Foghorn Therapeutics Inc (FHTX) News

FHTX under $10

Dip buy opportunity on low volume.

Very close to next leg up it seems. Trades tight.

wow CONGRATS


what a day

FHTX

20.34 in AH.

FHTX up 57% @ 18.85 > surging into closing bell.

thanks I traded them...

lol

Under the Stock Purchase Agreement, the Company has agreed to sell 4,000,000 shares of Common Stock (the “Shares”) to Lilly at $20.00 per share, for an aggregate purchase price of $80,000,000, on December 10, 2021 (the “SPA Closing”). In accordance with the Stock Purchase Agreement, the Company has amended its Amended and Restated Investors’ Rights Agreement, as previously amended (the “Investors’ Rights Agreement”), to provide Lilly with certain registration rights, including (i) the right to request that the Company file a registration statement on Form S-3 with respect to the Shares under conditions described in the Investors’ Rights Agreement; and (ii) in the event that the Company proposes to register any securities under the Securities Act, the right to certain “piggyback” registration rights allowing Lilly to include its registrable securities in such registration, subject to certain marketing and other limitations. In addition, pursuant to the Stock Purchase Agreement, the Company is obligated to use commercially reasonable efforts to allow Lilly to participate in future offerings of shares of Common Stock in an amount equal to its pro rata ownership of Common Stock, subject to certain limitations and exceptions, which obligation expires if Lilly ceases to hold all of the Shares or does not fully participate up to its pro rata ownership in any such offering. Lilly also has agreed to certain restrictions regarding an acquisition of the Company until the earlier of 540 days from the SPA Closing or such time as Lilly holds less than 2% of the outstanding Common Stock

BIGGEST VOLUME DAY EVER!

Huge volume! 10M in first 30 minutes.

17.76 > Working our way to a 20.00+ run. Solid fundamental & technical catalysts!

That's a fantastic BUY. > Go FHTX.

Nice, loaded some 17.48.

FHTX i BOUGHT 4500 SHARES AVG 17.67 ON THAT DIP

Sound the foghorn! > Tutes loading shares all day!

FHTX

Loaded 17.11's > Going to run 20.00+ today.

Amazing! Trading float is 17M according to MarketWatch.

FHTX

FHTX As part of the deal, Eli Lilly will pay $300 million upfront and make an equity investment in Foghorn of $80 million, priced at $20 a share

https://www.marketwatch.com/story/foghorn-therapeutics-shares-soar-26-premarket-on-news-of-cancer-collaboration-with-eli-lilly-2021-12-13?siteid=yhoof2

THANKS FOR MAKING THE BOARD

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=167100165

Foghorn Therapeutics Stock Surges After $1.5B Cancer Pact With Eli Lilly
8:57 am ET December 13, 2021 (Benzinga) Print
Loxo Oncology, an R&D group of Eli Lilly And Co (NYSE: LLY), and Foghorn Therapeutics Inc (NASDAQ: FHTX) have collaborated to create oncology medicines by applying Foghorn's Gene Traffic Control platform.

The collaboration includes a co-development and co-commercialization agreement for Foghorn's selective BRM oncology program and an additional undisclosed oncology target.
In addition, the collaboration includes three additional discovery programs using Foghorn's Gene Traffic Control platform.
Under the agreement terms, Foghorn will receive upfront consideration of $300 million in cash and an equity investment by Lilly of $80 million at $20 per share.
For the BRM-selective program and the additional undisclosed target program, Foghorn will lead discovery and early research activities.
Lilly will conduct development and commercialization activities with participation from Foghorn in operational activities and cost-sharing.
Foghorn and Lilly will share 50/50 in the U.S. economics, and Foghorn is eligible to receive royalties on ex-U.S. sales.
Foghorn will lead discovery and early research activities for the additional discovery programs, and it may receive up to a total of $1.3 billion in potential development and commercialization milestones.
Price Action: FHTX shares are up 37.6% at $16.50, LLY stock is up 0.35% at $245.00 during the premarket session on the last check Monday.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Foghorn Therapeutics Inc. is focused on the discovery and development of medicines targeting genetically determined dependencies within the chromatin regulatory system. The Company's Gene Traffic Control platform gives an integrated, mechanistic understanding of how the various components of the chromatin regulatory system interact, allowing it to identify, validate and potentially drug targets within the system. It is initially focused on oncology. It is developing FHD-286, a selective, allosteric ATPase inhibitor, which is evaluating in separate Phase I studies in metastatic uveal melanoma and relapsed or refractory acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). It is also developing FHD-609, a protein degrader, to treat synovial sarcoma is in phase I study. The Company is also engaged in developing additional programs targeting populations that include selective BRM and selective ARID1B modulators. Foghorn Securities Corporation is its subsidiary.