Foghorn Therapeutics Inc. (FHTX) Sector
Health Care

(Current) $5.77
-0.24 (-3.99%) Open Price: 5.64

 

Foghorn Therapeutics Inc. is a biotechnology company focused on discovering and developing novel medicines that target the chromatin regulatory system. The company was founded in 2015 by Cigall Kadoch and Gerald Crabtree, two renowned scientists who are pioneers in the field of chromatin biology. Foghorn's proprietary Gene Traffic Control platform enables the company to systematically explore the vast and complex landscape of the human genome to identify new targets for therapeutic intervention. The company is headquartered in Cambridge, Massachusetts.

 

Foghorn's Gene Traffic Control platform is a cutting-edge technology that combines high-throughput CRISPR screening, single-cell genomics, and machine learning to identify new drug targets that regulate gene expression. By targeting the chromatin regulatory system, Foghorn aims to address unmet medical needs in diseases such as cancer, neurological disorders, and rare genetic diseases. The company has developed a pipeline of drug candidates that target specific chromatin regulators, and is actively advancing these programs towards clinical development.

 

Foghorn Therapeutics went public on the NASDAQ stock exchange in October 2020, raising $120 million in its initial public offering (IPO). The company priced its shares at $16 each, above the expected range of $13 to $15 per share, and saw its stock price rise by more than 100% on the first day of trading. The successful IPO was a testament to investor interest in the field of epigenetics and chromatin biology, as well as the potential of Foghorn's innovative drug discovery platform.

 

Since going public, Foghorn has continued to make progress in advancing its pipeline of drug candidates. In March 2021, the company announced positive preclinical data for its lead program, which targets a specific chromatin regulator that is involved in the development of certain types of cancer. The data showed that the drug candidate was effective in inhibiting tumor growth in multiple preclinical models, and provided a strong rationale for clinical development.

 

Foghorn Therapeutics is led by a team of experienced executives with a track record of success in the biotechnology industry. The company's CEO, Adrian Gottschalk, previously served as the Chief Business Officer of C4 Therapeutics, a biotechnology company that went public in 2020. Other members of the management team have held senior positions at companies such as Novartis, GlaxoSmithKline, and Biogen, and bring a wealth of expertise in drug discovery and development to Foghorn.

 



 

(05/24/24) $5.64
(05/27/24) $6.01
(05/27/24) (Qty.)174,715
(05/24/24) $5.60
(05/24/24) $6.14
(05/05/24) $5.11
(05/05/24) $6.50
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