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Foghorn Therapeutics Announces CFO Departure

Key Takeaway: Foghorn Therapeutics has announced that Chief Financial Officer Allan Reine will depart the company to pursue another opportunity. His last working day will be January 16, 2024. The company is currently searching for a successor to fill the position. The leadership at Foghorn, including CEO Adrian Gottschalk, expressed gratitude for Reine's contributions during his tenure.
Price reaction · baseline $6.45 (2024-01-02 close) · hit after-hours · 1 other FHTX headline(s) in the window, move may be shared
day 0 close
-6.8%
day 1 · peak
-13.2%
day 3
-7%

Market Sentiment Analysis

POSITIVE FACTORS

  • The CFO is leaving for a new opportunity which suggests career growth.
  • Foghorn Therapeutics recognizes CFO's contributions positively.

BiopharmaWatch Analysis

From our catalyst data and publicly available data · not financial advice
Best trade, last catalyst
+56%
120-day peak, hindsight
Typical move
5.9%
average across 4 past catalysts
Cash runway
~28 mo
Minimal dilution risk
Lead asset
FHD-286
Phase 2 · Small Cell Lung Cancer

Full Press Release Details

CAMBRIDGE, Mass., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Foghorn® Therapeutics Inc. (Nasdaq: FHTX), a clinical-stage biotechnology company pioneering a new class of medicines that treat serious diseases by correcting abnormal gene expression, today announced that Chief Financial Officer, Allan Reine will be departing the Company to pursue another opportunity.
“I want to thank Allan for his leadership and commitment during his time at Foghorn,” said Adrian Gottschalk, President and Chief Executive Officer of Foghorn. “He has been a valued member of our leadership team, and we wish him well in the future.”
The Company has commenced a formal search for a successor. Dr. Reine’s last day as a full-time employee with Foghorn will be January 16, 2024.
About Foghorn Therapeutics
Forward-Looking Statements
This press release contains “forward-looking statements.” Forward-looking statements are identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding capital market conditions, our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including risks relating to our clinical trials and other factors set forth under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made.
Karin Hellsvik, Foghorn Therapeutics Inc. (Media)
Greg Dearborn, Foghorn Therapeutics Inc. (Investors)
Michael Lampe, ScientPR (Media)
Hans Vitzthum, LifeSci Advisors (Investors)

Frequently Asked Questions

Who is leaving Foghorn Therapeutics?

Chief Financial Officer Allan Reine is departing to pursue another opportunity.

When is Allan Reine's last day at Foghorn?

His last day as a full-time employee will be January 16, 2024.

What is Foghorn Therapeutics known for?

Foghorn Therapeutics develops innovative medicines to correct abnormal gene expression.

Is Foghorn searching for a new CFO?

Yes, Foghorn has begun a formal search for Allan Reine's successor.

Who commented on Allan Reine's departure?

Adrian Gottschalk, the CEO, expressed gratitude for Allan's leadership.

Last updated: Jan 3, 2024