical-stage drug candidate. The company aims to leverage its platform to develop additional product candidates and expand its target populations. Management is optimistic about the potential of its ongoing collaboration with Eli Lilly and the prospects of its Gene Traffic Control platform in addressing unmet medical needs in oncology.