FHD-609 is a small molecule commercialized by Foghorn Therapeutics, with a leading Phase I program in Synovial Sarcoma. According to Globaldata, it is involved in 1 clinical trial, which is ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of FHD-609’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

The revenue for FHD-609 is expected to reach an annual total of $2 mn by 2034 in the US based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.

FHD-609 Overview

FHD-609 is under development for the treatment of synovial sarcoma. The drug candidate administered intravenously. The drug candidate is a heterobifunctional PROTAC (proteolysis-targeting chimera) and is developed based on gene traffic control (GTC) product platform. FHD-609 has two domains, one that binds with high potency and selectivity to BRD9 and the other that binds to a receptor on the E3 ligase complex.

Foghorn Therapeutics Overview

Foghorn Therapeutics is a pharmaceutical company. The company discovers and develops novel drugs to treat cancer and other serious medical disorders. Its Gene Traffic Control Platform is a chromatin regulatory system that directs which genes our cells express and when, where, and in what order. Foghorn Therapeutics products pipeline includes FHD-286 (BRM / BRG1), FHD-609 (BRD9), Selective BRM, and ARID1B. The company has developed a new approach of controlling gene expression, new insights, advanced six programs, and created a discovery engine that yield’s additional targets in multiple types of cancers and other diseases. Foghorn Therapeutics is headquartered in Cambridge, Massachusetts, the US.

The company reported revenues of (US Dollars) US$1.3 million for the fiscal year ended December 2021 (FY2021), compared to a revenue of US$0.4 million in FY2020. The operating loss of the company was US$102 million in FY2021, compared to an operating loss of US$68.8 million in FY2020. The net loss of the company was US$101.3 million in FY2021, compared to a net loss of US$68.8 million in FY2020. The company reported revenues of US$6.6 million for the third quarter ended September 2022, an increase of 47.8% over the previous quarter.

For a complete picture of FHD-609’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.

The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.