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Foghorn Therapeutics Inc., a clinical-stage biopharmaceutical company, engages in the discovery and development of medicines targeting genetically determined dependencies within the chromatin regulatory system in the United States. The company uses its proprietary Gene Traffic Control platform to identify, validate, and potentially drug targets within the system. It is developing therapies for mutant; non-small cell lung; endometrial, cervical, ovarian, and bladder cancer; and diffuse large B-cell lymphoma, as well as various acute myeloid leukemia and myelodysplastic syndrome. The company has collaboration agreement with Eli Lilly and Company for developing FHD-909, a selective ATPase inhibitor of BRM. The company was incorporated in 2015 and is headquartered in Watertown, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $31M | $-79M | $-74M | $-86M | 68.5% | 36.8% | - |
| 2024 | $23M | $-97M | $-87M | $-101M | 190.3% | -33.8% | - |
| 2023 | $34M | $-104M | $-98M | $-119M | 127.5% | 77.6% | - |
| 2022 | $19M | $-114M | $-109M | $192M | -97216.1% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 19.23 | 34.16 | 22.60 | 30.91 |
| Operating Expense | 136.37 | 142.06 | 122.89 | 113.02 |
| Operating Income | -117.14 | -107.91 | -100.28 | -82.11 |
| EBITDA | -113.82 | -104.45 | -97.17 | -78.78 |
| EBIT | -117.14 | -107.91 | -100.28 | -82.11 |
| Pretax Income | -108.88 | -94.20 | -86.62 | -74.28 |
| Tax Provision | 0 | 4.23 | 0 | 0 |
| Net Income | -108.88 | -98.43 | -86.62 | -74.28 |
| Net Income Common Stockholders | -108.88 | -98.43 | -86.62 | -74.28 |
| Total Expenses | 136.37 | 142.06 | 122.89 | 113.02 |
| Interest Expense | 0 | 0 | 0 | 0 |
| Interest Income | 5.67 | 10.88 | 11.90 | 8.74 |
| Research And Development | 105.62 | 109.69 | 94.53 | 85.47 |
| Selling General And Administration | 30.75 | 32.37 | 28.36 | 27.55 |
| Normalized EBITDA | -113.82 | -104.45 | -94.77 | -74.49 |
| Normalized Income | -108.88 | -98.43 | -84.22 | -70 |
| Basic EPS | -2.62 | -2.34 | -1.58 | 0 |
| Diluted EPS | -2.62 | -2.34 | -1.58 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0.21 | 0 | 0 |
| Total Unusual Items | 0 | 0 | -2.40 | -4.28 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -2.40 | -4.28 |
| Net Income From Continuing Operation Net Minority Interest | -108.88 | -98.43 | -86.62 | -74.28 |
| Reconciled Depreciation | 3.32 | 3.45 | 3.12 | 3.33 |
| Net Interest Income | 5.67 | 10.88 | 11.90 | 8.74 |
| Net Income From Continuing And Discontinued Operation | -108.88 | -98.43 | -86.62 | -74.28 |
| Total Operating Income As Reported | -117.14 | -107.91 | -102.68 | -86.39 |
| Diluted Average Shares | 41.59 | 41.97 | 54.90 | 0 |
| Basic Average Shares | 41.59 | 41.97 | 54.90 | 0 |
| Diluted NI Availto Com Stockholders | -108.88 | -98.43 | -86.62 | -74.28 |
| Net Income Including Noncontrolling Interests | -108.88 | -98.43 | -86.62 | -74.28 |
| Net Income Continuous Operations | -108.88 | -98.43 | -86.62 | -74.28 |
| Other Income Expense | 2.58 | 2.83 | 1.76 | -0.92 |
| Other Non Operating Income Expenses | 2.58 | 2.83 | 4.16 | 3.36 |
| Special Income Charges | 0 | 0 | -2.40 | -4.28 |
| Other Special Charges | 0 | 0 | 0 | -1.63 |
| Write Off | 0 | 0 | 2.40 | 5.91 |
| Impairment Of Capital Assets | 0 | 0 | 2.40 | 0 |
| Net Non Operating Interest Income Expense | 5.67 | 10.88 | 11.90 | 8.74 |
| Interest Expense Non Operating | 0 | 0 | 0 | 0 |
| Interest Income Non Operating | 5.67 | 10.88 | 11.90 | 8.74 |
| General And Administrative Expense | 30.75 | 32.37 | 28.36 | 27.55 |
| Other Gand A | 12.50 | 11.81 | 11.23 | 10.13 |
| Salaries And Wages | 18.24 | 20.57 | 17.12 | 17.41 |
| Operating Revenue | 19.23 | 34.16 | 22.60 | 30.91 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Foghorn Therapeutics Inc.this co. | FHTX | $279M | - | -2.49 | 68.5% | -2.05 |
| Organogenesis Holdings Inc. | ORGO | $296M | 15.33 | 0.97 | 8.5% | 5.55 |
| Protara Therapeutics, Inc. | TARA | $285M | - | 1.41 | -29.2% | -1.99 |
| LENZ Therapeutics, Inc. | LENZ | $284M | - | 1.00 | -28.9% | 0.09 |
| Simulations Plus, Inc. | SLP | $283M |
| - |
| 2.11 |
| -51.9% |
| 17.29 |
| RxSight, Inc. | RXST | $282M | - | 1.02 | -14.1% | -1.42 |
| Editas Medicine, Inc. | EDIT | $276M | - | 10.11 | -586.6% | -1.57 |
| Accendra Health, Inc. | ACH | $267M | - | -0.58 | 238.8% | 5.96 |
| Eledon Pharmaceuticals, Inc. | ELDN | $266M | - | 1.84 | -56.3% | - |
| Peer Median | - | 15.33 | 1.21 | -29.1% | 0.09 | |