Foghorn Therapeutics Inc. FHTX
Foghorn is a clinical stage, precision therapeutics biotechnology company pioneering a new class of medicines that treat serious diseases by correcting abnormal gene expression through selectively targeting the chromatin regulatory system, an untapped opportunity for therapeutic intervention in oncology and with potential in a wide spectrum of other diseases, including immunology and inflammation.
The chromatin regulatory system orchestrates gene expression—the turning on and off of genes—which is fundamental to how all our cells function. The chromatin regulatory system is implicated in approximately 50 percent of all cancers, and understanding how this system works could lead to an entirely new class of precision medicines. To our knowledge, we are the only company with the ability to study and target the chromatin regulatory system at scale, in context, and in an integrated way.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $30.9M | $22.6M | $34.2M | $19.2M | $1.3M | $430.0K | — | — |
| R&D | $85.5M | $94.5M | $109.7M | $105.6M | $80.3M | $57.7M | $44.4M | — |
| SG&A | $27.6M | $28.4M | $32.4M | $30.7M | $21.7M | $11.2M | $6.7M | — |
| Total operating expenses | $117.3M | $125.3M | $142.1M | $136.4M | $102.1M | $69.0M | $51.1M | — |
| Operating income | -$86.4M | -$102.7M | -$107.9M | -$117.1M | -$100.7M | -$68.5M | -$51.1M | — |
| Interest expense | — | — | — | — | $1.9M | $979.0K | $540.0K | — |
| Pre-tax income | -$74.3M | -$86.6M | -$94.2M | -$108.9M | — | -$68.8M | -$51.1M | — |
| Income tax | $0 | $0 | $4.2M | $0 | — | $0 | $0 | — |
| Net income | -$74.3M | -$86.6M | -$98.4M | -$108.9M | -$101.3M | -$68.8M | -$51.1M | — |
| EPS, basic | -1.18 | -1.58 | -2.34 | -2.62 | -2.73 | -6.23 | — | — |
| EPS, diluted | -1.18 | -1.58 | -2.34 | -2.62 | -2.73 | -6.23 | -12.20 | — |
| Shares, diluted (wtd. avg.) | 63.0M | 54.9M | 42.0M | 41.6M | 37.2M | 11.0M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $80.9M | $55.5M | $82.0M | $53.9M | $102.9M | $94.5M | $17.3M | $40.6M |
| Total current assets | $163.2M | $249.6M | $240.2M | $351.4M | $459.6M | $190.7M | $16.9M | — |
| Property, plant and equipment | — | — | — | — | — | $19.5M | $2.7M | — |
| Total assets | $198.1M | $284.0M | $285.9M | $404.9M | $519.8M | $255.6M | $22.3M | — |
| Accounts payable | $4.3M | $3.8M | $6.3M | $5.4M | $3.8M | $3.7M | $3.4M | — |
| Short-term debt | — | — | — | — | — | — | $4.2M | — |
| Total current liabilities | $59.7M | $67.0M | $58.4M | $55.2M | $48.7M | $18.8M | $12.7M | — |
| Long-term debt | — | — | — | — | $0 | $19.7M | $11.0M | — |
| Total liabilities | $306.6M | $329.5M | $363.1M | $404.8M | $422.9M | $109.4M | $23.8M | — |
| Retained earnings | -$632.5M | -$558.2M | -$471.6M | -$373.1M | -$264.3M | -$162.9M | -$94.1M | — |
| Total equity | -$108.5M | -$45.5M | -$77.2M | $112.0K | $96.9M | $146.2M | -$88.0M | -$39.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$86.1M | -$100.4M | -$118.1M | $193.6M | -$50.2M | -$31.3M | -$46.3M | — |
| Depreciation and amortisation | $3.3M | $3.1M | $3.5M | $3.3M | $3.2M | $1.3M | $693.0K | — |
| Stock-based compensation | $10.4M | $11.9M | $16.2M | $14.3M | $8.4M | $3.0M | $1.7M | — |
| Capital expenditure | $50.0K | $906.0K | $1.2M | $1.2M | $3.3M | $16.2M | $968.0K | — |
| Investing cash flow | $112.0M | -$29.9M | $144.4M | -$244.3M | $36.2M | -$108.9M | -$964.0K | — |
| Financing cash flow | $1.0M | $105.4M | $1.8M | $1.8M | $22.4M | $217.5M | $24.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-193928.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $430.0K | $1.3M | $19.2M | $34.2M | $22.6M | $30.9M |
| Gross profit | — | — | — | — | — | — | — | — |
| Net income | — | -$51.1M | -$68.8M | -$101.3M | -$108.9M | -$98.4M | -$86.6M | -$74.3M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Other event Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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