Foghorn to cut 40% of workforce after scrapping Lilly-partnered cancer drug
FHTX•Foghorn Therapeutics discontinued development of its Eli Lilly-partnered experimental cancer drug after it failed to show enough benefit in an early-stage trial. The companies will not extend their partnership, originally valued at up to $1.6 billion, and Foghorn plans to cut about 40% of its workforce.
1. Drug development ends
Foghorn said it will not advance FHD-909 to the next stage of testing after the drug failed to deliver the effectiveness required to continue development. The company said the drug was generally safe and had been intended to treat certain lung and other solid tumors with changes in the SMARCA4 gene.
2. Workforce and pipeline
Foghorn plans to complete the workforce cuts in the fourth quarter, leaving about 65 employees, compared with 106 at the end of 2025. It expects about $2.3 million in charges related to the layoffs. The company will also discontinue a separate program targeting SMARCA2 and focus on its own pipeline, including potential treatments for blood, prostate and hormone-sensitive breast cancers, and an experimental oral drug for inflammatory diseases.
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