StocksMedium•1 October 2026•
1 min read
Foghorn Therapeutics Cuts Workforce by 40% and Ends Lilly Collaboration
Key Facts
1Foghorn and Lilly decided not to advance the FHD-909 program following a review of Phase 1 clinical data.
2Foghorn plans to reduce its workforce by approximately 40% to extend its cash runway into the second half of 2029.
Foghorn Therapeutics and Eli Lilly have decided not to advance the FHD-909 program following a review of Phase 1 clinical data. According to a statement on GlobeNewswire, Foghorn plans to reduce its workforce by approximately 40% as part of a strategic reprioritization. The company aims to extend its cash runway into the second half of 2029 by focusing on its wholly owned pipeline assets.
FHTX closed at $3.57 on September 30, 2026, while LLY closed at $1,157.08 on the same date. This strategic pivot follows data indicating that the biological targets of the FHD-909 program did not translate into the level of efficacy required for further clinical development expansion.