Foghorn Therapeutics ends FHD-909 program with Lilly and cuts about 40% of workforce
Foghorn Therapeutics and Eli Lilly decided not to advance the FHD-909 Phase 1 trial into its expansion phase, and the collaboration will not pursue further activities. Foghorn approved a strategic reprioritization and a workforce reduction of about 40%, leaving about 65 full-time employees, with aggregate charges of about $2.3 million mostly for severance and benefits. The company says the changes are expected to extend its cash runway into the second half of 2029.
Key points
- Decision not to advance FHD-909 into expansion phase made September 25, 2026, after review of Phase 1 clinical data
- Board approved reprioritization and workforce reduction on September 30, 2026; about 40% of current workforce affected, leaving about 65 full-time employees
- Aggregate charges of approximately $2.3 million, expected to be incurred mainly in the fourth quarter of 2026
- Press release says changes are expected to extend cash runway into the second half of 2029
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 01, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.