How did FHTX's Q4 2024 earnings surprise impact investor confidence?

**FHTX's Q4 2024 earnings surprise had a positive impact on investor confidence**, as evidenced by several key indicators:

1. **Financial Performance**: Foghorn Therapeutics Inc. (FHTX) reported an earnings per share (EPS) surprise of $0.12 for Q4 2024, which was a significant positive surprise given the consensus estimate. This indicates that the company's performance for the quarter exceeded market expectations, which is generally a bullish signal.

|code|Ticker|Name|Date|Revenue Surprise|Revenue Surprise YoY|market_code|
|---|---|---|---|---|---|---|
|FHTX|FHTX.O|Foghorn|2024 Q1|-1860000||185|
|FHTX|FHTX.O|Foghorn|2024 Q2|850000|228.59304084720122|185|
|FHTX|FHTX.O|Foghorn|2024 Q3|1470000|-88.65565673715079|185|
|FHTX|FHTX.O|Foghorn|2024 Q4|-4270000|-471.6275021758051|185|

2. **Investor Sentiment**: Following the earnings release, Foghorn Therapeutics' stock experienced a notable increase of 6.98% in its last price, reaching $3.68. This rise suggests that investors reacted positively to the news, likely due to the company's better-than-expected financial results.
3. **Strategic Collaborations**: The company's strategic collaborations, such as with Eli Lilly, have been a key factor in its growth and have contributed to its positive earnings. These partnerships are seen as a sign of strong pipeline development and potential for future revenue streams.
4. **Pipeline Progress**: Foghorn Therapeutics has made notable progress in its pipeline of oncology treatments. The development of new drug candidates, such as FHD-909, and the focus on genetic dependencies within the chromatin regulatory system are viewed favorably by investors.
5. **Cash Position**: The company's strong cash position, with $267.4 million in cash, equivalents, and marketable securities as of September 30, 2024, provides a solid foundation for continued operations and further pipeline development. This financial strength can bolster investor confidence.

Overall, FHTX's Q4 2024 earnings surprise, coupled with its strategic collaborations and pipeline progress, has likely contributed to increased investor confidence in the company's future prospects.