Foghorn to cut 40% of workforce after scrapping Lilly-partnered cancer drug

Foghorn to cut 40% of workforce after scrapping Lilly-partnered cancer drug

Oct 1 (Reuters) - Foghorn Therapeutics said on Thursday it has discontinued development of an experimental cancer drug partnered with Eli Lilly ​after it failed to show enough ‌benefit in an early-stage trial. The companies will not extend their 2021 p...

Foghorn lays off 40% of staff after Lilly collaboration ends

Foghorn Therapeutics and Eli Lilly teamed up in 2021 to develop and commercialize oncology products. The biotech’s layoffs will leave the company with 65 employees as it refocuses on its proprietary portfolio programs.

Lilly pulls back from Foghorn's synthetic lethality work as biotech sheds 40% of staff

Eli Lilly is walking away from Foghorn Therapeutics' "synthetic lethality" drug development, and the small biotech is reducing its headcount by 40% as a result of the culled collaboration. The duo is dropping a Phase ...

Foghorn Therapeutics (FHTX) Plummets 49% as Eli Lilly Terminates Cancer Partnership

Foghorn Therapeutics (FHTX) plunged 49% after Eli Lilly terminated their cancer drug partnership following poor Phase 1 results. Company cuts 40% of staff.

Foghorn Therapeutics (FHTX) Stock Falls 49% After Eli Lilly Ends Cancer Drug Deal

TLDR Foghorn Therapeutics stock crashed 49% to $1.84 after Eli Lilly walked away from their cancer drug partnership. The two companies decided not to advance FHD-909 into expanded trials following disappointing Phase 1 results. A second collaborative cancer program, the SMARCA2 degrader effort, is...