Foghorn Therapeutics reports Q1 EPS (30c), consensus (29c)

Reports Q1 revenue $5.9M, consensus $4.97M. “In the first quarter, we continued to progress our novel partnered and proprietary programs, and we were pleased to share more details on the pipeline progress at this year’s AACR annual meeting. The FHD-909 Phase 1 dose escalation trial is proceeding apace. Importantly, the FHD-909 combination data with chemotherapies, KRAS inhibitors and pembrolizumab, that was shared at AACR, reinforces the expansive potential of the selective SMARCA2 inhibitor program in non-small cell lung cancer,” said Adrian Gottschalk, President and Chief Executive Officer of Foghorn. “Initial data defining potential combination opportunities in ER+ breast cancer for our Selective CBP degrader program are encouraging and support potential beyond EP300-mutant cancers. Our Selective EP300 degrader program continues to show anti-proliferative activity in a broad range of hematological malignancies. And lastly, as previously reported, we have achieved selective degradation for our Selective ARID1B program and look forward to providing a program update in 2025. These advancements with FHD-909 and our pipeline programs underscore our track record and leadership in engineering promising selective therapeutics. With our robust balance sheet and cash runway into 2027, we are in a strong position to deliver significant value with differentiated, high-impact therapeutics in 2025 and beyond.”