FHTX

MKT CAP:$313M

Foghorn Therapeutics Inc.

Market Cap

$313M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$5.19+$0.00 (+0.00%)

Apr 23, 2026

Company Details

Foghorn Therapeutics Inc., a clinical-stage biopharmaceutical company, discovers and develops medicines targeting genetically determined dependencies within the chromatin regulatory system. The company uses its proprietary Gene Traffic Cont...

CEO

Adrian H. Gottschalk

IPO Date

Oct 23, 2020

Website

foghorntx.com

Key Metrics TTM

Revenue

$31M

+36.8% YoY

Net Income

-$74M

EPS (Diluted)

-$1.18

Free Cash Flow

-$86M

Revenue / Share

$0.49

Gross Margin

29.8%

Operating Margin

-265.6%

Net Margin

-240.3%

FCF Margin

-278.7%

P/S

10.1x

P/E

—

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Mar 11, 2026

$31M+36.8%EPS -$1.18

Q4 2025

Mar 11, 2026

$9M+223.8%EPS -$0.35

Q3 2025

Nov 5, 2025

$8M+4.4%EPS -$0.25

Q2 2025

Aug 5, 2025

$8M+9.7%EPS -$0.28

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$4M	-$21M	-$28M
Q2 22	$4M	-$21M	-$29M
Q3 22	$7M	-$20M	-$28M
Q4 22	$4M	-$24M	-$32M
Q1 23	$5M	$5M	-$33M
Q2 23	$6M	-$24M	-$32M
Q3 23	$17M	-$9M	-$17M
Q4 23	$6M	$5M	-$25M
Q1 24	$5M	$5M	-$28M
Q2 24	$7M	$7M	-$27M
Q3 24	$8M	$8M	-$24M
Q4 24	$3M	$3M	-$24M
Q1 25	$6M	$6M	-$23M
Q2 25	$8M	$7M	-$21M
Q3 25	$8M	-$12M	-$19M
Q4 25	$9M	$8M	-$20M

Valuation

Quarter	P/S	P/E
Q1 22	63.2x	—
Q2 22	34.1x	—
Q3 22	19.9x	—
Q4 22	16.3x	—
Q1 23	15.2x	—
Q2 23	14.4x	—
Q3 23	9.6x	—
Q4 23	9.2x	—
Q1 24	9.2x	—
Q2 24	8.9x	—
Q3 24	12.3x	—
Q4 24	13.8x	—
Q1 25	13.3x	—
Q2 25	12.9x	—
Q3 25	12.8x	—
Q4 25	10.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$272M	$271M
Q2 22	-$29M	-$29M
Q3 22	-$20M	-$20M
Q4 22	-$29M	-$29M
Q1 23	-$31M	-$32M
Q2 23	-$32M	-$33M
Q3 23	-$27M	-$27M
Q4 23	-$28M	-$28M
Q1 24	-$29M	-$29M
Q2 24	-$26M	-$26M
Q3 24	-$21M	-$21M
Q4 24	-$25M	-$25M
Q1 25	-$24M	-$24M
Q2 25	-$21M	-$21M
Q3 25	-$19M	-$19M
Q4 25	-$22M	-$22M

Capital Expenditures

Quarter	CapEx
Q1 22	$247.0K
Q2 22	$364.0K
Q3 22	$330.0K
Q4 22	$269.0K
Q1 23	$636.0K
Q2 23	$469.0K
Q3 23	$82.0K
Q4 23	$37.0K
Q1 24	$101.0K
Q2 24	$17.0K
Q3 24	$309.0K
Q4 24	$479.0K
Q1 25	$28.0K
Q2 25	$22.0K
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+1270.6%	+35.5%
Q2 22	+1509.3%	+43.1%
Q3 22	+16080.5%	+32.7%
Q4 22	+486.8%	+25.3%
Q1 23	+35.4%	+21.8%
Q2 23	+24.7%	+11.8%
Q3 23	+163.5%	-1.0%
Q4 23	+37.9%	-13.4%
Q1 24	-4.9%	-13.9%
Q2 24	+23.0%	-11.0%
Q3 24	-55.3%	-8.4%
Q4 24	-50.5%	-14.0%
Q1 25	+17.9%	-13.2%
Q2 25	+9.7%	-14.5%
Q3 25	+4.4%	-15.8%
Q4 25	+223.8%	+7.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$5M	86.1%
Q2 23	$0	0.0%
Q3 23	$4M	23.4%
Q4 23	$3M	52.9%
Q1 24	$3M	63.8%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$2M	86.9%
Q1 25	$3M	45.2%
Q2 25	$3M	36.2%
Q3 25	$0	0.0%
Q4 25	$2M	24.2%

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$25M	$7M
Q2 22	$26M	$8M
Q3 22	$27M	$8M
Q4 22	$28M	$8M
Q1 23	$30M	$9M
Q2 23	$29M	$8M
Q3 23	$26M	$8M
Q4 23	$23M	$7M
Q1 24	$26M	$8M
Q2 24	$24M	$7M
Q3 24	$25M	$7M
Q4 24	$21M	$6M
Q1 25	$22M	$7M
Q2 25	$21M	$7M
Q3 25	$20M	$7M
Q4 25	$23M	$7M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$214M	$211M	$425M
Q2 22	$61M	$334M	$395M
Q3 22	$88M	$286M	$373M
Q4 22	$52M	$294M	$346M
Q1 23	$51M	$265M	$316M
Q2 23	$58M	$227M	$284M
Q3 23	$70M	$190M	$260M
Q4 23	$80M	$154M	$234M
Q1 24	$79M	$127M	$207M
Q2 24	$139M	$146M	$285M
Q3 24	$58M	$210M	$267M
Q4 24	$55M	$188M	$244M
Q1 25	$61M	$160M	$221M
Q2 25	$73M	$126M	$199M
Q3 25	$89M	$91M	$180M
Q4 25	$81M	$78M	$159M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	41M	+11.9%	+12.4%
Q2 22	42M	+0.4%	+12.7%
Q3 22	42M	+0.4%	+12.7%
Q4 22	42M	+0.3%	+13.1%
Q1 23	42M	+0.0%	+1.1%
Q2 23	42M	+0.0%	+0.7%
Q3 23	42M	+0.5%	+0.8%
Q4 23	42M	+0.6%	+1.1%
Q1 24	42M	+0.3%	+1.5%
Q2 24	52M	+21.6%	+23.3%
Q3 24	63M	+21.4%	+49.0%
Q4 24	63M	0.0%	+48.1%
Q1 25	63M	+0.4%	+48.1%
Q2 25	63M	+0.2%	+22.1%
Q3 25	63M	+0.1%	+0.7%
Q4 25	63M	-0.1%	+0.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$32.9K	119
Q2 22	$37.7K	119
Q3 22	$55.7K	119
Q4 22	$26.0K	161
Q1 23	$33.0K	161
Q2 23	$34.8K	161
Q3 23	$108.6K	161
Q4 23	$49.7K	116
Q1 24	$43.5K	116
Q2 24	$59.4K	116
Q3 24	$67.3K	116
Q4 24	$25.5K	112
Q1 25	$53.1K	112
Q2 25	$67.5K	112
Q3 25	$72.8K	112
Q4 25	$87.2K	106

Revenue / Employee