4D Molecular Therapeutics, Inc.
Business
4D Molecular Therapeutics, Inc. is a late-stage biotechnology company developing genetic medicines using proprietary adeno-associated virus vectors derived from its Therapeutic Vector Evolution platform. The company offers clinical-stage product candidates for retinal diseases (4D-150 for wet AMD and DME, 4D-175 for geographic atrophy) and pulmonary diseases (4D-710 for cystic fibrosis, 4D-725 for alpha-1 antitrypsin deficiency). 4D-150 and 4D-710 are in Phase 3 and Phase 2 development respectively, with operations spanning North America, Europe, and the Asia-Pacific region through partnerships including Otsuka Pharmaceutical and the Cystic Fibrosis Foundation.
Summary from 10-K filed 2026-03-18
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Collaboration and license revenue | 85 | 37,000 | 21 | 3 | 18 | |
| Research and development (includes $1,322 and $1,005 for the years ended December 31, 2025 and 2024, respectively, attributable to related parties) | 196 | 141 | 97 | 80 | 61 | |
| General and administrative | 49 | 47 | 36 | 33 | 28 | |
| Total operating expenses | 245 | 188 | 134 | 113 | 89 | |
| Loss from operations | −160 | −188 | −113 | −110 | −71 | |
| Interest income | 19 | 27 | 12 | 3 | 137,000 | |
| Other expense, net | −37,000 | −77,000 | −181,000 | −35,000 | −121,000 | |
| Total other income, net | 19 | 27 | 12 | 3 | 16,000 | |
| Net loss | −140 | −161 | −101 | −107 | −71 | |
| Net loss per share, basic | −2.42 | −2.98 | −2.58 | −3.32 | −2.57 | |
| Net loss per share, diluted | −2.42 | −2.98 | −2.58 | −3.32 | −2.57 | |
| Weighted-average shares outstanding used in computing net loss per share, basic | 58 | 54 | 39 | 32 | 28 | |
| Weighted-average shares outstanding used in computing net loss per share, diluted | 58 | 54 | 39 | 32 | 28 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 60 | 149 | 249 | 52 | 153 | |
| Marketable securities | 342 | 276 | 39 | 161 | 95 | |
| Prepaid expenses and other current assets | 10 | 10 | 8 | 7 | 8 | |
| Total current assets | 413 | 435 | 297 | 221 | 256 | |
| Marketable securities, long-term | 111 | 81 | 11 | 5 | 68 | |
| Property and equipment, net | 15 | 20 | 20 | 22 | 14 | |
| Operating lease right-of-use assets, net | 18 | 21 | 12 | 13 | 15 | |
| Other assets | 9 | 4 | 684,000 | 1 | 602,000 | |
| Total assets | 567 | 560 | 340 | 262 | 353 | |
| Accounts payable | 11 | 4 | 4 | 3 | 5 | |
| Accrued and other current liabilities | 27 | 19 | 12 | 9 | 8 | |
| Deferred revenue | 360,000 | 257,000 | 273,000 | 884,000 | 3 | |
| Operating lease liabilities, current portion | 6 | 6 | 3 | 3 | 1 | |
| Total current liabilities | 44 | 29 | 19 | 16 | 16 | |
| Deferred revenue, net of current portion | 745,000 | 1 | 972,000 | 1 | 2 | |
| Derivative liability | 358,000 | 410,000 | 369,000 | 212,000 | 214,000 | |
| Operating lease liabilities, long-term portion | 16 | 19 | 12 | 13 | 15 | |
| Other liabilities | 138,000 | 193,000 | 248,000 | 21,000 | 120,000 | |
| Total liabilities | 61 | 50 | 32 | 31 | 34 | |
| Commitments and contingencies (Note 8) | — | — | — | — | — | |
| Preferred stock, $0.0001 par value, 10,000,000 shares authorized at December 31, 2025 and 2024; no shares issued and outstanding at December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.0001 par value, 300,000,000 shares authorized at December 31, 2025 and 2024; 57,607,874 and 45,793,942 shares issued and outstanding at December 31, 2025 and 2024, respectively | 6,000 | 5,000 | 4,000 | 3,000 | 3,000 | |
