Foghorn Therapeutics Inc. · NASDAQ:FHTX
Foghorn Therapeutics — Investor Presentation (November 2026)
37 slides from Foghorn Therapeutics's investor presentation, Nov 9, 2026
Slide 1: Unique biology, Precision therapeutics, Broad impact
Unique biology Precision therapeutics Broad impact NASDAQ LISTED FHTX November 2026 Exhibit 99.2
Slide 2: Forward Looking Statements
| Forward Looking Statements 2 This presentation contains forward-looking statements that are based on management's beliefs and assumptions and on information currently available to management. All statements other than statements of historical facts contained in this presentation are forward- looki
Slide 3: Drugging Challenging Targets with Precision
| Drugging Challenging Targets with Precision A differentiated small-molecule company applying deep drug discovery capabilities across multiple modalities and therapeutic areas CHALLENGING TARGETS Going after biology that has been difficult to drug SELECTIVITY Designing molecules to precisely differ
Slide 4: Foghorn's Platform Has Delivered Precision First-in-Class Therapeutics
| Foghorn’s Platform Has Delivered Precision First-in-Class Therapeutics, and Is Poised to Unlock New Biology Protein Complexes Deep expertise in production of challenging proteins & protein complexes Highly Specific Assays Development of biochemical, biophysical, and functional assays that reveal s
Slide 5: Precision Therapies with Potential for Multi-billion Dollar Opportunities
| Precision Therapies with Potential for Multi-billion Dollar Opportunities 5 Therapeutic Area Program Phase 1 Oncology Disease Area Selective CBP Degrader ER+ breast cancer Selective EP300 Degrader Heme malignancies (MM and DLBCL) Preclinical Next Clinical Milestone DLBCL: Diffuse Large B-Cell Lymp
Slide 6: Developing First-in-Class Precision Medicines Targeting Diseases with Significant Market Potential
| Developing First-in-Class Precision Medicines Targeting Diseases with Significant Market Potential 6 Immunology & Inflammation Expanding beyond oncology with a novel oral small- molecule program in I&I Robust preclinical activity in IBD Near Team Catalysts Selective EP300 degrader: IND targeted in
Slide 7: Selective EP300 Degrader
Selective EP300 Degrader Preclinical data outperforms clinical benchmark 7
Slide 8: Summary: Selective EP300 Degrader for Heme Malignancies
| Summary: Selective EP300 Degrader for Heme Malignancies 8 • E1A binding protein p300 (EP300) • Targeted protein degrader MM AML + MDS DLBCL Target / Approach • IND targeted in 2027Next Clinical Milestone • Deeper efficacy response vs non- selective molecules • Improved tolerability profile vs non-
Slide 9: EP300 Degradation Shows Anti-Proliferative Activity in Hematological Malignancies
| EP300 Degradation Shows Anti-Proliferative Activity in Broad Range of Hematological Malignancies 9MM: Multiple Myeloma; DLBCL: Diffuse Large B-Cell Lymphoma; AML: Acute Myeloid Leukemia; BL: Burkitt’s Lymphoma; PTCL: Peripheral T-cell Lymphomas; T-ALL: T-cell Acute Lymphoblastic Leukemia; B-ALL: B
Slide 10: Multiple Myeloma: A Large, Multi-line Treatment Opportunity
| Multiple Myeloma: A Large, Multi-line Treatment Opportunity 10 Treatment progress has improved outcomes, but most patients relapse and require additional therapies over time 36,000 estimated new U.S. cases in 2026 63.7% five-year relative survival Market growing at~ 6%CAGR From $21.7 B (2023) to $
Slide 11: Selective EP300 Degrader Outperforms Dual CBP/EP300 Inhibitor Inobrodib
| Selective EP300 Degrader Outperforms Dual CBP/EP300 Inhibitor Inobrodib 11 ✓ Foghorn Tx EP300 Selective Degrader × Cellcentric Inobrodib Dual inhibitor Selective for EP300 over CBP – greater therapeutic window potential ✓ × Spares human megakaryocytes in vitro ✓ × ✓ ×Continuous dosing ✓Combination
Slide 12: EP300 Degradation Results in Significant Tumor Growth Inhibition in MM Model
| EP300 Degradation Results in Significant Tumor Growth Inhibition in Multiple Myeloma CDX Model 12 Multiple Myeloma (MM1S) CDX Model 10 15 20 25 30 0 100 200 300 500 1000 1500 2000 2500 Days After Tumor Inoculation Tu m or V ol um e (m m ³+ S EM ) CCS1477, 20mpk, QD, p.o Vehicle FHT-513, 1mpk, QW,
