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Companies / Healthcare / 4D Molecular Therapeutics, Inc.
FDMT

4D Molecular Therapeutics, Inc.

HealthcareBiological Products
Ticker FDMTEMERYVILLE, CAFiscal year ends DecemberBook value per share $5.89Diluted shares 69.2M

4D Molecular Therapeutics, Inc. (NASDAQ: FDMT) is a late-stage biotechnology company developing durable and disease-targeted genetic medicines based on customized adeno-associated virus vectors. The company's proprietary Therapeutic Vector Evolution platform applies directed evolution principles to invent targeted AAV… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$85.21M
+230194.6% year over year
Last 12 mo $92.01M
-187.24%
+507491.1 percentage points
Last 12 mo -214.24%
$-140.11M
+12.9% year over year
Last 12 mo $-179.18M
-27.71%
+3.8 percentage points
Last 12 mo -43.95%
Cash & financing
$-109.08M
+18.9% year over year
Last 12 mo $-156.07M
$-109.62M
+20.8% year over year
Last 12 mo $-156.18M
—
Last 12 mo 0.05
57.9M
+7.4% year over year
Last 12 mo 69.2M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What 4D Molecular Therapeutics, Inc. does

In the company’s own words

4D Molecular Therapeutics, Inc. (NASDAQ: FDMT) is a late-stage biotechnology company developing durable and disease-targeted genetic medicines based on customized adeno-associated virus vectors. The company's proprietary Therapeutic Vector Evolution platform applies directed evolution principles to invent targeted AAV vectors designed to overcome limitations of conventional genetic medicine approaches, including inflammation, toxicity, limited efficacy, and neutralization by pre-existing antibodies.

The company operates across two primary therapeutic areas: retina and pulmonology. In retina, 4D Molecular's lead product candidate 4D-150 combines a proprietary R100 vector with a dual transgene payload expressing aflibercept and VEGF-C RNA interference for treatment of wet age-related macular degeneration and diabetic macular edema. The product is currently in Phase 3 clinical development through the 4FRONT global registration program, with interim data from Phase 1/2 trials demonstrating consistent and durable benefit, significant treatment burden reduction, and favorable tolerability profiles. The company has received Regenerative Medicine Advanced Therapy designation from the FDA and PRIME designation from the European Medicines Agency for 4D-150 in wet AMD.

In pulmonology, 4D Molecular is developing 4D-710 for cystic fibrosis lung disease, which the company believes is the first genetic medicine to demonstrate successful delivery and durable expression of the CFTR transgene in human lungs. The program is in Phase 2 development through the AEROW clinical trial, conducted in collaboration with the Cystic Fibrosis Foundation. The company also has 4D-725 in preclinical development for alpha-1 antitrypsin deficiency lung disease.

4D Molecular maintains in-house manufacturing capabilities at its Emeryville, California headquarters, including process development laboratories, analytical facilities, quality control operations, and a cGMP manufacturing facility operating at commercial scale. The company has internally manufactured over 300 unique AAV vectors and completed 28 lots of clinical trial material for six product candidates. The company's patent portfolio includes eighteen granted U.S. patents and 135 granted foreign patents, with additional pending applications expected to provide patent protection through 2045. More information is available at www.4dmoleculartherapeutics.com.

Company details
Sector
Healthcare
Industry
Biological Products
Headquarters
EMERYVILLE, CA
Fiscal year end
December
CIK
1650648
SIC
2836

Financial performance, year by year

Fiscal 2020–2025 · USD
$-206.29M$-124.94M$-43.58M$37.77M$119.13M202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns 4D Molecular Therapeutics, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

170
funds hold it
0 of 35
superinvestors hold it
$165.68M
held by funds, at market
24.8%
of shares held by funds

Largest fund holders · 4D Molecular Therapeutics, Inc.’s weight in each

0.20%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.02%of fund net assets
Janus Henderson Global Life Sciences Fund
JAGLX · Janus Investment Fund
0.18%of fund net assets
T. Rowe Price Small-Cap Stock Fund, Inc.
OTCFX · T. ROWE PRICE SMALL-CAP STOCK FUND, INC.
0.10%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

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