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FDMT4D Molecular Therapeutics, Inc.
$12.82$670M
Overview & Verdict
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FDMT logo4D Molecular Therapeutics, Inc.(FDMT)Earnings, Financials & Key Ratios

FDMT•NASDAQ
$12.82
Price updated Jul 7, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryCell and Gene Therapy Developers
About4D Molecular Therapeutics, Inc., a clinical-stage gene therapy company, develops product candidates using its adeno-associated viruses vectors. It develops a portfolio of gene therapy product candidates focuses in three therapeutic areas: ophthalmology, cardiology, and pulmonology. The company has three product candidates that are in clinical trials: 4D-125 that is in a Phase 1/2 clinical trial for the treatment of X-linked retinitis pigmentosa; 4D-110 that is in a Phase 1/2 clinical trial for the treatment of choroideremia; and 4D-310, which is in a Phase 1/2 clinical trial for the treatment of Fabry disease. Its two IND candidates are 4D-150 for the treatment of wet age-related macular degeneration and 4D-710 for the treatment of cystic fibrosis lung disease. 4D Molecular Therapeutics, Inc. has research and collaboration arrangements with uniQure; CRF; Roche; and CFF. The company was founded in 2013 and is headquartered in Emeryville, California.4D Molecular Therapeutics, Inc., a clinical-stage gene therapy company, develops product candidates using its adeno-associated viruses vectors. It develops a portfolio of gene therapy product candidates focuses in three therapeutic areas: ophthalmology, cardiology, and pulmonology. The company has three product candidates that are in clinical trials: 4D-125 that is in a Phase 1/2 clinical trial for the treatment of X-linked retinitis pigmentosa; 4D-110 that is in a Phase 1/2 clinical trial for the treatment of choroideremia; and 4D-310, which is in a Phase 1/2 clinical trial for the treatment of Fabry disease. Its two IND candidates are 4D-150 for the treatment of wet age-related macular degeneration and 4D-710 for the treatment of cystic fibrosis lung disease. 4D Molecular Therapeutics, Inc. has research and collaboration arrangements with uniQure; CRF; Roche; and CFF. The company was founded in 2013 and is headquartered in Emeryville, California.Show more
  • Revenue$85M+230194.6%
  • EBITDA-$152M+16.1%
  • Net Income-$140M+12.9%
  • EPS (Diluted)-2.42+18.8%
  • Gross Margin91.05%-8.9%
  • EBITDA Margin-178.29%+100.0%
  • Operating Margin-187.24%+100.0%
  • Net Margin-164.43%+100.0%
  • ROE-27.57%+29.9%

FDMT Price & Volume

4D Molecular Therapeutics, Inc. (FDMT) stock price & volume — 10-year historical chart

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Clinical Milestone Dependence Masks Structural Liquidity Risks

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Binary clinical milestone dependence

Key Thesis Takeaways

  • 4D Molecular Therapeutics remains a high-risk, clinical-stage biotechnology firm whose financial performance is entirely tethered to volatile, non-recurring milestone payments rather than a sustainable commercial revenue model.
  • While the company maintains a low debt-to-equity ratio of 0.05, the rapid depletion of its cash reserves from $275.6 million in 2024Q1 to $72.5 million in 2026Q1 creates a precarious outlook for long-term solvency.
  • Investors should monitor the firm's ability to secure further partnership capital, as the current $65.0 million quarterly R&D burn rate significantly outpaces its ability to generate consistent operational cash flow.

Verdict Logic

the company's rapid cash burn, which reduced liquidity to $72.5 million in 2026Q1, suggests a high probability of future equity dilution to fund ongoing clinical operations.

FDMT Growth Metrics

4D Molecular Therapeutics, Inc. (FDMT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years44.32%
3 Years200.86%
TTM383560.87%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM8.81%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM16.35%

Return on Capital

10 Years-39.81%
5 Years-35.07%
3 Years-38.06%
Last Year-30.28%

FDMT Recent Earnings

4D Molecular Therapeutics, Inc. (FDMT) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
May 7, 2026
Metric
Actual
Est
EPS
$1.01-4.1%
$0.97
Rev
$3M+17.8%
$3M
Q2 2026
Mar 18, 2026
Metric
Actual
Est
EPS
$0.43+181.1%
$0.53
Rev
$85M+215.2%
$27M
Q4 2025
Nov 10, 2025
Metric
Actual
Est
EPS
$1.01+1.0%
$1.02
Rev
$90,000-99.7%
$31M
Q3 2025
Aug 11, 2025
Metric
Actual
Est
EPS
$0.98-11.4%
$0.88
Rev
$15,000+221.2%
$4,670
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 7, 2026
$1.01vs $0.97-4.1%
$3Mvs $3M+17.8%
Q2 2026Mar 18, 2026
$0.43vs $0.53+181.1%
$85Mvs $27M+215.2%
Q4 2025Nov 10, 2025
$1.01vs $1.02+1.0%
$90,000vs $31M-99.7%
Q3 2025Aug 11, 2025
$0.98vs $0.88-11.4%
$15,000vs $4,670+221.2%
Based on last 12 quarters of dataView full earnings history →

