4D Molecular Therapeutics (FDMT) AI Stock Analysis

• Market Cap: $658.20M
• Dividend Yield: N/A
• Average Volume (3M): 841.91K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.08
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 227
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.01
• Shares Outstanding: 57,135,075
• 10 Day Avg. Volume: 772,291
• 30 Day Avg. Volume: 841,914
• PEG Ratio: -0.12
• Price to Book (P/B): 0.59
• Price to Sales (P/S): 8120.72
• P/FCF Ratio: -2.17
• Enterprise Value/Market Cap: 0.31
• Enterprise Value/Revenue: 1.71K
• Enterprise Value/Gross Profit: -2.12
• Enterprise Value/Ebitda: -0.90
• 1Y Price Target: $34.40
• Price Target Upside: 273.51% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): -3.26
• Revenue Forecast (FY): $33.52M

• Rating: 60 Neutral
• Price Target: $11.00 ▲(19.44% Upside)

4D Molecular Therapeutics shows potential due to positive corporate events and technical indicators, but financial performance and valuation remain challenging. The company's ability to secure financing and strategic partnerships is a strong positive, but ongoing financial losses and negative cash flow present risks. The stock's technical strength and strategic moves in the APAC market are key drivers of its score.

Positive Factors

Strategic Partnership

The partnership with Otsuka enhances 4D Molecular's market presence in the APAC region, providing financial gains and expanded market reach, which is crucial for long-term growth.

Financial Stability

Strong cash reserves and strategic partnerships provide a financial runway into 2028, supporting long-term operational stability and development activities.

Clinical Trial Success

Successful trial results for 4D-150 in wet AMD indicate promising therapeutic potential, strengthening the company's position in the ophthalmology market.

Negative Factors

Negative Cash Flow

Ongoing negative cash flow reflects high operational costs typical of biotech firms, posing a risk to financial sustainability without continued external funding.

Revenue Challenges

Significantly lower-than-expected revenue highlights challenges in achieving consistent revenue streams, impacting long-term profitability and financial health.

Operational Losses

Persistent operational losses indicate challenges in achieving profitability, which could limit the company's ability to invest in growth and innovation.

4D Molecular Therapeutics Business Overview & Revenue Model

Company Description

4D Molecular Therapeutics (FDMT) is a biotechnology company focused on developing innovative gene therapies for the treatment of genetically defined diseases. Utilizing its proprietary 4D platform, the company designs and optimizes adeno-associated virus (AAV) vectors that can deliver therapeutic genes effectively to target tissues. FDMT operates primarily in the sectors of gene therapy and molecular medicine, and its core products revolve around its advanced AAV therapies aimed at addressing unmet medical needs in various genetic disorders.

How the Company Makes Money

4D Molecular Therapeutics generates revenue through a combination of partnerships, collaborations, and licensing agreements with pharmaceutical and biotechnology companies. The company may receive upfront payments, research funding, and milestone payments as it advances its therapeutic candidates through clinical trials. Additionally, FDMT could earn royalties on future sales of products developed through these collaborations. Significant partnerships with larger pharmaceutical firms enhance its financial stability and provide access to broader resources for development and commercialization efforts.

4D Molecular Therapeutics Financial Statement Overview

Summary

4D Molecular Therapeutics faces significant financial challenges typical of the biotechnology sector, particularly in early-stage development without consistent revenue streams. The balance sheet shows improvement, but the negative income and cash flow trends highlight ongoing operational hurdles. Future success will rely heavily on successful research outcomes and continued access to financing.

Income Statement

The company has experienced erratic revenue trends with significant fluctuations over the years. The lack of revenue in 2024 compared to the previous year denotes a challenging operational environment. Negative net income has been persistent, showcasing difficulties in achieving profitability. Margins are negative, and although the company had some revenue growth in prior years, sustainability remains questionable.

Balance Sheet

The company's balance sheet shows a strong equity base due to significant cash holdings, which is a positive aspect. However, the company's financial stability is undermined by negative equity in previous years. Recent improvements in stockholders' equity and low debt levels indicate improving financial health, but past fluctuations present a risk.

Cash Flow

Cash flow from operations is consistently negative, reflecting ongoing cash burn typical of early-stage biotech companies. While free cash flow remains negative, the increase in financing activities suggests reliance on external funding to sustain operations. Positive trends in financing cash flow are countered by high levels of capital expenditure.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	120.00K	37.00K	20.72M	3.13M	18.04M	13.61M
Gross Profit	-96.85M	37.00K	-76.37M	-77.12M	-43.32M	-39.43M
EBITDA	-226.81M	-181.14M	-108.66M	-107.63M	-69.81M	-55.22M
Net Income	-209.18M	-160.87M	-100.84M	-107.49M	-71.32M	-56.69M
Balance Sheet
Total Assets	423.98M	560.38M	339.89M	261.85M	353.49M	288.33M
Cash, Cash Equivalents and Short-Term Investments	305.06M	424.88M	288.23M	213.55M	247.78M	276.73M
Total Debt	22.26M	24.61M	14.67M	16.12M	16.45M	0.00
Total Liabilities	55.00M	49.78M	32.06M	30.51M	34.38M	31.94M
Stockholders Equity	368.98M	510.61M	307.83M	231.34M	319.11M	256.39M
Cash Flow
Free Cash Flow	-185.05M	-138.37M	-78.56M	-98.22M	-78.24M	-51.91M
Operating Cash Flow	-183.50M	-134.59M	-75.79M	-86.69M	-69.13M	-50.91M
Investing Cash Flow	42.93M	-302.44M	115.72M	-17.05M	-172.68M	-1.00M
Financing Cash Flow	1.58M	337.25M	156.83M	3.08M	118.09M	278.98M

