Foghorn Therapeutics updates pipeline progress and cash position in Q3 2026 report
The company reported preclinical advances in its IBD and EP300 degrader programs alongside $156.2 million in cash and runway into the second half of 2029.
Foghorn Therapeutics Inc. provided a financial and corporate update on November 9, 2026, alongside its 10-Q filing for the quarter ended September 30, 2026.
The company is developing a novel oral small-molecule inhibitor with an initial focus in inflammatory bowel disease (IBD)1. Preclinical testing showed the compound suppressed disease activity in two colitis models, with results the company said were comparable to an antibody benchmark targeting IL-12/23p40, according to preclinical data demonstrating robust suppression of disease activity in a T-cell transfer colitis model and an IL-10 knock-out model, with efficacy comparable to an anti-IL-12/23p40 antibody positive control1. Foghorn said dose-range finding studies are expected to begin in the fourth quarter of 2026, with potential first-in-human studies by the end of 20271.
In oncology, Foghorn is developing a Selective EP300 degrader for the treatment of hematological malignancies1. The company reported that in preclinical testing the degrader showed superior anti-tumor activity with complete responses in multiple myeloma, compared to the clinical benchmark dual CBP/EP300 inhibitor inobrodib1, and separately reported better tolerability measures alongside tumor shrinkage in a myeloma model that had developed resistance to pomalidomide. Foghorn said an IND is targeted in 2027, with a focus in multiple myeloma and diffuse large B-cell lymphoma1.
The company also described a newer approach, Endoplasmic Reticulum Induced Proximity, aimed at degrading secreted and transmembrane proteins before they reach the cell surface or circulation1.
On finances, Foghorn reported $156.2 million in cash, cash equivalents, and marketable securities as of September 30, 20261, which the company said supports operations into the second half of 2029. Collaboration revenue rose to $83.5 million for the quarter, up from $8.2 million a year earlier, driven by a $74.1 million cumulative catch-up adjustment tied to the decision not to advance FHD-909 and the SMARCA2 selective degrader1.
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