Foghorn Therapeutics Discontinues Development of FHD-286 Clinical Program; Shares Fall Pre-Bell
MT Newswires Live
Dec 16, 2024
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.