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4D Molecular Therapeutics Reports Second Quarter 2023 Financial Results and Operational Highlights
Presented positive interim data from intravitreal 4D-150 Phase 1/2 PRISM clinical trial for patients with wet age-related macular degeneration (wet
About this update from 4d Molecular Therapeutics, Inc.
[{"type":"text","content":"Presented positive interim data from intravitreal 4D-150 Phase 1/2 PRISM clinical trial for patients with wet age-related macular degeneration (wet AMD)Completed target enrollment of 50 patients in the randomized Phase 2 Dose Expansion stage of the PRISM clinical trial in July, nearly two quarters ahead of initially projected enrollment completionPresented positive interim data from aerosolized 4D-710 Phase 1/2 AEROW clinical trial for patients with cystic fibrosis lung diseaseAnticipate multiple clinical data and regulatory interaction updates on lead clinical-stage product candidates 4D-150 in wet AMD and 4D-710 in cystic fibrosis lung disease over the next 12 monthsEntered license agreement with Astellas Pharma in July and received $20 million upfront with potential future milestones of up to $942.5 million, including potential near-term development milestones of $15 million for the initial targetStrong balance sheet, closing the quarter with $310 million in cash, cash equivalents, and marketable securities, which includes net proceeds from upsized public offering of $138 million in common stock in May, expected to be sufficient to fund operations into the first half of 2026 EMERYVILLE, Calif., Aug. 09, 2023 (GLOBE NEWSWIRE) -- 4D Molecular Therapeutics (Nasdaq: FDMT, 4DMT, or the Company) a clinical-stage biotherapeutics company harnessing the power of directed evolution for genetic medicines targeting large market diseases, today reported second quarter 2023 financial results and provided operational highlights. “We are excited by the significant progress we have made across our large market product candidate portfolio in the second quarter,” said David Kirn, M.D., Co-founder and Chief Executive Officer of 4DMT. “In ophthalmology, we presented positive interim clinical data from the Dose Exploration stage of our Phase 1/2 PRISM clinical trial of 4D-150, which demonstrated excellent tolerability, clinical activity and initial long term durability in high anti-VEGF need patients that we believe support an emerging best-in-class profile. In pulmonology, we presented positive interim clinical data from cohort 1 from the 4D-710 Phase 1/2 AEROW clinical trial for the treatment of cystic fibrosis lung disease, demonstrating widespread and high-level CFTR transgene expression and initial clinical activity in a population who otherw...