Foghorn Therapeutics, founded in 2015, is a pre-clinical stage biotechnology company developing drugs that target the *chromatin regulatory system for a wide range of cancers through its proprietary Gene Traffic Control Product Platform. *The chromatin regulatory system is a system that orchestrates the movement of molecules that turn genes "on" and "off."
The Cambridge, Massachusetts-based company plans to list its stock on the Nasdaq Global Select Market under the symbol "FHTX" on October 23, 2020.
The company has offered to sell 7.5 million shares in the offering - with the initial public offering price expected to be between $15.00 and $17.00 per share. The underwriters have a 30-day option period to purchase up to 1.125 million additional shares.
Underwriters:
Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Cowen and Company, LLC, Wedbush Securities Inc.
Pipeline:
--The company's lead candidate FHD-286 is a selective allosteric ATPase inhibitor, which is under preclinical testing, for the treatment of acute myeloid leukemia, or AML, and uveal melanoma.
-- FHD-609, a protein degrader, is for the treatment of synovial sarcoma cancers, under preclinical testing.
--Selective BRM modulator is currently under discovery stage targeting non-small-cell lung cancer.
--Selective ARID1B program, a protein degrader, for the treatment of ARID1A mutated cancers, which is under discovery stage.
Collaborations
In July 2020, Foghorn Therapeutics entered into collaboration with Merck to develop novel oncology therapeutics against a transcription factor target.
Near-term Catalysts:
--An Investigational New Drug Application for FHD-286 is expected to be filed with the FDA in the fourth quarter of 2020, and if approved, separate clinical studies in AML and uveal melanoma are slated to commence in parallel during the first quarter of 2021.
--Investigational New Drug Applications for FHD-609 is anticipated to be submitted to the FDA in the first half of 2021, with phase I trial in synovial sarcoma to commence thereafter.
-- IND-enabling studies for selective BRM modulator are expected to begin in the second half of 2021.
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