Full Press Release Details
EMERYVILLE, Calif., Nov. 10, 2025 (GLOBE NEWSWIRE) -- 4D Molecular Therapeutics (Nasdaq: FDMT, 4DMT or the Company), a leading late-stage biotechnology company advancing durable and disease-targeted therapeutics with potential to transform treatment paradigms and provide unprecedented benefits to patients, today reported Q3 2025 financial results, provided operational highlights and outlined expected upcoming milestones.
“In the third quarter, we made meaningful progress building upon and validating our business strategy focusing on 4D-150 and 4D-710,” said David Kirn, M.D., Co-founder and Chief Executive Officer of 4DMT. “Our recently announced partnership with Otsuka, new data on 4D-150 in wet age-related macular degeneration, equity investment from the Cystic Fibrosis Foundation for advancement of 4D-710 and strengthened balance sheet position us well, with cash runway into 2H 2028, beyond primary readout for our two ongoing 4D-150 4FRONT Phase 3 trials in wet AMD, and provides for indication expansion in diabetic macular edema.”
Recent Corporate Highlights
Recent Highlights and Expected Milestones for 4D-150
Recent Highlights and Expected Milestones in 4D-710 Program
Q3 2025 Financial Results
Cash Position:Cash, cash equivalents and marketable securities were $372 million as of September 30, 2025, as compared to $505 million as of December 31, 2024. The net decrease in cash was primarily a result of cash used in operations. Based on our current operating plan, we estimate that our existing cash, cash equivalents and marketable securities, and expected payments under our collaboration agreement with Otsuka, together with the net proceeds from the November 2025 equity offering, will be sufficient to fund our operating expenses and capital expenditure requirements at least into the second half of 2028.
R&D Expenses:Research and development expenses were $49.4 million for the third quarter of 2025, as compared to $38.5 million for the third quarter of 2024. This increase was primarily driven by the Phase 3 clinical trials of 4D-150 in wet AMD.
G&A Expenses:General and administrative expenses were $11.8 million for the third quarter of 2025, as compared to $12.7 million for the third quarter of 2024. The decrease was primarily due to decreased headcount of general and administrative personnel.
Net Loss:Net loss was $56.9 million for the third quarter of 2025, as compared to net loss of $43.8 million for the third quarter of 2024.
About 4DMT
4DMT is a leading late-stage biotechnology company advancing durable and disease-targeted therapeutics with potential to transform treatment paradigms and provide unprecedented benefits to patients. The Company’s lead product candidate 4D-150 is designed to be a backbone therapy forming the foundation of treatment of blinding retinal vascular diseases by providing multi-year sustained delivery of anti-VEGF (aflibercept and anti-VEGF-C) with a single, safe, intravitreal injection, which substantially reduces the treatment burden associated with current bolus injections. The Company’s lead indication for 4D-150 is wet age-related macular degeneration, which is currently in Phase 3 development, and second indication is diabetic macular edema. The Company’s second product candidate is 4D-710, which is the first known genetic medicine to demonstrate successful delivery and expression of the CFTR transgene in the lungs of people with cystic fibrosis after aerosol delivery. 4D Molecular Therapeutics™, 4DMT™, Therapeutic Vector Evolution™, and the 4DMT logo are trademarks of 4DMT.
All of the Company’s product candidates are in clinical or preclinical development and have not yet been approved for marketing by the U.S. Food and Drug Administration or any other regulatory authority. No representation is made as to the safety or effectiveness of the Company’s product candidates for the therapeutic uses for which they are being studied.
Learn more atwww.4DMT.comand follow us onLinkedIn.
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, implied and express statements regarding the therapeutic potential and clinical benefits of, as well as the plans, announcements and related timing for the clinical development of our product candidates, the potential benefits of the strategic partnership with Otsuka, the amount of any potential cost sharing or milestone payments pursuant to the Company’s agreement with Otsuka, the Company’s use of proceeds, the potential benefits of the investment from and collaboration with the CF Foundation, the potential additional second tranche funding from the CF Foundation and statements regarding our financial performance, results of operations and anticipated cash runway. The words "may," “might,” "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," “expect,” "estimate," “seek,” "predict," “future,” "project," "potential," "continue," "target" and similar words or 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 management's 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 risks and uncertainties that are described in greater detail in the section entitled "Risk Factors" in 4D Molecular Therapeutics’ most recent Quarterly Report on Form 10-Q filed on or about the date hereof, as well as any subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent 4D Molecular Therapeutics' views only as of today and should not be relied upon as representing its views as of any subsequent date. 4D Molecular Therapeutics explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
| 4D Molecular Therapeutics, Inc.Statements of Operations(Unaudited)(in thousands, except share and per share amounts) | ||||||||||||||||
| Three months endedSeptember 30, | Nine months endedSeptember 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue: | ||||||||||||||||
| Collaboration and license revenue | $ | 90 | $ | 3 | $ | 119 | $ | 36 | ||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 49,438 | 38,484 | 138,088 | 98,212 | ||||||||||||
| General and administrative | 11,837 | 12,651 | 36,293 | 33,548 | ||||||||||||
| Total operating expenses | 61,275 | 51,135 | 174,381 | 131,760 | ||||||||||||
| Loss from operations | (61,185 | ) | (51,132 | ) | (174,262 | ) | (131,724 | ) | ||||||||
| Other income, net | 4,309 | 7,289 | 14,756 | 20,527 | ||||||||||||
| Net loss | $ | (56,876 | ) | $ | (43,843 | ) | $ | (159,506 | ) | $ | (111,197 | ) | ||||
| Net loss per share, basic and diluted | $ | (1.01 | ) | $ | (0.79 | ) | $ | (2.85 | ) | $ | (2.08 | ) | ||||
| Weighted-average shares outstanding used in computing net loss per share, basic and diluted | 56,126,330 | 55,554,476 | 55,933,890 | 53,377,712 |
| 4D Molecular Therapeutics, Inc.Balance Sheet Data(Unaudited)(in thousands) | ||||||||
| September 30,2025 | December 31,2024 | |||||||
| Cash, cash equivalents and marketable securities | $ | 372,228 | $ | 505,460 | ||||
| Total assets | 423,982 | 560,384 | ||||||
| Total liabilities | 54,999 | 49,778 | ||||||
| Accumulated deficit | (735,701 | ) | (576,195 | ) | ||||
| Total stockholders’ equity | 368,983 | 510,606 |