WATERTOWN, Mass.--(BUSINESS WIRE)--Nov 12, 2020--

Forma Therapeutics Holdings, Inc. (Nasdaq: FMTX), a clinical-stage biopharmaceutical company focused on rare hematologic diseases and cancers, today reported financial results for the third quarter ended September 30, 2020. The company also highlighted recent progress and upcoming milestones for its pipeline programs.

We are very pleased with our strong pipeline progress during the quarter amid such challenging times, said Frank Lee, President and Chief Executive Officer of Forma. We look forward to presenting new data from our ongoing Phase 1 trial of FT-4202 in sickle cell disease at the ASH meeting in December, as well as beginning enrollment of patients for our Phase 1 trial of FT-7051 in men living with metastatic castration-resistant prostate cancer. The recent positive top-line results from the olutasidenib registrational Phase 2 clinical trial in relapsed/refractory acute myeloid leukemia with an IDH1 mutation further underscores our commitment to developing transformative therapies for patients.

Key Business and Clinical Highlights

PKR Program in Sickle Cell Disease (SCD):

CPB/p300 Program in Prostate Cancer:

IDH1 Program in AML and Glioma:

Corporate:

Upcoming Milestones

Upcoming Investor Events

Financial Results

About Forma Therapeutics

Forma Therapeutics is a clinical-stage biopharmaceutical company focused on the research, development and commercialization of novel therapeutics to transform the lives of patients with rare hematologic diseases and cancers. Our R&D engine combines deep biology insight, chemistry expertise and clinical development capabilities to create drug candidates with differentiated mechanisms of action focused on indications with high unmet need. Our work has generated a broad proprietary portfolio of programs with the potential to provide profound patient benefit. For more information, please visit http://www.FormaTherapeutics.com or follow us on Twitter @FORMAInc and LinkedIn.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements regarding the companys beliefs and expectations regarding its: business plans and objectives; future plans for FT-4202 and FT-7051, including expectations regarding timing and success of the current ongoing clinical trials, therapeutic potential and clinical benefits thereof, and upcoming milestones for the companys other product candidates; growth as a company and the anticipated contribution of the members of our board of directors to our operations and progress; presentation of additional data at upcoming scientific conferences, and other preclinical data in 2020; the potential commercial and collaboration opportunities, including potential future collaborators and parties, as well as value and market, for our product candidates; uses of capital, expenses and other 2020 financial results or in the future, and the potential impact of COVID-19 on patient retention, strategy, future operations, clinical trials or IND submissions. The words may, will, could, would, should, expect, plan, anticipate, intend, believe, estimate, predict, project, potential, continue, target and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Any forward-looking statements in this press release are based on managements current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, those risks and uncertainties associated with: the impact of the COVID-19 pandemic on the companys business, operations, strategy, goals and anticipated milestones; the therapeutic potential of FT-4202, and the timing associated with the initiation or continuation of any of FT-4202 trials; the initiation of our phase I clinical trial of FT-7051; Formas ability to execute on its strategy; positive results from a clinical study may not necessarily be predictive of the results of future or ongoing clinical studies; regulatory developments in the United States and foreign countries; Formas ability to fund operations; Formas ability to identify satisfactory collaboration opportunities, as well as those risks and uncertainties set forth more fully under the caption "Risk Factors" in the final prospectus dated June 22, 2020 and filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, with the United States Securities and Exchange Commission (SEC) and elsewhere in Formas filings and reports with the SEC. Forma disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent Formas views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Forma explicitly disclaims any obligation to update any forward-looking statements.

2020

2019

2020

2019

$ -

$ 3,377

$ -

$ 93,113

24,780

27,558

68,501

84,273

7,460

7,025

22,841

17,631

-

545

63

5,620

32,240

35,128

91,405

107,524

(32,240)

(31,751)

(91,405)

(14,411)

818

766

23,050

3,057

(31,422)

(30,985)

(68,355)

(11,354)

(3,806)

-

(26,529)

(1,217)

$ (27,616)

$ (30,985)

$ (41,826)

$ (10,137)

-

(607)

(3,736)

(2,395)

-

-

-

(11,347)

-

(60)

-

(60)

$ (27,616)

$ (45,562)

(8)

-

$ (27,624)

$ (45,562)

$ (31,652)

$ (23,939)

(198)

(515)

$ (31,850)

$ (24,454)

$ (0.67)

$ (2.74)

$ (0.67)

$ (2.74)

$ (12.42)

$ (9.40)

$ (12.50)

$ (9.60)

41,088,261

16,616,143

41,088,924

16,616,143

2,547,924

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Forma Therapeutics Reports Third Quarter 2020 Financial Results and Provides Business Update - Galveston County Daily News