Slide 13: Selective EP300 Degrader Outperforms CCS1477 in DLBCL Model
| Selective EP300 Degrader Outperforms CCS1477 in DLBCL Model Representing Germinal Center b-cell (GCB) Patient Segment 13 DLBCL (Pfeiffer) CDX Model 20 30 40 0 200 400 600 800 1000 1500 2000 Days After Tumor Inoculation Tu m or V ol um e (m m ³+ S EM ) Vehicle FHT-273, 10mpk, QD, s.c FHT-273, 3mpk,
Slide 14: EP300 Degraders Show No Impact on Platelets
| EP300 Degraders Show No Impact on Platelets at Doses that Provide Complete Responses in CDX Models 14 FHT-513 PLT (x109cells/L) 0 500 1000 1500 2000 Vehicle FHT-273, 10mpk, QD, s.c FHT-273, 3mpk, QD, s.c CCS1477(Inobrodib), 20mpk, QD, p.o FHT-513, 1mpk, QW, IR, s.c FHT-513, 0.3mpk, QW, IR, s.c FHT
Slide 15: Superior Efficacy vs Pomalidomide and Inobrodib in IMiD Resistant MM Model
| 20 25 30 35 40 0 100 200 300 400 1000 2000 3000 4000 Days After Tumor Inoculation Tu m or V ol um e (m m 3 ) + /- SE M Vehicle FHT-007, 30mpk, BID, s.c. CCS1477 (Inobrodib), 10mpk, BID (4d on / 3d off), p.o CCS1477 (Inobrodib), 20mpk, QD, p.o. Pomalidomide, 10mpk, QD, p.o. Selective EP300 Degrader
Slide 16: Global Proteomics Confirms Selectivity for EP300
| Global Proteomics Confirms Selectivity for EP300 FHT-273 16 FHT-273 DC50 0.3nM Dmax 96% Rate 1.8 hr-1 FHT-513 FHT-513 DC50 0.45 nM Dmax 98 % Rate 2.7 hr-1 10nM FHT-513/DMSO 6hr Log2FC333nM FHT-273/DMSO 8hr Log2FC
Slide 17: Development Vision: EP300 in Hematological Malignancies
| 17 Development Vision: EP300 in Hematological Malignancies e Patients with r/r hematological malignancies Dose Level 1 Dose Level 2 Dose Level 3 Dose Level n Register in specific hematological malignancies single agent or as part of combination regimen AML/MDS T-Cell Malignancies Expand into earli
Slide 18: Inflammation & Immunology Novel Oral Small Molecule
Inflammation & Immunology Novel Oral Small Molecule 18
Slide 19: First-in-class Inhibitor of a Novel Target X in Inflammatory Bowel Disease
| 19 First-in-class Inhibitor of a Novel Target X in Inflammatory Bowel Disease Novel oral target in I&I in inflammatory bowel disease (IBD) Preparing for potential SAD/MAD by end of 2027 DRF to be initiated in Q4 2026 Target X
Slide 20: Target X Inhibition Suppresses Disease Activity in T Cell Transfer Colitis Model
| 20 Target X Inhibition Suppresses Disease Activity in the T Cell Transfer Colitis Model T cell Transfer Colitis Model (therapeutic intervention paradigm) Colitis Disease Activity Index (DAI) αIL-12/23p40 is a positive control (mouse surrogate antibody for ustekinumab) Efficacy comparable to the an
Slide 21: FHT-Inhibitor Treatment Reduces Colon Weight:Length Ratio
| 21 FHT-Inhibitor Treatment Results in a Reduction in the Colon Weight : Length Ratio CD4+ CD45RBlow CD4+ CD45RBhigh Vehicle 50 mg/kg FHT inhibitor 10 mg/kg anti- IL12/23 20 40 60 80 C ol on w ei gh t:l en gt h (m g/ cm ) Colon weight : length ratio CD4+CD45RBlow Vehicle αIL-12/23p40 10mg/kg Q3D 93
Slide 22: Target X Inhibition Suppresses Disease Activity in IL10 KO Colitis Model
| 22 Target X Inhibition Suppresses Disease Activity in the IL10 KO Colitis Model Colon weight : length ratio αIL-12/23p40 is a positive control (mouse surrogate antibody for ustekinumab) Efficacy comparable to the anti-IL-12/23p40 positive control IL-10 KO mouse model (therapeutic intervention para
Slide 23: Endoplasmic Reticulum Induced Proximity (ERIP)
Endoplasmic Reticulum Induced Proximity (ERIP) Degrading Secreted and Transmembrane Proteins 23
Slide 24: ERIP Opportunity: Majority of Approved Drugs Target Secreted or Membrane Proteins
| ERIP Opportunity: Majority of Approved Drugs Target Secreted or Extracellular Membrane Proteins 24 The human proteome in druggable - The Human Protein Atlas ER-targeted proteins include those localized to the: ER, Golgi, Lysosome, Endosome, Plasma Membrane, and Extracellular Space ER-targeted and
Slide 25: Many Companies Trying to Replicate mAb-like Efficacy with Oral Delivery
