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X-Linked Retinitis Pigmentosa: one US-listed biotech with a clinical-stage programme

OphthalmologyUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$768Muniverse median $1.20B
Allocated capital$192M$768M competing
Phase 3 or filed00 mid, 1 early
Pure plays0this indication only
Capital rank255/299crowding rank 257

X-Linked Retinitis Pigmentosa is uncontested. 4D Molecular Therapeutics (FDMT) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with 4D-125 IVT in phase 1.

There is no public comparable to price it against. FDMT spreads its $768M market cap across 4 indications, so $192M of it is allocated here.

Nothing here has reached Phase 3: 0 programmes in mid stage and 1 in early stage, so the field is still several years from a first approval.

$192M of allocated capital sits in X-Linked Retinitis Pigmentosa, ranking it 255th of 299 indications by the money committed to it.

Companies developing drugs for X-Linked Retinitis Pigmentosa 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
FDMT4D Molecular Therapeutics4D-125 IVTPhase 11$768MNo4 30 Sep 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why X-Linked Retinitis Pigmentosa counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. X-Linked Retinitis Pigmentosa has one competitor and a median of $768M.

Ophthalmology

Ophthalmology holds $17.0B of the map's capital, 2.5% of the total, spread across 9 indications and 13 companies. 6 of those indications have more than one company competing.

See every Ophthalmology indication on the map

Related indications in Ophthalmology

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X-Linked Retinitis Pigmentosa pipeline questions

Which biotech companies are developing drugs for X-Linked Retinitis Pigmentosa?

4D Molecular Therapeutics (FDMT, 4D-125 IVT, Phase 1). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in X-Linked Retinitis Pigmentosa.

How advanced is the X-Linked Retinitis Pigmentosa pipeline?

Of the 1 clinical-stage programme in X-Linked Retinitis Pigmentosa, 0 are in Phase 3 or filed, 0 are in mid-stage development and 1 is in early-stage development.

Is anyone else developing a drug for X-Linked Retinitis Pigmentosa?

No. FDMT is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in X-Linked Retinitis Pigmentosa, which is why the indication is classified as uncontested.

When is the next X-Linked Retinitis Pigmentosa catalyst?

The next dated catalyst in X-Linked Retinitis Pigmentosa is FDMT on 30 Sep 2026. 1 dated event across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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