Foghorn’s stock drops 23% after FDA puts partial hold on clinical trial

Shares of Foghorn Therapeutics Inc. FHTX, +18.08% were down 23.7% in premarket trading on Friday, the day after the company said U.S. regulators had placed a partial clinical hold on a Phase 1 clinical trial assessing an experimental therapy for relapsed and/or refractory acute myelogenous leukemia. The Food and Drug Administration has asked for a review of the safety database, as well as information about risk mitigation and clinical activity across doses. Foghorn’s stock has declined 49.3% this year, while the broader S&P 500 SPX, +0.01% is down 18.1%.