FHTX earnings analysis
What we found in FHTX's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline
- Q1 2026 revenue of $3.3 million is down 45.0% from $6.0 million in Q1 2025.
- Net Loss Increases
- Net loss widened to $19.9 million in Q1 2026 from $18.8 million in Q1 2025.
- Decrease in Operating Expenses
- Total operating expenses lowered to $24.8 million from $28.9 million year-over-year.
- Strengthened Cash Position
- Cash, cash equivalents, and marketable securities totaled $183.6 million as of March 31, 2026.
- Reduced R&D Expenses
- R&D expenses decreased to $18.3 million, down from $21.6 million in Q1 2025.
- Operating Activities Cash Usage
- Operating cash used reached $25.3 million in Q1 2026, compared to $24.0 million in Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Net Loss
- Continued losses, with Q1 2026 net loss at $19.9 million, exacerbating cash burn concerns.
- Collaboration Revenue Declines
- Collaboration revenue fell to $3.3 million from $6.0 million year-over-year, impacting future earnings.
- Dependence on External Funding
- The need for substantial additional funding as operations continue to burn cash with no product revenues expected soon.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.29
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads worse than the one before it.
What came before.
- 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)…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
We read every filing FHTX makes the day it lands, and put it next to what the options market did about it. Members get both, and an alert when a filing arrives.
Cancel anytime · Month to month · Switch tiers whenever