--- title: "Foghorn Therapeutics | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 3.267 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285535719.md" datetime: "2026-05-07T11:05:47.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285535719.md) - [en](https://longbridge.com/en/news/285535719.md) - [zh-HK](https://longbridge.com/zh-HK/news/285535719.md) --- # Foghorn Therapeutics | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 3.267 M Revenue: As of FY2026 Q1, the actual value is USD 3.267 M, missing the estimate of USD 7.944 M. EPS: As of FY2026 Q1, the actual value is USD -0.29, beating the estimate of USD -0.305. ### Collaboration Revenue Collaboration revenue for Foghorn Therapeutics Inc. was $3.3 million for the three months ended March 31, 2026, a decrease from $6.0 million for the three months ended March 31, 2025, driven by the timing of work performed under the Lilly Collaboration Agreement . ### Operating Expenses #### Research and Development Expenses Research and development expenses were $18.3 million for the three months ended March 31, 2026, compared to $21.6 million for the three months ended March 31, 2025 . This $3.3 million decrease was due to lower Lilly-partnered program costs, decreases in facilities and IT-related expenses, a decrease in FHD-286 costs, and reductions in personnel-related costs, partially offset by an increase in early development and other external costs . #### General and Administrative Expenses General and administrative expenses were $6.6 million for the three months ended March 31, 2026, compared to $7.2 million for the three months ended March 31, 2025 . This $0.6 million decrease was primarily due to lower facilities and IT-related expenses . #### Total Operating Expenses Total operating expenses were $24.840 million for the three months ended March 31, 2026, compared to $28.865 million for the three months ended March 31, 2025 . ### Loss from Operations Loss from operations was -$21.573 million for the three months ended March 31, 2026, compared to -$22.913 million for the three months ended March 31, 2025 . ### Total Other Income, Net Total other income, net, was $1.698 million for the three months ended March 31, 2026, compared to $4.079 million for the three months ended March 31, 2025 . ### Net Loss Net loss was -$19.9 million for the three months ended March 31, 2026, compared to a net loss of -$18.8 million for the three months ended March 31, 2025 . ### Cash, Cash Equivalents, and Marketable Securities As of March 31, 2026, Foghorn Therapeutics Inc. had $183.6 million in cash, cash equivalents, and marketable securities, an increase from $158.894 million as of December 31, 2025 . ### Other Balance Sheet Items Total assets were $222.167 million as of March 31, 2026, up from $198.103 million as of December 31, 2025 . Deferred revenue, total, was $245.887 million as of March 31, 2026, compared to $249.154 million as of December 31, 2025 . Total liabilities were $298.575 million as of March 31, 2026, compared to $306.603 million as of December 31, 2025 . Total stockholders’ deficit was -$76.408 million as of March 31, 2026, an improvement from -$108.500 million as of December 31, 2025 . ### Collaboration Payments and Upfronts Foghorn Therapeutics Inc. received $300 million in cash and $80 million in its common stock as part of a collaboration agreement with Eli Lilly and Company . This collaboration includes the potential to earn up to $1.3 billion in milestones across three additional programs . ### Shares Outstanding Shares outstanding were approximately 70.6 million as of March 31, 2026 . ### Operational Metrics The FHD-909 (Selective SMARCA2) Phase 1 dose-escalation trial is on track . Preclinical combination data for FHD-909 with an anti-PD-1 antibody demonstrated potential for robust and durable regression with anti-tumor immune memory . The selective CBP degrader FHT-171 is advancing for ER+ breast cancer with an Investigational New Drug (IND) application anticipated in 2027 . Selective EP300 degraders, with potential in multiple myeloma and other hematological malignancies, also have an IND anticipated in 2027 . The selective ARID1B degrader program is advancing towards in vivo proof of concept in 2026 . The collaboration with Eli Lilly and Company involves a 50⁄50 U.S. economic split on the SMARCA2-target and another undisclosed program, with tiered ex-U.S. royalties . Foghorn Therapeutics Inc.’s pipeline potentially addresses over 500,000 patients out of an estimated 2.5 million patients impacted by chromatin biology . ### Outlook Foghorn Therapeutics Inc. projects a strong balance sheet with a cash runway into the first half of 2028 . The company anticipates IND filings in 2027 for both its selective CBP degrader FHT-171 and selective EP300 degraders . Foghorn Therapeutics Inc. and Lilly expect to evaluate FHD-909 in combination studies in the front-line setting of NSCLC, pending a decision to move into the dose expansion portion of the trial . ### Related Stocks - [FHTX.US](https://longbridge.com/en/quote/FHTX.US.md) ## Related News & Research - [Foghorn Therapeutics (FHTX) Receives a Buy from H.C. Wainwright](https://longbridge.com/en/news/285715134.md) - [Aldeyra Therapeutics, Inc. 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