4d Molecular Therapeutics, Inc. · NASDAQ:FDMT
4d Molecular Therapeutics — J.P. Morgan Healthcare Conference 2026
39 slides from 4d Molecular Therapeutics's conference presentation, January 2026
Slide 1: The New Backbone of Retina Care: Moving Beyond Lifelong Injections
The New Backbone of Retina Care: Moving Beyond Lifelong Injections Corporate Overview J.P. Morgan Healthcare Conference | January 2026 © 2026 4D Molecular © 2026 4DTherapeutics. Molecular Therapeutics. All Rights Reserved. All Rights Reserved.
Slide 2: Legal Disclaimer
Legal Disclaimer This Presentation contains forward looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this Presentation, including statements regarding our clinical development plans, strategy, future operatio
Slide 3: Overview
Overview 1 4DMT Vision & Pipeline 2 4D-150 Overview & 2025 Accomplishments 3 Retinal Vascular Disease Market & Unmet Medical Needs 4 Derisking Phase 3 & Commercialization 5 2026-27 Catalysts 6 Summary © 2026 4D Molecular Therapeutics. All Rights Reserved. 3
Slide 4: Redefining Genetic Medicines: Lead Product 4D-150
REDEFINING GENETIC MEDICINES: Durable & disease-targeted therapeutics for large market diseases Lead Product: 4D-150 © 2026 4D Molecular Therapeutics. All Rights Reserved. 4
Slide 5: Next Generation, Locally Delivered AAV Gene Therapy Pipeline
Next Generation, Locally Delivered AAV Gene Therapy Pipeline: Focused on Rapidly Advancing 4D-150 to Global Commercialization THERAPEUTIC AREA PRODUCT PRE- BLA VECTOR CANDIDATE INDICATION CLINICAL PHASE 1 PHASE 2 PIVOTAL FILING PARTNERS Wet AMD RETINA R100 4D-150 APAC Rights 4DMT: Intravitreal DME U
Slide 6: Goal: Transform standard of care for large market retinal vascular diseases
GOAL Transform standard of care for large market retinal vascular diseases with safe, in-office & 4D-150 durable lifelong backbone therapy © 2026 4D Molecular Therapeutics. All Rights Reserved. 6
Slide 7: 2025: Breakout Year for 4D-150
2025: Breakout Year for 4D-150 ✓ Continued Strong Phase 1/2 & 2b Results: ✓ Safety: Well-tolerated & no significant inflammation at Phase 3 dose ✓ Durability: Strong consistent clinical activity through 1.5 to 2 years ✓ Execution of Phase 3: Speed of 4FRONT-1 wet AMD enrollment exceeded expectations
Slide 8: 4FRONT-1 Enrollment Significantly Exceeding Initial Expectations
4FRONT-1 Enrollment Significantly Exceeding Initial Expectations in Treatment-Naïve Population Q1 2026 Expected Enrollment JAN 13, 2026 Completion N=400+ North America Randomized or Approved to be N=480 Randomized 100% Treatment naïve OCT 2025 N=200+ Randomized MAR 2025 1st Patients Screened © 2026
Slide 9: 4FRONT-2 Rapidly Executing & Enrolling Globally
4FRONT-2 Rapidly Executing & Enrolling Globally: U.S., EU & Japan Open H2 2026 Expected Enrollment Completion Global N=480 60% Treatment naïve JAN 2026 40% Previously treated* U.S., EU + APAC Sites open & screening rapidly Jun 2025 Trial initiation in U.S. sites *1-4 prior injections, diagnosed with
Slide 10: Industry-Leading Retina Leadership Team
Industry-Leading Retina Leadership Team Julie Clark, MD Dhaval Desai, PharmD Christopher Simms Chief Medical Officer Chief Development Officer Chief Commercial & Business Officer 20+ years 20+ years 25+ years Clinical Development, Regulatory Affairs, Late-stage Product Development, Pre-commercial &
