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4DMT Reports Full Year 2024 Financial Results, Operational Highlights and Expected Upcoming Milestones
FDMT4D Molecular Therapeutics(FDMT) GlobeNewswire·2025-02-28 21:05

Core Insights - 4D Molecular Therapeutics reported a landmark year in 2024, with significant clinical advancements positioning the company for success in 2025 and beyond [2] - The company aims to transform treatment paradigms for retinal vascular diseases with its lead product, 4D-150, which is expected to provide long-lasting disease control and reduce the need for frequent injections [2][14] - Financial results indicate a strong cash position, with 505millionincashandequivalentsasofDecember31,2024,expectedtofundoperationsinto2028[10][20]RecentCorporateHighlights−PositiveinterimdatafromthePRISMandSPECTRAclinicaltrialsfor4D−150inwetAMDandDMEdemonstraterobustclinicalactivityandtolerability[5][8]−Thecompanyisstrategicallyfocusingitspipelineon4D−150forwetAMDandDME,and4D−710forcysticfibrosis,whilepausinginvestmentinothertherapeuticcandidates[6][14]−TheinitiationofPhase3trialsfor4D−150isexpectedinMarch2025,withtoplinedataanticipatedinthesecondhalfof2027[5][10]FinancialPerformance−Researchanddevelopmentexpensesincreasedto505 million in cash and equivalents as of December 31, 2024, expected to fund operations into 2028 [10][20] Recent Corporate Highlights - Positive interim data from the PRISM and SPECTRA clinical trials for 4D-150 in wet AMD and DME demonstrate robust clinical activity and tolerability [5][8] - The company is strategically focusing its pipeline on 4D-150 for wet AMD and DME, and 4D-710 for cystic fibrosis, while pausing investment in other therapeutic candidates [6][14] - The initiation of Phase 3 trials for 4D-150 is expected in March 2025, with topline data anticipated in the second half of 2027 [5][10] Financial Performance - Research and development expenses increased to 141.3 million in 2024 from 97.1millionin2023,drivenbytheprogressionofclinicaltrials[11]−Generalandadministrativeexpensesroseto97.1 million in 2023, driven by the progression of clinical trials [11] - General and administrative expenses rose to 46.6 million in 2024 compared to 36.5millionin2023[11]−Thenetlossfor2024was36.5 million in 2023 [11] - The net loss for 2024 was 160.9 million, up from a net loss of 100.8millionin2023,withanetlosspershareof100.8 million in 2023, with a net loss per share of 2.98 [12][18] Cash Position and Future Outlook - The company reported a net increase in cash primarily due to a public offering, with cash and equivalents rising from 299millionin2023to299 million in 2023 to 505 million in 2024 [10][20] - The cash runway is extended into 2028, allowing for continued clinical development and operational activities [6][10] - Upcoming milestones include interim data updates for 4D-150 in DME expected in Q3 2025 and further data from ongoing clinical trials [9][10]