Foghorn Therapeutics announced a $50 million equity financing on January 9, 2026, raising capital at a 30% premium to the January 9 closing price of $5.23, a move that signals strong investor confidence in the company’s pipeline.
The transaction involved the issuance of 2,030,314 common shares at $6.71 each, pre‑funded warrants for up to 5,421,250 shares at the same exercise price, and additional warrants for up to 3,725,782 shares at $13.42 and $20.13. The deal will close on January 13, 2026.
The infusion lifts Foghorn’s cash, cash equivalents and marketable securities to $208.9 million, up from $180.3 million at the end of September 2025 and $243.7 million at the end of 2024, giving the company a runway through the first half of 2028 and enabling continued investment in its SMARCA2 degrader FHD‑909 and other selective degrader programs. This follows a $110 million direct offering in June 2024 that also saw participation from BVF, Deerfield, and Flagship.
CEO Adrian Gottschalk said the financing is an “important vote of confidence” from key biotech investors, underscoring the company’s ability to secure capital at a premium while maintaining partnership commitments with Eli Lilly and Merck.
The funding supports Foghorn’s strategic objectives for 2026, including advancing the Phase 1 dose‑escalation trial of FHD‑909, progressing CBP and EP300 degrader programs, and developing an ARID1B degrader, positioning the company to address unmet needs in cancers driven by chromatin regulatory dependencies.
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