Foghorn Therapeutics Third Quarter 2024 Earnings: Beats Expectations

Foghorn Therapeutics (NASDAQ:FHTX) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$7.81m (down 55% from 3Q 2023).
• Net loss: US$19.1m (loss widened by 33% from 3Q 2023).
• US$0.30 loss per share.

All figures shown in the chart above are for the trailing 12 month (TTM) period

Foghorn Therapeutics Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 30%.

Looking ahead, revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in the US.

Performance of the American Biotechs industry.

The company's shares are up 9.4% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 5 warning signs for Foghorn Therapeutics (2 are a bit concerning) you should be aware of.

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