Latest FDMT News

Recent stock market news and headlines for 4D Molecular Therapeutics, Inc. (FDMT)

GlobeNewsWire·Jun 30, 2026
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.

GlobeNewsWire·Jun 29, 2026
4DMT Completes Enrollment for 4FRONT-2 Global Phase 3 Clinical Trial of 4D-150 in Wet AMD

EMERYVILLE, Calif., June 29, 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 enrollment completion for 4FRONT-2, the second Phase 3 clinical trial in our global program, evaluating 4D-150 in patients with wet age-related macular degeneration (wet AMD).

GlobeNewsWire·Jun 29, 2026
4DMT Secures Strategic Credit Facility for up to $200 Million from Hercules Capital

EMERYVILLE, Calif., June 29, 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 it has entered into a strategic credit facility agreement with Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”) for up to $200 million.

Zacks Investment Research·Jun 23, 2026
Strength Seen in 4D Molecular Therapeutics (FDMT): Can Its 7.9% Jump Turn into More Strength?

4D Molecular Therapeutics (FDMT) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Peers Comparison

Key metrics vs top competitors for 4D Molecular Therapeutics, Inc. (FDMT)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
FDMT logoFDMT4D Molecular Therapeutics, Inc.Current
$12.82$670.16M-5.30230194.59%-164.43%-27.57%—
OCGN logoOCGNOcugen, Inc.
$1.50$507.78M-6.528.83%-1605.22%-127987.5%—
KRYS logoKRYSKrystal Biotech, Inc.
$368.60$10.87B53.8933.94%53.92%19.25%—
RCKT logoRCKTRocket Pharmaceuticals, Inc.
$4.07$444.42M-2.02——-70.79%—
QURE logoQUREuniQure N.V.
$41.41$2.59B-11.97-40.64%-1154.42%-145.81%—
EDIT logoEDITEditas Medicine, Inc.
$3.75$367.15M-2.0825.39%-281.59%-677.39%—

Compare FDMT vs Peers

4D Molecular Therapeutics, Inc. (FDMT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs OCGN

Most directly comparable listed peer for FDMT.

Scale Benchmark

vs REGN

Larger-name benchmark to compare FDMT against a more recognizable public peer.

Peer Set

Compare Top 5

vs OCGN, KRYS, RCKT, QURE

FDMT SEC Filings & Documents

4D Molecular Therapeutics, Inc. (FDMT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 7, 2026·SEC

Material company update

Mar 30, 2026·SEC

Material company update

Mar 18, 2026·SEC

10-K Annual Reports

3
FY 2026

Mar 18, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 29, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 7, 2026·SEC

FY 2025

Nov 10, 2025·SEC

FY 2025

Aug 11, 2025·SEC

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FDMT Frequently Asked Questions

4D Molecular Therapeutics, Inc. (FDMT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is 4D Molecular Therapeutics, Inc.'s revenue?

4D Molecular Therapeutics, Inc. (FDMT) reported $88.2M in revenue for fiscal year 2025. This represents a 1424% increase from $5.8M in 2017.

How fast is 4D Molecular Therapeutics, Inc. growing?

4D Molecular Therapeutics, Inc. (FDMT) grew revenue by 230194.6% over the past year. This is strong growth.

Is FDMT profitable?

4D Molecular Therapeutics, Inc. (FDMT) reported a net loss of $160.9M for fiscal year 2025.

Dividend & Returns
What is FDMT's return on equity?

4D Molecular Therapeutics, Inc. (FDMT) has a return on equity (ROE) of -27.6%. Negative ROE indicates the company is unprofitable.

What is 4D Molecular Therapeutics, Inc.'s free cash flow?

4D Molecular Therapeutics, Inc. (FDMT) had negative free cash flow of $130.1M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in FDMT back in 2017?

Total return calculator · dividends reinvested · 9+ years of data

See returns →