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Stock impact report

Foghorn Therapeutics Raises Approximately $110 Million Through Registered Direct Offering to Advance Pipeline [Yahoo! Finance]

Foghorn Therapeutics Inc. (FHTX) 
Company Research Source: Yahoo! Finance
Strengthens balance sheet with cash, cash equivalents and short-term investments of $310 million and extends cash runway into 2027 CAMBRIDGE, Mass., May 22, 2024 (GLOBE NEWSWIRE) -- Foghorn ® Therapeutics Inc. (Nasdaq: FHTX), a clinical-stage biotechnology company pioneering a new class of medicines that treat serious diseases by correcting abnormal gene expression, today announced the closing of its previously announced registered direct offering of common stock and of pre-funded warrants, with gross proceeds of the offering totaling approximately $110 million. With an initial focus in oncology, Foghorn's Gene Traffic Control ® Platform and resulting broad pipeline have the potential to transform the lives of people suffering from a wide spectrum of diseases. The offering includes new investors BVF Partners, Deerfield Management and other leading healthcare specialist investors as well as other new and previous investors, including founding investor Flagship Pioneering. Jefferie Show less Read more
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