| Additional paid-in-capital | 1,221 | 1,087 | 723 | 547 | 527 | |
| Accumulated other comprehensive gain | 727,000 | 229,000 | 16,000 | −1 | −423,000 | |
| Accumulated deficit | −716 | −576 | −415 | −314 | −207 | |
| Total stockholders' equity | 506 | 511 | 308 | 231 | 319 | |
| Total liabilities and stockholders' equity | 567 | 560 | 340 | 262 | 353 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net loss | −140 | −161 | −101 | −107 | −71 | |
| Stock-based compensation expense | 22 | 26 | 20 | 17 | 14 | |
| Vesting of common stock warrants in return for services | 0 | 66,000 | 88,000 | 87,000 | 87,000 | |
| Change in fair value of derivative liability | −52,000 | 41,000 | 157,000 | −2,000 | 92,000 | |
| Depreciation and amortization | 5 | 5 | 4 | 2 | 2 | |
| Amortization of right-of-use assets | 3 | 2 | 2 | 1 | 1 | |
| Net accretion of discount on marketable securities | −5 | −7 | −1 | 1 | 719,000 | |
| Prepaid expenses and other current assets | −424,000 | −2 | −1 | 1 | −4 | |
| Other assets | −5 | −4 | −70,000 | −11,000 | 0 | |
| Accounts payable | 7 | 871,000 | 896,000 | −2 | 2 | |
| Accrued and other liabilities | 8 | 7 | 3 | 2 | 689,000 | |
| Deferred revenue | −209,000 | 69,000 | −715,000 | −3 | −15 | |
| Operating lease liabilities | −3 | −2 | −1 | −324,000 | −1 | |
| Net cash used in operating activities | −109 | −135 | −76 | −87 | −69 | |
| Purchase of marketable securities | −443 | −468 | −55 | −153 | −169 | |
| Maturities of marketable securities | 350 | 169 | 173 | 148 | 5 | |
| Acquisition of property and equipment | −536,000 | −4 | −3 | −12 | −9 | |
| Net cash used in investing activities | −93 | −302 | 116 | −17 | −173 | |
| Issuance of common stock upon exercise of stock options and vesting of RSUs | 984,000 | 5 | — | — | — | |
| Issuance of common stock - 2020 ESPP | 1 | 1 | 1 | 823,000 | — | |
| Issuance of common stock under stock purchase agreement | 8 | 0 | — | — | — | |
| Net cash provided by financing activities | 113 | 337 | 157 | 3 | 118 | |
| Net decrease in cash and cash equivalents | −89 | −100 | 197 | −101 | −124 | |
| Unpaid stock issuance costs in accrued and other liabilities | 307,000 | 0 | — | — | — | |
| Purchases of property and equipment in accounts payable and accrued and other liabilities | 0 | 509,000 | 234,000 | 937,000 | 2 | |
| Right-of-use assets obtained in exchange for lease obligations | 0 | 12 | — | 0 | −478,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is 4D Molecular Therapeutics, Inc.'s CIK number?
4D Molecular Therapeutics, Inc.'s SEC CIK number is 0001650648 (1650648). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find 4D Molecular Therapeutics, Inc.'s SEC filings?
All of 4D Molecular Therapeutics, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did 4D Molecular Therapeutics, Inc. last report earnings?
4D Molecular Therapeutics, Inc. (FDMT) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-211904). This is 4D Molecular Therapeutics, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is 4D Molecular Therapeutics, Inc.'s most recent earnings 8-K?
4D Molecular Therapeutics, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001193125-26-211904. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View 4D Molecular Therapeutics, Inc.'s latest earnings 8-K →
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