Core Insights - 4D Molecular Therapeutics, Inc. reported a strong Q4 2025 EPS of $0.43, a significant improvement from the expected loss of -$0.53, driven by one-time collaboration revenue [3][6] - The full-year 2025 results showed a narrowed net loss of $140 million, improving from a loss of $161 million in 2024 [3] - Revenue for full-year 2025 was $85 million, primarily from Q4 collaboration, indicating growth potential from partnerships [4] Financial Performance - Q4 2025 revenue was $85.09 million, exceeding expectations by approximately 147.86%, mainly due to an $85 million upfront collaboration payment from Otsuka Pharmaceutical [6] - The company maintains a strong balance sheet with a low debt-to-equity ratio of ~0.042 and a high current ratio of ~9.39 [5] - As of December 31, 2025, the company had $514 million in cash, cash equivalents, and marketable securities, providing financial stability into the second half of 2028 [5] Industry Context - 4D Molecular Therapeutics operates in the Zacks Medical - Drugs industry, competing in the gene therapy space [2] - The company's performance highlights the potential for growth in gene therapy partnerships, although sustainability will depend on pipeline progress and future milestones [4]

4D Molecular Therapeutics, Inc. (FDMT) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of a loss of $0.53 per share. This compares to a loss of $0.9 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +180.75%. A quarter ago, it was expected that this company would post a loss of $1.02 per share when it actually produced a loss of $1.01, delivering a surprise of +0.98%.Over the last four q ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39782 4D Molecular Therapeutics, Inc. (Exact name of registrant as specified in its charter) Delaware 47-3506994 (State or other juri ...

Exhibit 99.1 4DMT Reports Full Year 2025 Financial Results, Operational Highlights and Expected Upcoming Milestones EMERYVILLE, Calif., March 18, 2026 (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 full year 2025 financial results, provided operational highlights and ou ...

Completed enrollment in 4D-150 4FRONT-1 wet AMD Phase 3 trial within approximately 11 months, ahead of initial projections and reflecting strong interest from investigators and patients; topline data expected in H1 2027PRISM wet AMD Phase 2b 2-year data expected in mid-2026 and SPECTRA DME trial 2-year data in H2 20264D-150 DME global Phase 3 trial initiation expected in Q3 2026$514 million in cash, cash equivalents and marketable securities expected to fund current operating plan into second half of 2028 E ...

Core Insights - 4D Molecular Therapeutics is a late-stage biotechnology company focused on developing durable and disease-targeted therapeutics that aim to transform treatment paradigms and provide significant benefits to patients [2][3] Company Overview - The lead product candidate, 4D-150, is designed to treat blinding retinal vascular diseases by offering multi-year sustained delivery of anti-VEGF biologics through a single intravitreal injection, significantly reducing the treatment burden compared to current methods [2] - 4D-150 is currently in Phase 3 development for wet age-related macular degeneration and is also being studied for diabetic macular edema [2] - The second product candidate, 4D-710, is the first genetic medicine to successfully deliver and express the CFTR transgene in the lungs of cystic fibrosis patients via aerosol delivery [2] Upcoming Events - Management will present and hold one-on-one meetings at investor conferences in March 2026, including the Leerink Partners Mountain Meeting from March 22-25 and the RBC Capital Markets Global Ophthalmology Conference on March 24 at 3:45 p.m. GMT [1]

Company Overview - 4D Molecular Therapeutics is a next-generation gene therapy company founded approximately 12 years ago, focusing on developing tissue-specific vectors and capsids through a platform called directed evolution [2] - The company aims to deliver safer doses and target larger market therapeutic areas rather than just rare diseases, which is common in many gene therapies [2] Lead Program - The lead program of the company is 4D-150, which is currently progressing through Phase III trials [3] - This program targets retinal diseases, with lead indications for wet age-related macular degeneration and plans to initiate a Phase III trial for diabetic macular edema in the future [3]

