Ropes & Gray Advised Foghorn Therapeutics in $50 Million Registered Direct Offering

Ropes & Gray represented Foghorn Therapeutics in its registered direct offering of 2,030,314 shares of common stock at $6.71 per share, and, to certain investors in lieu of common stock, pre-funded warrants to purchase up to an aggregate of 5,421,250 shares of its common stock, along with additional warrants to purchase an aggregate of 7,451,564 shares of common stock, for total gross proceeds of approximately $50 million. The closing was announced in a Jan. 13 press release.

Foghorn is a clinical-stage biotechnology company pioneering a new class of medicines that treat serious diseases by correcting abnormal gene expression.

The team was led by capital markets partners Rachel Phillips and Will Michener.