4D Molecular Therapeutics Inc · Q1 2021 earnings

Briefing

Reported financial results for the first quarter of 2021 and provided operational highlights.

4D Molecular Therapeutics reported a revenue of $2.0 million and a net loss of $16.4 million for the quarter ended March 31, 2021. The company's cash and cash equivalents were $259.9 million as of March 31, 2021, expected to fund operations into mid-2023.

• Presented preclinical data from non-human primate (NHP) studies at the American Society for Gene and Cell Therapy (ASGCT) 24th Annual Meeting, describing the design of 4D-150 for wet AMD and DME.
• Entered into a collaboration focused on applying machine learning technology to the AAV vector capsid datasets generated from 4DMT’s Therapeutic Vector Evolution platform.
• Initial clinical data from the Phase 1/2 clinical trial of 4D-310 in Fabry disease expected in the second half of 2021.
• Initial clinical data from the Phase 1/2 clinical trial of 4D-125 in X-Linked Retinitis Pigmentosa (XLRP) expected in the second half of 2021.

Headline financials

Revenue & EPS history

The company is on track to announce initial clinical data from both our 4D-310 Fabry disease product candidate and our 4D-125 XLRP product candidate in the second half of this year. In addition, we remain on track to initiate clinical trials in the second half of this year for 4D-150, our wet AMD and DME product candidate, and for 4D-710, our cystic fibrosis lung disease product candidate.