Summary of 4D Molecular Therapeutics FY Conference Call Company Overview - **Company**: 4D Molecular Therapeutics (NasdaqGS:FDMT) - **Founded**: Approximately 12 years ago - **Focus**: Next-generation gene therapy, particularly in large market therapeutic areas rather than rare diseases - **Lead Program**: 4D-150, currently in Phase 3 for retinal diseases, specifically targeting wet age-related macular degeneration (AMD) and diabetic macular edema (DME) [2][3] Core Points and Arguments - **Market Potential**: The anti-VEGF market is projected to be worth about $20 billion during the launch window, indicating significant growth and interest in the retinal disease space [4] - **Treatment Burden Reduction**: 4D-150 aims to reduce treatment burden by 80%-90% compared to existing therapies, potentially allowing patients to maintain vision gains for life [6][7] - **Delivery Method**: 4D-150 utilizes a simple intravitreal injection, making it more convenient for both patients and clinics compared to other gene therapies that may require more invasive procedures [8][9] - **Efficacy and Safety**: Phase 2 data shows a treatment burden reduction of about 80% in hard-to-treat patients, with a safety profile consistent with current standards of care, including an intraocular inflammation rate of less than 3% [12][17] Phase 3 Expectations - **Patient Population**: The Phase 3 program is designed for treatment-naive patients, with expectations to replicate the positive results seen in Phase 2 [20] - **Enrollment Success**: Enrollment for the first Phase 3 trial (4FRONT-1) was completed in about 11 months, indicating strong demand and interest from physicians and patients [35] DME Program - **Market Opportunity**: DME is seen as a significant commercial opportunity, potentially even larger than AMD due to greater unmet needs and a younger patient demographic [36][38] - **Regulatory Alignment**: The company has alignment with the FDA and EMA for a single DME trial, with plans to start Phase 3 in Q3 of the current year [37] Cystic Fibrosis Program - **Partnership**: Collaboration with the CF Foundation for funding and development of the cystic fibrosis program, with updates expected in the second half of the year [40][41] Financial Overview - **Cash Runway**: As of the end of last year, the company had $514 million in cash, expected to last into the second half of 2028, covering the costs of ongoing trials [46] - **Cost of Goods**: The cost of goods for 4D-150 is below $1,000 per injection, allowing for flexible pricing strategies to maximize patient access [47][54] Pricing Strategy - **Value Proposition**: The pricing strategy will focus on delivering value to payers, patients, and physicians, with the aim of being a backbone therapy rather than a niche product [53] - **Economic Benefits for Clinics**: The economic model for clinics is expected to be more favorable with 4D-150, as it could reduce the number of injections needed and improve patient retention [55] Additional Insights - **Safety Profile Confidence**: The safety profile is bolstered by the use of a proprietary capsid developed through non-human primate models, allowing for targeted delivery and lower dosing [26][28] - **Market Competition**: The company acknowledges competition in the gene therapy space but believes there is room for multiple players due to the size of the market [8] This summary encapsulates the key points discussed during the conference call, highlighting the company's strategic direction, market potential, and innovative approaches in gene therapy.

Summary of 4D Molecular Therapeutics Conference Call Company Overview - **Company**: 4D Molecular Therapeutics (NasdaqGS:FDMT) - **Event**: 2026 Leerink Partners Global Healthcare Conference - **Date**: March 10, 2026 Key Points Enrollment and Clinical Trials - **4FRONT Program**: Focus on the speed and completion of enrollment for the 4FRONT program, which includes two Phase 3 studies: 4FRONT-1 (U.S.) and 4FRONT-2 (global) [3][4] - **Enrollment Success**: 4FRONT-1 completed enrollment in 11 months, ahead of the projected 18 months, with approximately 500 patients enrolled [5] - **Patient Need**: High unmet need and physician enthusiasm reflected in the rapid enrollment [5][6] - **ASRS PAT Survey**: 54% of retina specialists find gene therapy the most exciting development, indicating strong interest in 4D-150 [7] Product Details - **Lead Asset**: 4D-150, targeting wet AMD and DME, designed to express aflibercept with low inflammatory potential [4] - **Efficacy**: In the PRISM study, 80% reduction in treatment burden for severe patients; 90% reduction for recently diagnosed patients, with 70% injection-free [10][11] - **Patient Population**: Focus on treatment-naive patients for pivotal trials, which aligns with FDA expectations for vision benefit [13][14] Market Dynamics - **U.S. vs. EU**: Different reimbursement models; U.S. relies on a buy-and-bill model while EU pricing is more government-controlled [19][20] - **Economic Benefits**: 4D-150 expected to alleviate treatment burden and improve practice capacity, making it economically beneficial for clinics [19] - **Vision Preservation**: Potential to show long-term vision preservation, which is a significant value proposition for payers [21][38] Commercialization Strategy - **Physician Engagement**: Ongoing efforts to educate physicians on the new treatment model, shifting from "treat and extend" to "treat and monitor" [24][26] - **Medical Team Development**: Plans to build a medical team to engage with the retina community ahead of product approval [29] - **International Markets**: Partnering for commercialization in Asia Pacific, with Japan as a key market; potential for similar partnerships in Europe post-Phase 3 data [31][32] Financial Overview - **Cash Position**: As of December 31, over $510 million in cash, with a runway extending into the second half of 2028 [58] - **Funding for Trials**: DME trial fully funded; commercial ramp-up post-4FRONT-1 data not yet funded [58] Future Opportunities - **DME and Diabetic Retinopathy**: Significant under-treatment in DME presents a large market opportunity; potential to expand into diabetic retinopathy [48][50] - **Regulatory Alignment**: Alignment with FDA and EMA for DME study filing, indicating a streamlined path for future studies [48] Additional Considerations - **Pricing Strategy**: Need to balance pricing between U.S. and EU markets, considering the impact of MFN (Most Favored Nation) policies [36][39] - **Long-term Vision**: Emphasis on the importance of demonstrating the value of 4D-150 in preserving vision and reducing treatment burden to justify pricing [37][38] This summary encapsulates the critical insights from the conference call, highlighting the company's strategic direction, product potential, and market dynamics.

Core Viewpoint - 4D Molecular Therapeutics aims to redefine genetic medicines by developing durable disease-targeted therapeutics for large market diseases, with a primary focus on their lead product, 4D-150, currently in Phase III trials for wet AMD [2][3]. Development Focus - The primary focus of 4D Molecular Therapeutics is on 4D-150, which is in Phase III trials for wet AMD, with positive progress reported in the pivotal trial [3]. - The company plans to initiate a Phase III trial for diabetic macular edema later this year, building on Phase II results [2][3]. Additional Assets - In addition to the retina program, 4D Molecular Therapeutics is developing assets in pulmonology, specifically 4D-710 and 4D-725, which are fully funded through support from the CF Foundation and a grant from CIRM [4].