Foghorn Therapeutics (FHTX) IPO Opens 19% Higher

Today's IPO for Foghorn Therapeutics Inc. (NASDAQ: FHTX) opened for trading at $19 after pricing 7,500,000 shares of its common stock at a public offering price of $16.00 per share.

Goldman Sachs & Co. LLC, Morgan Stanley and Cowen are acting as joint book-running managers for the offering, and Wedbush PacGrow is acting as co-manager.

Foghorn Therapeutics is discovering and developing a novel class of medicines targeting genetically determined dependencies within the chromatin regulatory system. Through its proprietary scalable Gene Traffic Control™ platform, Foghorn is systematically studying, identifying and validating potential drug targets within the chromatin regulatory system. The company is developing multiple product candidates in oncology and expects to file an IND for its first program later this year.

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