4D Molecular Therapeutics, Inc.

FDMT

$14.89

+1.26%

2026-09-04 12:45:23 EDT+$0.19

Healthcare

Biotechnology

NASDAQ

Active Trading

4D Molecular Therapeutics, Inc. is a clinical-stage gene therapy company that engineers therapeutic agents by leveraging its proprietary adeno-associated virus (AAV) vector ...

Price Action of FDMT

$14.89

+1.26%+$0.19

High—

Low—

52W High-12.0%

Rel. vol—

Interval

Range3.3h

Volume—SMA5SMA10

—

4D Molecular Therapeutics, Inc. (4DMT) is a clinical-stage gene therapy company based in Emeryville, California, founded in 2013 by David Kirn. The company leverages its proprietary adeno-associated virus (AAV) vector technology to engineer therapeutic agents for a range of serious medical conditions. Its development efforts are concentrated in three therapeutic ...4D Molecular Therapeutics, Inc. (4DMT) is a clinical-stage gene therapy company based in Emeryville, California, founded in 2013 by David Kirn. The company leverages its proprietary adeno-associated virus (AAV) vector technology to engineer therapeutic agents for a range of serious medical conditions. Its development efforts are concentrated in three therapeutic areas: ophthalmology, cardiology, and pulmonology. In its active pipeline, three product candidates are in Phase 1/2 clinical trials: 4D-125 for X-linked retinitis pigmentosa, 4D-110 for choroideremia, and 4D-310 for Fabry disease. Additionally, two Investigational New Drug (IND) candidates are in development: 4D-150 for wet age-related macular degeneration and 4D-710 for cystic fibrosis lung disease. 4DMT engages in research and development partnerships with entities such as uniQure, CRF, Roche, and CFF. As of the latest data, the company has 196 full-time employees and is publicly traded on NASDAQ under the symbol FDMT. Financially, 4DMT has a market capitalization of approximately $561.97 million and has not yet generated significant revenue, with an enterprise value of $510.02 million. The company's research and development expenses are substantial, reflecting its focus on advancing its pipeline. It holds a strong balance sheet with $361.96 million in working capital and a current ratio of 9.339, indicating ample liquidity. However, it is not yet profitable, with negative margins and returns on assets and equity. The company's leadership is headed by CEO David H. Kirn, who also serves as president and co-founder. 4DMT is committed to unlocking the full potential of genetic medicine to cure diseases and improve patient lives.ExpandCollapse

Founded

2013

Employees

196

CEO

David H. Kirn

Full Name

4D Molecular Therapeutics, Inc.

Sector

Healthcare

Industry

Biotechnology

ROE

-41.33%

Market Cap

$0.82B

Current Ratio

8.03

WACC

16.91%

ROIC

-52.74%

Contact Information

https://www.4dmoleculartherapeutics.com

510 505 2680

5858 Horton Street, EmeryVille, CA 94608

Key Metrics of FDMT

Snapshot

Latest / TTM · 6 periods

Market Cap

$822.31M

ROCE

-44.3%

EV / EBITDA

-4.04x

-13.8% YoY

FCF Yield

-20.2%

+5.0% YoY

Cash Conversion Cycle

-67.4d

Current Ratio

8.03

Quick take

TTM —

No major risk flags in selected headline metrics.

Financial Highlights of FDMT

Profitability trend

Latest / TTM · 6 periods

Gross Margin

42.0%

Net Margin

-194.7%

P/E Ratio

-5.47x

n/a

Debt / Equity

0.10

n/a

Current Ratio

8.03

Dividend Yield

0.0%

Understanding

TTM —

Interest coverage is weak

Calendar of FDMT

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $-1.05 · Revenue $3.46M · 7 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $-1.04 · Revenue $4.33M · 6 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $-4.14 · Revenue $12.97M · 6 analysts
Mar 30, 2027
Q1 FY2027 · Estimated results
Est. EPS $-1.06 · Revenue $4.00M · 2 analysts

Recent history

Aug 13, 2026
Q2 FY2026 · Results reported
EPS $-1.04 · Revenue $3.78M
View filing
May 7, 2026
Q1 FY2026 · Results reported
EPS $-1.01 · Revenue $3.05M
View filing
Mar 18, 2026
FY2025 · Annual results
EPS $-2.42 · Revenue $85.21M
View filing
Nov 10, 2025
Q3 FY2025 · Results reported
EPS $-1.01 · Revenue $90000.00
View filing
Aug 11, 2025
Q2 FY2025 · Results reported
EPS $-0.98 · Revenue $15000.00
View filing
Mar 31, 2025
Q1 FY2025 · Results reported
EPS $-0.86 · Revenue $14000.00

Financial Statements of FDMT

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$85.2M	+230194.6%	+24.1%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$-140.1M	+12.9%	-6.1%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+91.1%	+100.0%	+37.5%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	-187.2%	+100.0%	+15.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	-164.4%	+100.0%	+14.5%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$-109.1M	+21.2%	-2.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	-128.0%	+100.0%	+17.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	4.2%	-12.1%	+111.7%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	9.39x	-37.1%	-14.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$566.7M	+1.1%	-4.0%