Slide 11: Retinal Vascular Disease Market & Unmet Medical Needs
Retinal Vascular Disease Market & Unmet Medical Needs ©© 2026 2026 4D4D Molecular Molecular Therapeutics. Therapeutics. AllAll Rights Rights Reserved. Reserved. 11
Slide 12: 4D-150 Potential to be Highly Disruptive in a Rapidly Growing, $14B+ Market
4D-150 Potential to be Highly Disruptive in a Rapidly Growing, $14B+ Market $16B Global Branded Retinal Vascular Prevalence (2025) Disease Anti-VEGF Market (2025E) ▪ Wet AMD: Other (Inc. RVO, DR) ~$2B Wet AMD o ~5M prevalence in U.S., Europe, Japan ~$10B o ~300K new cases diagnosed annually DME ▪ Di
Slide 13: Typical Age of Wet AMD Patient and Vision Loss Impact
Typical Age of Wet AMD Patient: Vision Loss Impact: ~75 years Isolation, Loss of Autonomy, Uncertainty, Fear © 2026 4D Molecular Therapeutics. All Rights Reserved. 13
Slide 14: Current Standard of Care: Lifelong Repetitive Burdensome Anti-VEGF Eye Injections
Current Standard Of Care: Lifelong Repetitive Burdensome Anti-VEGF Eye Injections © 2026 4D Molecular Therapeutics. All Rights Reserved. 14
Slide 15: Lifelong Repetitive & Burdensome Bolus Anti-VEGF Injections Needed
Lifelong Repetitive & Burdensome Bolus Anti-VEGF Injections Needed to Slow Vision Loss: ~30 Injections over 5 Years LIFELONG Bolus Anti-VEGF Theoretical Optimally Treated1 Change in VA,ETDRS Letters Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 1. Holz FG, et al. British Journal of Ophthal 2015;99:220-226. More vis
Slide 16: Treatment Discontinuation is Extremely Common
Real World Data - Treatment Discontinuation is Extremely Common: Current Bolus Treatment Regimens are NOT Sustainable LIFELONG Bolus Anti-VEGF +3.0 Change in VA,ETDRS Letters +1.2 –0.4 –1.8 40% –3.1 DISCONTINUE –4.6 within 1 YEAR2 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 1. Wykoff et al.: Ophthalmol Sci. 2023
Slide 17: Inability to Maintain Burdensome Injection Regimen Leads to Unrelenting Vision Loss
Real World Data - Patients Remaining on Treatment: Inability to Maintain Burdensome Injection Regimen Leads to Unrelenting Vision Loss1 LIFELONG Bolus Anti-VEGF +3.0 Change in VA,ETDRS Letters +1.2 –0.4 –1.8 –3.1 –4.6 suboptimal dosing - permanent vision loss Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 1. Wykoff
Slide 18: Solving the Unmet Need: Provide Continuous Backbone Treatment
Solving the Unmet Need: Provide Continuous Backbone Treatment to Control Disease & Protect Vision Without Repetitive Lifelong Injections LIFELONG Bolus Anti-VEGF BACKBONE + Supplement as needed Anti-VEGF Change in VA,ETDRS Letters Continuous Backbone Therapy→ Vision Preserved Yr 1 Yr 2 Yr 3 Yr 4 Yr
Slide 19: Durability Remains the Priority for Retina Doctors & Patients
Durability Remains the Priority for Retina Doctors & Patients: Long-term Disease Control is Still the #1 Unmet Need ASRS Preferences and Trends (PAT) Survey 2025 Which factors are most important to you when selecting anti-VEGF agent? Sustained Efficacy 92.5% 94.8% ~95% 80.8% Low rate of Intraocular
Slide 20: Eylea & Vabysmo Had Rapid, Blockbuster Commercial Success
Despite Incremental Durability Improvements, Eylea & Vabysmo Had Rapid, Blockbuster Commercial Success Implied Treatment Burden Injection- Net Sales Reduction vs. free Year 3 Average Interval Predecessor Potential Post-Launch ~30 days1 $1.8B Real World2 ~44 days ~14 day ~30% 0% $3.3B increments ~57
