Foghorn Therapeutics : 2026 January Foghorn Investor Presentation (a105ae)

About this update from Foghorn Therapeutics Inc.

Unique biology Precision therapeutics Broad impact January 2026 FHTX NASDAQ LISTED Foghorn is a Leader in Chromatin Biology, Successfully Drugging Challenging Targets Multi-billion $ Opportunities First-and-Best-in-Class Approaches Selective Target Engagement Strategic Partnership: Multiple Programs Targeting chromatin regulation Implicated in up to 50% of all tumors Unlocking selectivity of previously undruggable targets Innovating selective protein degradation with capabilities in induced proximity Leveraging a proven drug development platform with expansive potential 3 | Chromatin Regulatory System Orchestrates Gene Expression: Multiple Opportunities for Targets and Therapeutics Chromatin Regulatory System genes are implicated across a wide range of cancers Chromatin - compacted fo Chromatin Remodeling Complexes -specialized multiprotein machines that allow access to DNA Transcription Factors - proteins that help turn specific genes "on" or "off" by working in concert with the chromatin remodeling complex to bind to DNA Targets: Multiple TFs rm of DNA inside the nucleus of the cell Targets: SMARCA2, ARID1B Other Chromatin Binding Proteins involved in gene expression / function Targets: CBP, EP300 Leveraging synthetic lethality and lineage dependencies 4 | Foghorn's Platform Has Delivered Precision First-in-Class Therapeutics, and is Poised to Unlock New Biology Chromatin Biology Deep mechanistic understanding of chromatin regulatory system Chemistry, Biochemistry & Formulations Track record with previously undruggable targets Degraders / Selective Targeting Expertise in rules of degrader optimization Track record of delivering precision therapeutics Expansion into New TAs & Induced Proximity | 5 Foghorn: Precision Therapies with Potential for Multi-Billion Dollar Opportunities Across Oncology Modality Program and Partner Disease Discovery Pre-Clinical Phase 1 Anticipated Milestones FHD-909* SMARCA4-mutant cancers (e.g., NSCLC) Ph 1 Monotherapy Data; Enzyme (Selective SMARCA2) Confidential Inhibitors Partnered** Undisclosed Undisclosed Transition to Lilly; Confidential Selective SMARCA2 SMARCA4-mutant cancers (e.g., NSCLC) Transition to Lilly; Confidential Protein Degraders Selective CBP Selective EP300 ER+ Breast and EP300-mutant cancers (e.g., endometrial, cervical, ovarian, bladder) MM and DLBCL and other heme cancers IND-Ready; 2026 IND-enabling Studies; 2026 Selective ARID1B ARID1A-mutant cancers (e.g., endometrial, gastric, bladder, NSCLC) In vivo PoC; 2026 Transcription Factor Disruptors Undisclosed Undisclosed 3 Discovery Programs Undisclosed Undisclosed *LY4050784, 50/50 U.S. economic split, ex-U.S. royalties. ** Pending Lilly decision to proceed, 50/50 U.S. economic split, ex-U.S. royalties. SMARCA2 = BRM 6 | DLBCL: Diffuse Large B-Cell Lymphoma; ER+: Estrogen Receptor-positive; MM: Multiple Myeloma; NSCLC: Non-Small Cell Lung Cancer FHD-909 is Being Developed in Collaboration with Lilly; Landmark Agreement Signed in December 2021 Significant Upfront and Economics Strong Momentum and Shared Vision Ongoing Discovery Programs $300 million cash $80 million in Foghorn common stock at a price of $20 per share 50/50 U.S. economic split on SMARCA2-target and another undisclosed program Tiered ex-U.S. royalties ranging from low double-digit into 20s Lilly is a leading oncology company with a track record of innovation and execution Lilly selected FHD-909 for development and initiated the first clinical trial in 2024 Thorough evaluation of FHD-909 in models of SMARCA2- dependent tumors Three additional programs as part of collaboration (undisclosed) Potential to earn royalties and up to $1.3 billion in potential milestones across these three programs 7 | Developing First-in-Class Precision Medicines Targeting Major Unmet Needs in Cancer Leader in Unique Area of Cancer Biology Foghorn is a leader in targeting chromatin biology, which has the potential to address underlying dependencies of many genetically defined cancers Platform with initial focus in oncology, therapeutic area expansion potential Large Market Potential Chromatin biology is implicated in up to 50% of tumors , potentially impacting ~2.5 million patients Foghorn's current pipeline potentially addresses more than 500,000 of these patients Broad pipeline across a range of targets and small molecule modalities Well-Funded $158.9 million in cash and equivalents (unaudited) (as of 12/31/2025) Cash runway into 2028 Shares outstanding: approximately 63.2M* (unaudited) Value Drivers Selective SMARCA2 Inhibitor, FHD-909, partnered with Lilly, in Phase 1 trial Advancement of preclinical assets (Selective SMARCA2, CBP, EP300, ARID1B degraders) towards INDs Protein degrader platform with expansion into induced proximity Major Strategic Collaboration Strategic collaboration with Lilly; $380 million upfront; 50/50 U.S. economic split on two lead programs 8 | *Includes common shares outstanding and pre-funded warrants as of 12/31/2025. Selective SMARCA2 Program For SMARCA4-mutant Cancers FHD-909 (LY4050784) - Selective SMARCA2 Inhibitor 9 SMARCA2: Clinical-stage FHD-909 Selective SMARCA2 Inhibitor and Preclinical Selective SMARCA2 Degrader Selective SMARCA2 Inhibitor FHD-909* Selective SMARCA2 Degrader Biology Exploit the synthetic lethal relationship between SMARCA2 and mutated SMARCA4 Status Phase 1 monotherapy dose escalation trial ongoing Advancing through late preclinical development Opportunity SMARCA4-mutated cancer including ~10% of NSCLC and up to 5% of all solid tumors Lilly Partnership 50/50 global R&D cost share | 50/50 U.S. economics | tiered ex-U.S. royalties starting in the low double-digit range and escalating into the twenties 10 | *LY4050784 Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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