Actual vs Estimate

A Dec 31Q Jun 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	-2.42 vs -3.26	+25.7%	-1.04 vs -1.02	-2.3%
Revenue Surprise	$85.2M vs $33.5M	+154.1%	$3.8M vs $3.6M	+4.4%

Insider Transactions of FDMT

Acquisitions (A)

Since Aug 17, 2026

Disposals (D)

Since Aug 17, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Sep 1, 2026	Bizily Scott	officer: Chief Legal Officer	Common Stock	A	584	$6.49
Sep 1, 2026	Bizily Scott	officer: Chief Legal Officer	Common Stock	D	584	$14.00
Sep 1, 2026	Bizily Scott	officer: Chief Legal Officer	Stock Option (Right to Buy)	D	584	$6.49
Aug 19, 2026	Kirn David	director, officer: See Remarks	Common Stock	A	50,000	$4.14
Aug 19, 2026	Kirn David	director, officer: See Remarks	Common Stock	D	43,149	$15.36

Leadership Team of FDMT

11 executives

Name	Title	Compensation	Gender	Year Born	Status
David H. Kirn	Co-Founder, President, CEO & Director	USD 1,228,593	—	1962	Active
Fariborz Kamal	Chief Technical Advisor	USD 892,868	—	1963	Active
Theresa Janke	Co-Founder & Chief of Staff	USD 652,315	Female	1975	Active
Noriyuki Kasahara	Chief Scientific Advisor	USD 201,288	—	1963	Active
John F. Milligan	Executive Chairman	USD 150,000	—	1961	Active
Kristian Humer	CFO and Principal Financial & Accounting Officer	USD 116,247	Male	1976	Active
Alan H. Cohen FAAAAI FAAP FACAAI FCCP	Senior Vice President & Therapeutic Area Head of Pulmonology	—	—	1961	Active
An Song	Chief Translational Medicine Advisor	—	—	—	Active
Scott Bizily	Chief Legal Officer & Corporate Secretary	—	—	1972	Active
Julian Pei	Head of Investor Relations & Corporate Finance	—	—	—	Active
Katy Barglow	Chief Technical Officer	—	—	—	Active

Recent News of FDMT

Schaeffers Research7/29/2026Neutral

10 Stock Picks to Celebrate 45 Years of Schaeffer's

Subscribers to Chart of the Week received this commentary on Sunday, July 26.

Seeking Alpha7/20/2026Neutral

4D Molecular: 'Buy' Wet-AMD Study Readouts 2027 And DME Expansion Opportunity

4D Molecular Therapeutics, Inc. maintains a Buy rating, driven by advancing 4D-150 gene therapy for Wet-AMD and DME into late-stage pivotal trials. FDMT's 4D-150 demonstrated up to 89% reduction in injection burden and maintained visual acuity over two years, with phase 3 topline data expected in 2027. Strong financial position with $458M cash and milestone payments, supporting operations into 2H 2028 and minimizing near-term dilution risk.

GlobeNewsWire7/18/2026Neutral

4DMT Announces Positive 2-Year Data from PRISM Phase 2b Clinical Trial in a Broad Wet AMD Population

EMERYVILLE, Calif., July 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 announced positive 2-year data from the PRISM Phase 2b clinical trial evaluating 4D-150 in a broad wet age-related macular degeneration (wet AMD) population. The data were presented by Carl Awh, M.D., FASRS, Tennessee Retina, in an oral presentation titled “2-Year Follow Up: PRISM Phase 2b Clinical Trial Evaluating Investigational 4D-150, an Intravitreal Gene Therapy, in a Broad Neovascular AMD Population” at the 44th Annual Scientific Meeting of the American Society of Retina Specialists (ASRS).

GlobeNewsWire7/17/2026Neutral

4DMT Announces New Employment Inducement Grants

EMERYVILLE, Calif., July 17, 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 announced that on July 14, 2026, the compensation committee of the Company's board of directors granted six new non-executive employees 37,900 Restricted Stock Units (RSUs). The RSUs were granted pursuant to the Company's 2025 Employment Inducement Award Plan, as amended, under Rule 5635(c)(4) of The Nasdaq Global Market for equity grants to induce new employees to enter into employment with the Company.

GlobeNewsWire6/30/2026Neutral

4DMT Announces Presentation at 44th Annual Scientific Meeting of the American Society of Retina Specialists

EMERYVILLE, Calif., June 30, 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 announced a podium presentation at the 44th Annual Scientific Meeting of the American Society of Retina Specialists (ASRS) being held in Montreal, Canada, from July 15 - 18, 2026.

Historical Employee Count of FDMT

Current

196

Change

-13.66%

Minimum

124

Maximum

227

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	196	10-K	Mar 18, 2026	View
Dec 31, 2024	227	10-K	Feb 28, 2025	View
Dec 31, 2023	147	10-K	Feb 29, 2024	View
Dec 31, 2022	140	10-K	Mar 15, 2023	View
Dec 31, 2021	124	10-K	Mar 28, 2022	View

Related stocksBiotechnology

Browse all US stocks →

About UsPrivacy PolicyTerms of ServiceDisclaimerStock DirectoryETFsIndices13F HoldingsAnalyst TargetsFree ToolsTechnology MapJoin our Slack

Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer

4D Molecular Therapeutics, Inc.