Foghorn to cut 40% of jobs as Lilly collaboration ends

2 October 2026

US biotech company Foghorn Therapeutics (Nasdaq: FHTX) plans to cut approximately 40% of its workforce after disappointing cancer trial results brought its collaboration with US pharma major Eli Lilly (NYSE: LLY) to an end.

Foghorn said Thursday that the companies would not advance FHD-909 (LY4050784) into the expansion phase of its Phase I trial after reviewing dose-escalation data. They also decided against advancing a separate selective SMARCA2 degrader program and do not anticipate further collaboration activities.

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