India, Nov. 9 -- Foghorn Therapeutics, Inc. (FHTX), a biotechnology company developing small-molecule medicines and targeted protein degradation therapies, on Monday reported third-quarter 2026 net income compared with a loss a year earlier, driven by higher collaboration revenue. The company also outlined progress across its immunology, inflammation and oncology programs.
Third-Quarter 2026 Financial Results
Net income was $58.2 million for the third quarter of 2026, compared with a net loss of $15.8 million in the prior-year period.
Collaboration revenue increased to $83.5 million from $8.2 million a year earlier.
The $75.4 million increase primarily reflected a $74.1 million cumulative catch-up adjustment related to updated estimates...