Foghorn Therapeutics (FHTX) said Monday it has decided to discontinue the independent development of FHD-286 in combination with decitabine to treat patients with relapsed and/or refractory acute myeloid leukemia.
The company is evaluating collaborations and investigator sponsored trials for advancing FHD-286, it said, adding that it will now prioritize investment in proprietary pipeline and Lilly partnership programs.
Foghorn said it had $267.4 million in cash, cash equivalents and, marketable securities as of Sept. 30 to support its operations through 2027.
Foghorn's stock fell more than 20% in recent Monday premarket activity.
Price: 4.23, Change: -1.07, Percent Change: -20.19
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