Slide 21: Gene Therapy is the Most Exciting Pipeline Treatment
Gene Therapy (e.g. 4D-150) is the Most Exciting Pipeline Treatment: Highest Potential to Achieve True Continuous Disease Control ASRS Preferences and Trends (PAT) Survey 2025 Which pipeline treatment for wet AMD excites you most? Gene Therapy 44.0% 49.7% ~50% Tyrosine Kinase Inhibitors 18.3% 9.2% VE
Slide 22: 4D-150 Durability Profile would be Paradigm-Shifting
4D-150 Durability Profile would be Paradigm-Shifting Implied Treatment Burden Injection- Net Sales Reduction vs. free Year 3 Average Interval Predecessor Potential Post-Launch ~30 days1 $1.8B ~44 days Real World2 ~30% 0% $3.3B ~57 days ~25% $4.4B ~365+ Paradigm 4D-1503 days ~85% >50% Shifting Potent
Slide 23: Goal: Transform the standard of care for retinal vascular diseases
GOAL: To transform the standard of care for large market retinal vascular diseases with a safe, in-office & durable lifelong backbone therapy 1. Continuous disease control enabled by durable retinal expression of aflibercept 2. Accelerating global Phase 3 program for Wet AMD & DME 4D-150 3. Paradigm
Slide 24: 4D-150 is Designed as Backbone Therapy
4D-150 is Designed as Backbone Therapy to Provide Safe & Continuous Disease Control with Lifelong Anti-VEGF Expression Potential R100 Capsid Anti-VEGF Transgenes Capsid base Aflibercept VEGF-C RNAi Peptide insertions (VEGF Trap) ✓ Robust delivery to multiple retinal layers ✓ >64 million doses ✓ Enha
Slide 25: Wet AMD: Consistent & Predictable Safety Data To-date
Wet AMD: Consistent & Predictable Safety Data To-date Highest SUN/NEI Score† with 4D-150 Phase 3 Dose, 3E10 vg/eye (N=71) Through Week 28 Week 28 to Year 1 Year 1 to 1.5 Year 1.5 to 3.5+ None 1+ 2+ 2.8% (n=2‡) 3+ 4+ 100% 100% 100% 97.2% N=71 N=71 N=71 N=Variable Prophylactic corticosteroid 99% (70 o
Slide 26: DME: Consistent & Predictable Safety Data To-date
DME: Consistent & Predictable Safety Data To-date Highest SUN/NEI Score with 4D-150 Phase 3 Dose, 3E10 vg/eye (N=9) 0 (none) Through Week 60 1+ 2+ 3+ 4+ 100% 100% (9 of 9) completed on schedule Prophylactic corticosteroid (~16 weeks) and remain completely off NEI: National Eye Institute; SUN: Standa
Slide 27: Phase 1/2a 2-year Data Demonstrates Durable Disease Control
Phase 1/2a 2-year Data Demonstrates Durable Disease Control: Severe, Recalcitrant Wet AMD Population Treatment Burden* Reduction Post–4D-150 vs. Prior ▪ Visual acuity: stable & 20.4 equivalent to aflibercept control Projected: 10.2 –79% ▪ Retinal anatomy: stable with fewer fluctuations Prior Year 4.
Slide 28: Phase 2b 1.5-year Data Demonstrates Durable Disease Control
Phase 2b 1.5-year Data Demonstrates Durable Disease Control: Recently Diagnosed, Phase 3 Comparable Wet AMD Population Treatment Burden* Reduction Post–4D-150 ▪ Visual acuity: stable 9.0 ▪ Retinal anatomy: stable without fluctuations –92% ▪ Inflammation: no 0.7 meaningful signal 1.5 Years 1.5 Years
Slide 29: Phase 2b 1.5-year Data: 73% Injection-free
Phase 2b 1.5-year Data: 73% Injection-free in Phase 3 Comparable Wet AMD Population Phase 2b Subgroup 1.5-year Treatment Burden* Reduction Results: Recently Diagnosed (Phase 3-Comparable) 13% 9.0 >2 Inj. 7% 2 inj. Severe, Recalcitrant 7% 1 inj. 73% –92% Injection free 0.7 2-year Results 1.5 Years 1.
