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Side-by-side financial comparison of Foghorn Therapeutics Inc. (FHTX) and Mount Logan Capital Inc. (MLCI). Click either name above to swap in a different company.

Mount Logan Capital Inc. is the larger business by last-quarter revenue ($11.4M vs $9.2M, roughly 1.2× Foghorn Therapeutics Inc.). Mount Logan Capital Inc. runs the higher net margin — -117.5% vs -234.3%, a 116.8% gap on every dollar of revenue.

Foghorn Therapeutics Inc. is a clinical-stage biotechnology company dedicated to developing novel therapies targeting the chromatin regulatory system to treat various types of cancer and other severe diseases. It advances a diverse pipeline of targeted drug candidates, conducting internal R&D and strategic partnerships to serve global patient populations.

180 Degree Capital Corp. is a publicly traded registered closed-end management investment company.

FHTX vs MLCI — Head-to-Head

Bigger by revenue
MLCI
MLCI
1.2× larger
MLCI
$11.4M
$9.2M
FHTX
Higher net margin
MLCI
MLCI
116.8% more per $
MLCI
-117.5%
-234.3%
FHTX

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
FHTX
FHTX
MLCI
MLCI
Revenue
$9.2M
$11.4M
Net Profit
$-21.7M
$-13.4M
Gross Margin
Operating Margin
-258.2%
-97.3%
Net Margin
-234.3%
-117.5%
Revenue YoY
223.8%
Net Profit YoY
-11.1%
EPS (diluted)
$-0.35
$-1.64

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
FHTX
FHTX
MLCI
MLCI
Q4 25
$9.2M
Q3 25
$8.2M
$11.4M
Q2 25
$7.6M
Q1 25
$6.0M
Q4 24
$2.9M
Q3 24
$7.8M
Q2 24
$6.9M
Q1 24
$5.0M
Net Profit
FHTX
FHTX
MLCI
MLCI
Q4 25
$-21.7M
Q3 25
$-15.8M
$-13.4M
Q2 25
$-17.9M
Q1 25
$-18.8M
Q4 24
$-19.5M
Q3 24
$-19.1M
Q2 24
$-23.0M
Q1 24
$-25.0M
Operating Margin
FHTX
FHTX
MLCI
MLCI
Q4 25
-258.2%
Q3 25
-226.9%
-97.3%
Q2 25
-279.2%
Q1 25
-385.0%
Q4 24
-840.5%
Q3 24
-305.5%
Q2 24
-386.6%
Q1 24
-558.3%
Net Margin
FHTX
FHTX
MLCI
MLCI
Q4 25
-234.3%
Q3 25
-194.4%
-117.5%
Q2 25
-237.3%
Q1 25
-316.4%
Q4 24
-682.9%
Q3 24
-244.9%
Q2 24
-333.6%
Q1 24
-495.4%
EPS (diluted)
FHTX
FHTX
MLCI
MLCI
Q4 25
$-0.35
Q3 25
$-0.25
$-1.64
Q2 25
$-0.28
Q1 25
$-0.30
Q4 24
$-0.23
Q3 24
$-0.31
Q2 24
$-0.45
Q1 24
$-0.59

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
FHTX
FHTX
MLCI
MLCI
Cash + ST InvestmentsLiquidity on hand
$80.9M
Total DebtLower is stronger
$73.4M
Stockholders' EquityBook value
$-108.5M
$131.2M
Total Assets
$198.1M
$1.6B
Debt / EquityLower = less leverage
0.56×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FHTX
FHTX
MLCI
MLCI
Q4 25
$80.9M
Q3 25
$89.3M
Q2 25
$72.6M
Q1 25
$61.0M
Q4 24
$55.5M
Q3 24
$57.7M
Q2 24
$138.9M
Q1 24
$79.3M
Total Debt
FHTX
FHTX
MLCI
MLCI
Q4 25
Q3 25
$73.4M
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Stockholders' Equity
FHTX
FHTX
MLCI
MLCI
Q4 25
$-108.5M
Q3 25
$-89.7M
$131.2M
Q2 25
$-76.7M
Q1 25
$-61.7M
Q4 24
$-45.5M
Q3 24
$-28.3M
Q2 24
$-14.3M
Q1 24
$-97.5M
Total Assets
FHTX
FHTX
MLCI
MLCI
Q4 25
$198.1M
Q3 25
$205.0M
$1.6B
Q2 25
$226.2M
Q1 25
$258.7M
Q4 24
$284.0M
Q3 24
$308.4M
Q2 24
$328.6M
Q1 24
$255.0M
Debt / Equity
FHTX
FHTX
MLCI
MLCI
Q4 25
Q3 25
0.56×
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
FHTX
FHTX
MLCI
MLCI
Operating Cash FlowLast quarter
$-22.3M
$-25.6M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FHTX
FHTX
MLCI
MLCI
Q4 25
$-22.3M
Q3 25
$-18.9M
$-25.6M
Q2 25
$-21.0M
Q1 25
$-24.0M
Q4 24
$-24.5M
Q3 24
$-21.0M
Q2 24
$-25.5M
Q1 24
$-29.3M
Free Cash Flow
FHTX
FHTX
MLCI
MLCI
Q4 25
Q3 25
Q2 25
$-21.0M
Q1 25
$-24.0M
Q4 24
$-25.0M
Q3 24
$-21.3M
Q2 24
$-25.6M
Q1 24
$-29.4M
FCF Margin
FHTX
FHTX
MLCI
MLCI
Q4 25
Q3 25
Q2 25
-278.2%
Q1 25
-403.2%
Q4 24
-875.3%
Q3 24
-273.0%
Q2 24
-371.0%
Q1 24
-583.1%
Capex Intensity
FHTX
FHTX
MLCI
MLCI
Q4 25
0.0%
Q3 25
0.0%
Q2 25
0.3%
Q1 25
0.5%
Q4 24
16.8%
Q3 24
4.0%
Q2 24
0.2%
Q1 24
2.0%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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