Dilution profile // every instrument, one screen, from SEC filings

Foghorn Therapeutics Inc. (FHTX)

CIK 1822462 · all EDGAR filings →

Overall dilution risk
HIGHworst of 3 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
not every sub-rating was computable; treat as a floor
Offering ability
HIGHS-3 on file 2025-01-24
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
NOT COMPUTEDno warrant count tagged in XBRL
= warrant shares outstanding divided by current shares outstanding
absence of a tag is not proof of absence of warrants
Historical dilution
MEDIUM+42% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
MEDIUM~9.5 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-10-312026-07-31

Latest: 59.4M shares as of Jul 31, 2026 (10-Q).

Cash runway

~9 months of cash left

burning $21.5M / quarter

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Series1 and Series2 Warrant7.5Mnot tagged
Series Warrant7.5Mnot tagged
Pre Funded Warrant5.4M$0.000120y
Series1 Warrant3.7M$13.42
Series2 Warrant3.7M$20.13
Series Warrants3.7Mnot tagged
Prefunded Warrants3.2M$6.7099
January2026 Offering2.2M$6.71

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 6, 2026. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

No convertible-note facts tagged in the 10-Q filed Aug 6, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding59.4MJul 31, 2026
+ Series1 and Series2 Warrant (if exercised)7.5MJan 9, 2026
+ Series Warrant (if exercised)7.5MJan 9, 2026
+ Pre Funded Warrant (if exercised)5.4MJan 9, 2026
+ Series1 Warrant (if exercised)3.7MJan 9, 2026
+ Series2 Warrant (if exercised)3.7MJan 9, 2026
+ Series Warrants (if exercised)3.7MJan 9, 2026
+ Prefunded Warrants (if exercised)3.2MJan 9, 2026
+ January2026 Offering (if exercised)2.2MJan 9, 2026
Fully diluted estimate96.3M+62.2% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

S-3Jan 24, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 1 executed · 0 registered.

EXECUTEDJan 12, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDMar 20, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEJan 31, 2025SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJan 24, 2025S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDAug 8, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDMay 20, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEApr 19, 2022SEC declared a registration effective — selling can beginEFFECT
EXECUTEDApr 15, 2022Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEMar 14, 2022SEC declared a registration effective — selling can beginEFFECT
REGISTEREDFeb 14, 2022S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDDec 13, 2021Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDNov 25, 2020Unregistered share sale disclosed (8-K item 3.02)8-K

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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