Full Press Release Details
Foghorn Therapeutics Provides Corporate Update
- FHD-286 Phase 1 data anticipated as early as year-end
- FHD-609 IND submission on track for the second quarter 2021
- Continued advancement of broad therapeutic pipeline targeting the chromatin regulatory system
CAMBRIDGE, Mass. (GLOBAL NEWSWIRE) March 18, 2021 Foghorn Therapeutics Inc. (Nasdaq: FHTX), a company pioneering the discovery and
development of a new class of medicines targeting genetically determined dependencies within the chromatin regulatory system, today provided a corporate update in conjunction with its 10-K filing for the year
ended December 31, 2020.
With IND clearance for FHD-286 in both relapsed and/or refractory AML and
metastatic uveal melanoma, we are currently initiating our first two clinical studies with initial data possible by the end of 2021, a significant milestone for our company, said Adrian Gottschalk, Chief Executive Officer of Foghorn
Therapeutics. At the same time, the IND for our second program, FHD-609, a protein degrader targeting BRD9 for the treatment of synovial sarcoma, is on track for submission in the second quarter. We have
a broad pipeline of programs that continue to advance, including both an inhibitor and protein degrader targeting BRM and a protein degrader program targeting ARID1B. These programs represent two of the most prevalent synthetic lethal relationships
Using its proprietary Gene Traffic Control platform, Foghorn is advancing a novel class of therapeutics, including targeting multiple
transcription factors, exploiting synthetic lethal relationships in the chromatin regulatory system, while in parallel bolstering its protein degradation capabilities. The company is well resourced to achieve several clinical and preclinical
milestones over the coming quarters.
Recent Corporate Highlights:
Key Upcoming Milestones
Foghorn reported cash, cash
equivalents and marketable securities of $185.8 million as of December 31, 2020 compared with $15.0 million as of December 31, 2019.
About Foghorn Therapeutics
Foghorn Therapeutics is discovering and developing a novel class of medicines targeting genetically determined dependencies within the chromatin regulatory system. Through its proprietary scalable Gene
Traffic Control platform, Foghorn is systematically studying, identifying and validating potential drug targets within the chromatin
regulatory system. The company is developing multiple product candidates in oncology.
Forward-Looking Statements
This press release contains forward-looking statements regarding the Company s recent corporate highlights, including the collaboration
agreement with Merck, and key upcoming milestones. Forward-looking statements include statements regarding the proposed public offering and other statements 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 risk
regarding the timing of filing an IND and other factors set forth under the heading Risk Factors in the Company s registration statement on Form S-1. Any forward-looking statement made in this
press release speaks only as of the date on which it is made.
Fanny Cavali , Foghorn Therapeutics
Gregory Kelley, Ogilvy
Investor Relations Contact:
Allan Reine, Foghorn Therapeutics
Hans Vitzthun, LifeSci Advisors