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Foghorn Therapeutics Inc. balance sheet

At the end of fiscal 2025, Foghorn Therapeutics Inc. had total assets of $198m, total liabilities of $307m and shareholders' equity of −$109m. It held $80.9m in cash against $0 of debt: net cash of $80.9m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents931015280558168
Total current assets191460351240250163170
Total assets256520405286284198203
Accounts payable4456443
Deferred revenue (current)2283335464337
Total current liabilities19495558676051
Short-term debt0——————
Long-term debt200—————
Total debt20000000
Total liabilities109423405363330307284
Shareholders' equity146970−77−46−109−81
Net debt (negative = net cash)−73−101−52−80−55−81−68
Shares outstanding—41m42m42m56m57m59m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Foghorn Therapeutics Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Foghorn Therapeutics Inc.