Foghorn Therapeutics saw its price target cut from $12 to $5 after it and Eli Lilly decided not to advance key cancer drug programs. The companies will not continue development of FHD-909 or a selective SMARCA2 degrader, ending their collaboration. Foghorn will now focus on its own drug programs and reduce its workforce by about 40% to extend its cash runway into late 2029. The stock dropped sharply on the news amid high trading volume, reflecting investor concern over the strategic shift and pipeline changes.
Following the news of Foghorn Therapeutics' strategic shift and workforce reduction, Eli Lilly's stock shows a slight decline. On Pluang, as of Oct 02, 2026 02:41 WIB, Eli Lilly (LLY) trades at USD 1,155.14 with a 1-day change of -0.17%. The stock's market cap stands at $1.03 trillion, and the platform records a nearly balanced order activity with 52% Sell and 48% Buy.
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