Foghorn Therapeutics Inc. (NASDAQ: FHTX) announced that Ryan Maynard will assume the role of Chief Financial Officer, effective February 23 2026. Maynard brings more than 25 years of experience in financial strategy and capital‑markets execution, having served as CFO at Cara Therapeutics, Rigel Pharmaceuticals, LetsGetChecked Inc., and Blade Therapeutics.
Prior to Maynard’s appointment, interim CFO Jeff Sacher led the company’s finance functions. Maynard’s track record includes raising over $1 billion through public and private financings, executing a reverse merger with Tvardi Therapeutics, and securing a $37.5 million royalty deal at Cara. He also played a key role in the FDA approval and commercial launch planning of TAVALISSE at Rigel.
Foghorn’s financial position is robust, with approximately $208.9 million in cash, cash equivalents, and marketable securities as of January 13 2026. The company’s recent $50 million equity financing, priced at a 30 % premium, extends its runway into the first half of 2028 and supports the advancement of its lead program, FHD‑909, in partnership with Lilly, as well as its selective degrader portfolio.
Maynard’s appointment is intended to strengthen Foghorn’s financial discipline and support the company’s projected cash burn as it moves toward regulatory milestones. His expertise in capital‑raising and partnership negotiations is expected to enhance the company’s ability to secure future funding rounds and negotiate favorable partnership terms, thereby accelerating the development of its chromatin‑targeting therapies.
"Ryan is a seasoned biotech executive who brings proven financial and operational leadership. His experience scaling organizations will accelerate our mission to deliver novel therapies to patients," said Adrian Gottschalk, President and CEO of Foghorn. "I am excited to join Foghorn at this pivotal time as the Company's lead program advances in dose escalation in partnership with Lilly, and our selective degrader portfolio nears the clinic," added Maynard.
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