Slide 30: Phase 1/2 Data: 78% Treatment Burden Reduction in DME
Phase 1/2 Data Demonstrates Durable Disease Control: 78% Treatment Burden Reduction in DME Phase 1/2 60-week Treatment Burden* Reduction Results: Diabetic Macular Edema ▪ Visual acuity: stable 7.0 22% >2 Inj. ▪ Retinal anatomy: stable 44% Injection free‡ without fluctuations Severe, Recalcitrant 22%
Slide 31: Goal: Transform the standard of care for retinal vascular diseases
GOAL: To transform the standard of care for large market retinal vascular diseases with a safe, in-office & durable lifelong backbone therapy 1. Continuous disease control enabled by durable retinal expression of aflibercept 2. Global Phase 3 program for Wet AMD & DME 4D-150 © 2026 4D Molecular Ther
Slide 32: Wet AMD Global 4FRONT Phase 3 Program Overview
Wet AMD Global 4FRONT Phase 3 Program Overview: Derisking Strategy for Global Regulatory & Commercial Success ✓ Continued strong Phase 1/2 & 2b results in broad patient populations ✓ Industry standard Phase 3 trial designs (Noninferiority to aflibercept) ✓ Optimized Phase 3 patient population ✓ Glob
Slide 33: DME Global Phase 3 Program Overview
DME Global Phase 3 Program Overview: Derisking Strategy for Global Regulatory & Commercial Success ✓ Continued strong Phase 1/2 results ✓ Industry standard trial design (Noninferiority to aflibercept) ✓ Global regulatory alignment with FDA (RMAT) & EMA: Single Phase 3 trial sufficient to file for ap
Slide 34: Goal: Transform the standard of care for retinal vascular diseases
GOAL: To transform the standard of care for large market retinal vascular diseases with a safe, in-office & durable lifelong backbone therapy 1. Continuous disease control enabled by durable retinal expression of aflibercept 2. Global Phase 3 program for Wet AMD & DME 4D-150 3. Paradigm-shifting dur
Slide 35: 4D-150 Durability Profile is Paradigm-Shifting
4D-150 Durability Profile is Paradigm-Shifting Implied Treatment Burden Injection- Net Sales Reduction vs. free Year 3 Average Interval Predecessor Potential Post-Launch ~30 days1 0% $1.8B ~44 days Real World2 ~30% 0% $3.3B ~57 days ~25% 0% $4.4B Paradigm 4D-1503 ~365 days ~85% >50% Shifting Potenti
Slide 36: Commercial Model: Designed for Seamless Adoption & Global Scalability
Commercial Model: Designed for Seamless Adoption & Global Scalability PRACTICE WORKFLOW & GLOBAL SCALABILITY PAYORS ECONOMICS ▪ Manufacturing scalability ▪ Unique value proposition aligns ▪ In-office routine IVT dosing incentives to long-term disease ▪ Favorable COGS margin control and vision protec
Slide 37: Key Catalysts: Poised for Strong Clinical Data & Phase 3 Execution
Key Catalysts: Poised for Strong Clinical Data & Phase 3 Execution Milestones followed by Topline Phase 3 Data ▪ Q1 2026: 4FRONT-1 randomization complete ▪ Mid-2026: PRISM Phase 2b 2-year data Wet AMD ▪ H2 2026: 4FRONT-2 randomization complete ▪ H1 2027: 4FRONT-1 topline data ▪ H2 2027: 4FRONT-2 top
Slide 38: Key Takeaways for 2026 & Beyond
Key Takeaways for 2026 & Beyond ▪ Continue reporting strong Phase 1/2 & 2b clinical data in wet AMD & DME ▪ Continue Phase 3 execution momentum o Complete Phase 3 enrollment in Wet AMD (4FRONT-1/4FRONT-2) o Initiate Phase 3 in DME ▪ Deliver topline Wet AMD Phase 3 data in H1 2027 & H2 2027 GOAL: To
Slide 39: Thank You
THANK YOU 5858 Horton Street, Suite 455 | Emeryville, California 94608 (510) 505-2680 | Investor.Relations@4DMT.com IR.4DMT.com | LinkedIn © 2026 4D Molecular © 2026 4DTherapeutics. Molecular Therapeutics. All Rights Reserved. All Rights Reserved.
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