4D Molecular Therapeutics Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 9.21
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FDMT, the sentiment is Neutral. The current price of 9.21 is below the 20-day moving average (MA) of 10.76, below the 50-day MA of 10.67, and above the 200-day MA of 6.25, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 39.79 is Neutral, neither overbought nor oversold. The STOCH value of 50.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FDMT.

4D Molecular Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FDMT	60 Neutral	$658.20M	-2.34	-45.38%	―	―	―
ASMB	53 Neutral	$529.87M	-6.78	-36.94%	―	31.30%	32.79%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
DSGN	47 Neutral	$547.99M	-7.46	-29.83%	―	―	-40.26%
KRRO	45 Neutral	$77.41M	-0.84	-63.46%	―	―	21.61%
AURA	43 Neutral	$392.45M	-3.03	-64.26%	―	―	-11.41%
IMRX	27 Underperform	$370.63M	-3.08	-43.75%	―	―	9.32%

4D Molecular Therapeutics Corporate Events

4D Molecular Therapeutics Expands Phase 3 Trial Enrollment

On December 10, 2025, 4D Molecular Therapeutics announced amendments to its Phase 3 clinical trials for 4D-150 in wet AMD, increasing target enrollment from 400 to 480 patients per trial. These changes are aimed at enhancing the trials’ power for global regulatory submissions and reflect the company’s evolving view of the commercial opportunity for 4D-150. The amendments are not expected to impact the company’s financial projections or enrollment timelines, with 4FRONT-1 and 4FRONT-2 trials continuing as planned, targeting completion in 2026 and topline data disclosure in 2027.

4D Molecular Therapeutics Appoints New Chief Financial Officer

On November 17, 2025, 4D Molecular Therapeutics, Inc. appointed Kristian Humer as Chief Financial Officer and Principal Financial Officer. Mr. Humer brings extensive experience from his previous roles at Foghorn Therapeutics, Viridian Therapeutics, and Citigroup Global Markets. His compensation package includes a base salary of $520,000, a performance bonus, stock options, and a sign-on bonus. The offer includes severance benefits and conditions tied to a change in control, with no disclosed family or transactional ties affecting his appointment.

4D Molecular Therapeutics Closes $93.3 Million Stock Offering

On November 6, 2025, 4D Molecular Therapeutics, Inc. entered into an underwriting agreement with Leerink Partners LLC and Evercore Group L.L.C. to issue and sell 8,385,809 shares of its common stock and pre-funded warrants for additional shares, raising approximately $93.3 million in net proceeds. The offering closed on November 7, 2025, and was conducted under a prospectus supplement filed with the SEC, with the company agreeing to indemnify the underwriters against certain liabilities and implementing a lock-up period until January 6, 2026, for its directors and executive officers.

4D Molecular Therapeutics Reports Positive Interim Trial Results

On November 6, 2025, 4D Molecular Therapeutics announced positive interim results from their Phase 1/2 PRISM clinical trial for 4D-150, a treatment for wet age-related macular degeneration (wet AMD). The data, collected up to August 22, 2025, shows that 4D-150 effectively maintains visual acuity and controls retinal anatomy, while significantly reducing the treatment burden through fewer anti-VEGF injections over a period of up to two years. The trial’s results suggest durable disease control and favorable safety outcomes, positioning 4D-150 as a promising therapeutic option in the ophthalmology market.

4D Molecular Therapeutics Partners with Otsuka for APAC Market

On October 31, 2025, 4D Molecular Therapeutics entered into a collaboration agreement with Otsuka Pharmaceutical, granting Otsuka exclusive rights to develop and commercialize 4D-150 for ophthalmological diseases in the Asia-Pacific region. This agreement includes an upfront payment of $85 million and potential milestone payments, with both companies sharing development costs. The collaboration is expected to enhance 4D Molecular Therapeutics’ market presence in the APAC region while retaining rights outside these territories, potentially impacting stakeholders positively through expanded market reach and financial gains.

4D Molecular Therapeutics Appoints New Financial Officer

On September 30, 2025, 4D Molecular Therapeutics appointed Ashoo Gupta as Principal Financial Officer and Principal Accounting Officer, following his role as Vice President, Finance & Controller since June 2024. Additionally, the Board amended the company’s bylaws to update procedures for business meetings and director nominations, reflecting an effort to streamline governance practices.