07:50 AM EST, 12/16/2024 (MT Newswires) -- Foghorn Therapeutics ( FHTX ) said Monday it has decided to discontinue the independent development of FHD-286 in combination with decitabine to treat patients with relapsed and/or refractory acute myeloid leukemia.

The company is evaluating collaborations and investigator sponsored trials for advancing FHD-286, it said, adding that it will now prioritize investment in proprietary pipeline and Lilly partnership programs.

Foghorn said it had $267.4 million in cash, cash equivalents and, marketable securities as of Sept. 30 to support its operations through 2027.

Foghorn's stock fell more than 20% in recent Monday premarket activity.

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