Pomerantz Law Firm Investigates Potential Securities Fraud at Foghorn Therapeutics (FHTX)
Pomerantz LLP has launched an investigation into Foghorn Therapeutics Inc. (NASDAQ: FHTX) following a significant drop in its stock price. The probe seeks to determine if the company or its executives engaged in securities fraud or unlawful business practices regarding recent clinical and operational disclosures. The investigation follows an October 1, 2026, announcement where Foghorn and Eli Lilly decided not to advance the FHD-909 (LY4050784) program into clinical development expansion. Additionally, the companies will halt their Selective SMARCA2 degrader program collaboration. To preserve capital, Foghorn announced a workforce reduction of approximately 40%, aiming to extend its cash runway into the second half of 2029. Market reaction to these developments was severe; Foghorn's stock plummeted 30.82% to close at $2.02 per share on October 2, 2026.
Tickers: $LLY
Topics: class action investigation clinical trial failure layoffs securities fraud stock price drop