Top Page
4D Molecular Therapeutics
(NASDAQ:FDMT)
4D Molecular Therapeutics (FDMT) vs. SPDR S&P 500 ETF (SPY)
4D Molecular Therapeutics Business Overview & Revenue Model
4D Molecular Therapeutics Financial Statement Overview
| 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
4D Molecular Therapeutics Risk Analysis
4D Molecular Therapeutics Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $627.91M | ― | -45.38% | ― | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $489.05M | -5.62 | -36.94% | ― | 31.30% | 32.79% | |
47 Neutral | $355.36M | -5.58 | -29.83% | ― | ― | -40.26% | |
45 Neutral | $59.14M | ― | -63.46% | ― | ― | 21.61% | |
43 Neutral | $352.84M | -2.90 | -64.26% | ― | ― | -11.41% | |
27 Underperform | $471.36M | ― | -43.75% | ― | ― | 9.32% |
4D Molecular Therapeutics Corporate Events
4D Molecular Therapeutics, Inc. is a biotechnology company focused on developing durable and disease-targeted therapeutics, particularly for retinal vascular diseases and cystic fibrosis. In its third-quarter 2025 earnings report, 4DMT highlighted a strategic partnership with Otsuka Pharmaceutical Co., Ltd., positive clinical trial data, and a strengthened financial position. The company reported an $85 million upfront payment from Otsuka and expects additional cost-sharing contributions. It also completed an equity offering, raising approximately $93 million, and secured an $11 million investment from the Cystic Fibrosis Foundation to advance its 4D-710 program. Financially, 4DMT reported a net loss of $56.9 million for the quarter, with increased R&D expenses attributed to its Phase 3 trials. Despite the losses, the company maintains a strong cash position, expected to fund operations into the second half of 2028. Looking ahead, 4DMT is positioned to continue its clinical advancements, with key trials for its lead candidates, 4D-150 and 4D-710, progressing as planned.
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.
The most recent analyst rating on (FDMT) stock is a Buy with a $45.00 price target. To see the full list of analyst forecasts on 4D Molecular Therapeutics stock, see the FDMT Stock Forecast page.
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.
The most recent analyst rating on (FDMT) stock is a Buy with a $31.00 price target. To see the full list of analyst forecasts on 4D Molecular Therapeutics stock, see the FDMT Stock Forecast page.
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.
The most recent analyst rating on (FDMT) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on 4D Molecular Therapeutics stock, see the FDMT Stock Forecast page.
Study Overview: The clinical study titled A Phase 3, Randomized, Double-Masked, Active-Controlled Trial of a Single Intravitreal Injection of 4D-150 in Adults With Macular Neovascularization Secondary to Age-Related Macular Degeneration aims to evaluate the efficacy and safety of a single intravitreal injection of 4D-150. This study focuses on treating macular neovascularization, a condition linked to age-related macular degeneration, which is a leading cause of vision loss in older adults.
4D Molecular Therapeutics, Inc. is conducting a clinical study titled ‘A Phase 1/2 Dose-Escalation and Randomized, Controlled, Masked Expansion Trial of Intravitreal 4D-150 Gene Therapy in Adults With Neovascular (Wet) Age-Related Macular Degeneration.’ The study aims to evaluate the safety and efficacy of 4D-150, a gene therapy, in treating wet age-related macular degeneration (AMD), a leading cause of vision loss. This research is significant as it explores a novel treatment approach for a condition with limited therapeutic options.
Study Overview: 4D Molecular Therapeutics, Inc. is conducting an open-label, Phase 1/2 trial titled An Open-label, Phase 1/2 Trial of Gene Therapy 4D-710 in Adults With Cystic Fibrosis. The study aims to evaluate the safety and efficacy of the investigational gene therapy 4D-710 in adults with cystic fibrosis, a condition affecting the lungs. This trial is significant as it explores a novel treatment approach for patients who may not respond to existing therapies.
4D Molecular Therapeutics, Inc. is conducting a Phase 3 clinical trial titled ‘A Phase 3, Randomized, Double-Masked, Active-Controlled Trial of a Single Intravitreal Injection of 4D-150 in Adults With Macular Neovascularization Secondary to Age-Related Macular Degeneration.’ The study aims to evaluate the efficacy of 4D-150 in treating macular neovascularization caused by age-related macular degeneration, a significant cause of vision loss in older adults.
Study Overview: 4D Molecular Therapeutics, Inc. is conducting an open-label, Phase 1/2a trial titled ‘An Open-Label, Phase 1/2a Trial of Gene Therapy 4D-310 in Adults With Fabry Disease and Cardiac Involvement.’ The study aims to evaluate the safety, tolerability, and pharmacodynamics of the gene therapy 4D-310 in adult patients with Fabry Disease and cardiac involvement, highlighting its potential significance in addressing this rare genetic disorder.
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.
The most recent analyst rating on (FDMT) stock is a Buy with a $36.00 price target. To see the full list of analyst forecasts on 4D Molecular Therapeutics stock, see the FDMT Stock Forecast page.
4D Molecular Therapeutics, Inc. faces significant business risk in the successful commercialization of its product candidates due to the complexities of obtaining coverage and adequate reimbursement from governmental authorities, private health insurers, and other third-party payors. The variability in regulations governing marketing approvals, pricing, and reimbursement across different countries can lead to delays and adverse pricing limitations, potentially hindering the company’s ability to recoup investments. Additionally, the trend of cost containment in the healthcare industry, coupled with the challenges of demonstrating superior treatment outcomes compared to lower-priced alternatives, may further complicate the reimbursement process. These factors collectively pose a threat to the company’s revenue generation capabilities and overall business success.
4D Molecular Therapeutics, Inc. is a biotechnology company focused on developing durable and disease-targeted therapeutics, particularly in the field of genetic medicine for retinal and pulmonary diseases. In its second quarter of 2025, 4DMT reported significant progress in its clinical programs, particularly with its lead product candidate, 4D-150, for wet age-related macular degeneration (AMD) and diabetic macular edema (DME). The company has accelerated its Phase 3 program for 4D-150 in wet AMD, with the 4FRONT-1 data readout moved up to the first half of 2027, and the initiation of 4FRONT-2 ahead of schedule. Additionally, positive 60-week results from the SPECTRA trial in DME were presented, showcasing favorable tolerability and sustained treatment effects.