Foghorn Therapeutics Ends Solo Development of FHD-286

Dow Jones

Dec 16, 2024

By Colin Kellaher

Foghorn Therapeutics on Monday said it is ending independent development of its FHD-286 drug candidate following disappointing results from an early-stage study.

Foghorn said the objective clinical response rate observed in the Phase 1 dose-escalation study of FHD-286 in combination with decitabine in acute myeloid leukemia didn't meet the threshold for the Cambridge, Mass., clinical-stage biotechnology company to continue development of the drug on its own.

Foghorn said it is evaluating partnerships and investigator-sponsored trials to advance FHD-286, adding that it will now prioritize its other pipeline candidates and its collaboration programs with Eli Lilly.

The company said its $267.4 million in cash, equivalents and marketable securities as of Sept. 30 provide a runway into 2027.

Trading in shares of Foghorn, which closed Friday at $5.30, was halted premarket on Monday.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

December 16, 2024 07:35 ET (12:35 GMT)

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