Foghorn Therapeutics swings to $58.2 million Q3 net income on $83.5 million revenue

Foghorn Therapeutics reported third-quarter 2026 net income of $58.2 million, compared with a net loss of $15.8 million a year earlier, on collaboration revenue of $83.5 million, up from $8.2 million. Most of the revenue increase came from a $74.1 million cumulative catch-up adjustment tied to updated estimated future costs for ending the FHD-909 and SMARCA2 selective degrader programs, so the result is largely a one-time accounting effect.

Key points

• Diluted earnings per share were $0.80, compared with a loss of $0.25 per share in the prior-year quarter.
• Research and development expenses fell to $18.8 million from $20.0 million, and general and administrative expenses fell to $5.8 million from $6.7 million.
• A new $2.3 million restructuring cost line appeared in the quarter.
• Cash, cash equivalents and marketable securities were $156.2 million at September 30, 2026, with cash runway into the second half of 2029.

The filing

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 7:16 AM ET, from this filing only.

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.