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Mar 31, 2023
4DMT Q1 2023 Earnings Report
Reported first quarter 2023 financial results and provided operational highlights.
Key Takeaways
4D Molecular Therapeutics reported positive interim data from the PRISM clinical trial, acquired rights to sCFH, and closed an upsized public offering, with cash expected to fund operations into the first half of 2026.
Presented positive interim data from intravitreal 4D-150 Phase 1/2 PRISM clinical trial for wet AMD at the 2023 ARVO Annual Meeting.
On track for completion of enrollment of the Phase 2 Dose Expansion Stage of the PRISM clinical trial in Q3 2023.
Acquired all worldwide rights to short-form human complement factor H (sCFH) from Aevitas Therapeutics, Inc. and announced sCFH as payload for 4D-175 lead product candidate for geographic atrophy (GA).
Closed upsized public offering of common stock including full exercise of underwriters’ option to purchase additional shares with total net proceeds of approximately $129 million.
Forward Guidance
4D Molecular Therapeutics expects several milestones, including completion of enrollment for the 4D-150 Phase 2 PRISM trial in Q3 2023, initial interim data for 4D-150 in wet AMD and DME in H1 2024, and an update on the 4D-175 program in Q4 2023, and cash and cash equivalents, inclusive of net proceeds from the May 2023 offering, to be sufficient to fund operations into the first half of half of 2026.
Positive Outlook
- Enrollment of the Phase 2 randomized Dose Expansion stage of the PRISM clinical trial expected to complete in Q3 2023
- Initial interim 4D-150 for wet AMD Phase 2 data expected in H1 2024
- Enrollment of the Phase 2 SPECTRA clinical trial for DME expected to begin in Q3 2023
- Initial interim 4D-150 for DME Phase 2 data expected in H1 2024
- Program update expected in Q4 2023
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