Foghorn’s stock falls 18% after disclosing clinical hold

Shares of Foghorn Therapeutics Inc. FHTX, -6.79% tumbled 18.4% in premarket trading on Tuesday after the company said the Food and Drug Administration put a full clinical hold on a Phase 1 clinical trial evaluating an experimental treatment for relapsed and refractory acute myelogenous leukemia and myelodysplastic syndrome. The study assessing the same therapy in patients with metastatic uveal melanoma is ongoing. Foghorn’s stock is down 37.7% this year, while the broader S&P 500 SPX, -2.14% has declined 11.3%.