Foghorn Therapeutics cuts 40% of staff after Eli Lilly partnership fails
Foghorn Therapeutics is terminating its collaboration with Eli Lilly and cutting 40% of its workforce after the lead candidate, FHD-909, failed to show sufficient efficacy in Phase 1 trials. The company will pivot to its proprietary pipeline, including EP300 and CBP degraders, while retaining $167.6 million in cash to fund operations through late 2029.