10-Q · November 5, 2025
Foghorn reported collaboration revenue of $8,153 (in thousands) in Q3 2025, up from $7,808 in Q3 2024, and a smaller operating loss as R&D and G&A declined. Net loss for the quarter improved to $(15,849) (in thousands)…
Earnings analysis · 10-Q
FHTX earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Foghorn Therapeutics reported Q1 2026 results with a revenue of $3.3 million, down from $6.0 million in Q1 2025. The company incurred a net loss of $19.9 million, compared to a loss of $18.8 million in the prior year,…
Read full summary
Foghorn Therapeutics reported Q1 2026 results with a revenue of $3.3 million, down from $6.0 million in Q1 2025. The company incurred a net loss of $19.9 million, compared to a loss of $18.8 million in the prior year, indicating worsening profitability despite a slight reduction in operating expenses. They maintain a cash position of $183.6 million, expected to fund operations into H1 2028.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.29
What stood out
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Revenue Decline
Q1 2026 revenue of $3.3 million is down 45.0% from $6.0 million in Q1 2025.
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Net Loss Increases
Net loss widened to $19.9 million in Q1 2026 from $18.8 million in Q1 2025.
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Decrease in Operating Expenses
Total operating expenses lowered to $24.8 million from $28.9 million year-over-year.
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Strengthened Cash Position
Cash, cash equivalents, and marketable securities totaled $183.6 million as of March 31, 2026.
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Reduced R&D Expenses
R&D expenses decreased to $18.3 million, down from $21.6 million in Q1 2025.
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Operating Activities Cash Usage
Operating cash used reached $25.3 million in Q1 2026, compared to $24.0 million in Q1 2025.
What to watch
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Increased Net Loss
Continued losses, with Q1 2026 net loss at $19.9 million, exacerbating cash burn concerns.
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Collaboration Revenue Declines
Collaboration revenue fell to $3.3 million from $6.0 million year-over-year, impacting future earnings.
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Dependence on External Funding
The need for substantial additional funding as operations continue to burn cash with no product revenues expected soon.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · November 4, 2024
Foghorn reported collaboration revenue of $7.808 million and GAAP diluted loss per share of $(0.31) for the three months ended September 30, 2024. The quarter shows continued operating losses (loss from operations…
10-Q · May 6, 2024
Foghorn reported collaboration revenue of $5,050,000 for the quarter, down $259,000 (4.9%) versus Q1 2023, with a net loss of $25,016,000 (EPS $(0.59)), an improvement from a net loss of $30,488,000 (EPS $(0.73)) in the…
10-K · March 9, 2023
Foghorn Therapeutics positions itself as a platform-driven precision oncology company leveraging its Gene Traffic Control® platform to drug the chromatin regulatory system. The company reports a pipeline of more than 15…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.