Foghorn Therapeutics Inc. reported its financial results for the third quarter of 2025, revealing a collaboration revenue of $8.2 million, a slight increase from $7.8 million in the same period last year. For the nine months ending September 30, 2025, the company generated $21.7 million in collaboration revenue, up from $19.7 million in the prior year. The increase is attributed to the ongoing advancement of programs under the collaboration agreement with Eli Lilly and Company, which includes the development of the selective SMARCA2 oncology program, FHD-909.
The company’s operating expenses for the third quarter totaled $26.7 million, down from $31.7 million in the same quarter of 2024. This decline was primarily driven by reduced research and development costs, which fell to $20.0 million from $24.7 million year-over-year. The decrease in expenses is linked to the discontinuation of the independent development of FHD-286 and a reduction in facilities and IT-related costs following a lease modification. For the nine-month period, total operating expenses decreased to $84.2 million from $98.4 million, reflecting similar trends in cost management.
Foghorn's net loss for the third quarter was $15.8 million, an improvement from a net loss of $19.1 million in the same quarter of 2024. For the nine months ended September 30, 2025, the net loss was $52.6 million, compared to $67.1 million in the prior year. The company reported an accumulated deficit of $610.8 million as of September 30, 2025. The reduction in losses is attributed to lower operating expenses and increased collaboration revenue, indicating a positive trend in financial performance.
In terms of operational developments, Foghorn has continued to expand its research capabilities and workforce, with a focus on advancing its Gene Traffic Control platform. The company is currently engaged in multiple clinical and preclinical programs, including the Phase 1 clinical trial of FHD-909, which is expected to increase costs as enrollment progresses. As of September 30, 2025, Foghorn had cash, cash equivalents, and marketable securities totaling $180.3 million, which the company anticipates will be sufficient to fund operations for at least the next 12 months.
Looking ahead, Foghorn expects to continue incurring significant expenses as it advances its clinical programs and expands its research initiatives. The company will need to secure additional funding through equity offerings, collaborations, or licensing arrangements to support its growth strategy. Management remains cautious about the potential impact of market conditions and geopolitical factors on its operations and funding capabilities, emphasizing the need for ongoing financial support to achieve its long-term objectives.
About Foghorn Therapeutics Inc.
Foghorn Therapeutics is a biotechnology company focused on developing precision cancer therapies by targeting the chromatin regulatory system, which controls gene expression. Using its proprietary Gene Traffic Control platform, it identifies and drug genetically defined dependencies in cancer cells. The company’s pipeline includes novel small molecule inhibitors, degraders, and disruptors, with a focus on oncology and potential applications in other diseases.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.