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Sep 30, 2021
4DMT Q3 2021 Earnings Report
Announced financial results and provided operational highlights.
Key Takeaways
4D Molecular Therapeutics reported Q3 2021 financial results, including total revenue of $1.4 million and a net loss of $22.2 million. The company highlighted clinical data updates on three programs and the clearance of IND applications for two product candidates. A public offering of common stock resulted in net proceeds of approximately $111 million, strengthening the balance sheet.
Provided clinical data updates on 3 programs, including first-ever clinical activity data from two 4DMT targeted and evolved vectors: C102 for systemic low dose cardiovascular delivery and R100 for routine intravitreal delivery.
Announced the pricing of a public offering of common stock with expected total gross proceeds of approximately $119 million.
Received clearance from the U.S. Food and Drug Administration (FDA) for the 4DMT Investigational New Drug (IND) Applications for the Phase 1/2 clinical trials of 4D-150 for wet age-related macular degeneration (wet AMD) and of 4D-710 for cystic fibrosis.
Received clearance from the Taiwan Food and Drug Administration for the 4DMT Investigational New Drug (IND) Application for the Pacific Rim Phase 1/2 clinical trial of 4D-310 for Fabry disease.
Revenue by Segment
Forward Guidance
4DMT expects to have five product candidates in clinical development in three different therapeutic areas in 2022 and expects cash and cash equivalents, inclusive of net proceeds from the offering, to be sufficient to fund operations into the second half of 2024.
Positive Outlook
- Interim clinical data from the Phase 1/2 clinical trial of 4D-310 in Fabry disease expected in 2022
- First patient dosing in the 4D-150 Phase 1/2 clinical trial for wet AMD expected in the first quarter of 2022
- First patient dosing in the 4D-710 Phase 1/2 clinical trial for cystic fibrosis expected in the first half of 2022
- Continued enrollment in both the 4D-125 for x-linked retinitis pigmentosa and 4D-110 for choroideremia Phase 1/2 clinical trials
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