| Many Companies Trying to Replicate mAb-like Efficacy with Oral Delivery 25 • Efforts to replace Lysosomal Targeting Chimeras (LYTACs) with small molecules – restricted receptor expression and inefficient degradation pathways Small-molecule LYTACs • Target ER secretory pore complexes - difficult to
Slide 26: Broad Clinically-Validated Target Classes Possible for ERIP
| Broad Clinically-Validated Target Classes Possible for ERIP 26 • IL-17, IL-23, IL-12, IL-1B, IL-5, IL-6, VEGFA, PCSK9, FGF23, IFNɣ, TSLP, C5b, C1s, Sclerostin, APOE4 Soluble Secreted Proteins • GPCRs - assessing feasibility Multi-pass Transmembrane Proteins • TNFα, TL1A, TNFSF13B, RANKL Secreted a
Slide 27: ERIP – Molecular Glue-based Loss of Secreted and Transmembrane Proteins
| Endoplasmic Reticulum Induced Proximity (ERIP) – Molecular Glue-based Loss of Secreted and Transmembrane Proteins 27 The Secretory Pathway
Slide 28: Initial PoC of Cytokines or Transmembrane Proteins Using Genetic Fusion Tag
| Initial PoC of cytokines or transmembrane proteins using a genetic fusion tag system for induced proximity Induced Proximity Results in Robust Loss of Multiple Cytokines and Transmembrane Targets (e.g., TNFa, PDL1, EGFR, IL23, IL17) Within 24hrs 28 + Cytokine or TM ERIP Effector proximity compound
Slide 29: Selective CBP Degrader, FHT-171 For ER+ Breast Cancer
Selective CBP Degrader, FHT-171 For ER+ Breast Cancer 29
Slide 30: Summary: Selective CBP Degrader for ER+ Breast Cancer
| Summary: Selective CBP Degrader for ER+ Breast Cancer 30 • CREB binding protein (CBP) • Targeted protein degrader ER+ breast cancer Target / Approach • Preclinical Stage • Highly selective and potent • Increased tolerability relative to non- selective compounds • Long-acting formulation • Compelli
Slide 31: FHT-171 Disrupts Estrogen Receptor Signaling in Breast Cancer
| FHT-171 Reduces ER Levels in Wildtype ESR1 Breast Cancer Cell Lines T47D and CAMA1 FHT-171 degradation of CBP disrupts and suppresses ER signaling in a potentially ESR1 mutation agnostic manner FHT-171 Disrupts Estrogen Receptor (ER) Signaling in Breast Cancer 31 0.0 0.5 1.0 1.5 Day 7 Day 14 Day 2
Slide 32: FHT-171 Demonstrates Anti-tumor Efficacy in SOC Resistant ER+ Breast Cancer Models
| FHT-171 Demonstrates Anti-tumor Efficacy as a Monotherapy in Standard-of-care Resistant ER+ Breast Cancer Models ER+ Metastatic Breast Cancer CDX (ST941C; ESR1m) ER+ Metastatic Breast Cancer PDX (ST4887B, ESR1 wt) ER+ Metastatic Breast Cancer PDX (ST4680D, ESR1m) 32 0 5 10 15 20 25 0 1000 2000 300
Slide 33: FHT-171 Shows No Impact on Platelet Counts and Spared Megakaryocytes
| FHT-171 Shows No Impact on Platelet Counts and Spared Megakaryocytes • C BP Platelet Counts Post Two Weeks of Dosing (In Vivo – Control Mice) Human Megakaryocyte Cell Viability Assay (In Vitro**) *CCS1477 (Inobrodib) inhibition study used 3 weeks of dosing Platelet counts are unaffected by selecti
Slide 34: FHT-171: Potent and Selective CBP Degrader
| FHT-171: Potent and Selective CBP Degrader • C BP Global Proteomics Confirms that FHT-171 is Selective 34 FHT-171 Rapidly and Potently Degrades CBP, but not its Paralog EP300 Dmax: 97% Max Rate: 3.2 hr-1 DC50: 30pM Dmax: 5% Max Rate: N/A 100nM CBPd-171/DMSO 3hr Log2FC FHT-171 CBP Kinetics FHT-171
Slide 35: Long-Acting Injectable Formulation of CBPd-171 Enables Weekly Delivery
| Long-Acting Injectable Formulation of CBPd-171 Enables Weekly Sub-cutaneous (SC) Delivery 35 Tumor Growth Inhibition Observed in EP300mut (AGS) Gastric Model (Daily Injections and SC weekly LAI Injection) • Weekly LAI injection of CBDd-171 results in efficacy comparable to daily SC injections in A
Slide 36: Development Vision: CBP Degrader as Combination Partner in ER+ Breast Cancer
| 36 Development Vision: CBP Degrader has the Potential to be an Attractive Combination Partner in ER+ Breast Cancer and Beyond Phase 1b Dose Expansion / Combination ER+ BC patients who failed at least 2L in advanced / metastatic setting In parallel, explore combos Dose Level 1 Dose Level 2 Dose Lev
Slide 37: Unique biology, Precision therapeutics, Broad impact
Unique biology Precision therapeutics Broad impact 37November 2026
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