4D Molecular Therapeutics, Inc. (FDMT)
4D Molecular Therapeutics, Inc. is a clinical-stage gene therapy company that engineers therapeutic agents by leveraging its proprietary adeno-associated virus (AAV) vector technology. The company's developmental efforts are concentrated across a trio of therapeutic fields: ophthalmology (eye conditions), cardiology (heart ailments), and pulmonology (respiratory disorders). Within its active pipeline, three specific product candidates have advanced into clinical trial phases, all currently undergoing Phase 1/2 clinical assessment: 4D-125 is being evaluated for the treatment of X-linked retinitis pigmentosa. 4D-110 targets choroideremia. 4D-310 is focused on addressing Fabry disease. Beyond these, two Investigational New Drug (IND) candidates are in development: 4D-150, aimed at combating wet age-related macular degeneration, and 4D-710, designed to tackle cystic fibrosis lung disease. To advance its mission, 4D Molecular Therapeutics, Inc. actively engages in research and development partnerships with entities such as uniQure, CRF, Roche, and CFF. The firm commenced operations in 2013 and maintains its headquarters in Emeryville, California.
Sector: Biological Products, (No Diagnostic Substances)
Industry: Biotechnology
4D Molecular Therapeutics, Inc.
NASDAQ:FDMTHealthcare · Biotechnology
-6.89%$11.90
AH$11.90+0.00%vs close
Mkt Cap$657.41M
Float53.34M
O/S55.24M
Vol
$ Vol
RVOL
Inst Own-
SI21.6%
Earnings
Dilution
Financials Summary
Revenue$85.21M
Net Income-$140.11M
Total Assets$566.71M
Free Cash Flow-$109.08M
Debt & Equity
Debt 4%
Equity 96%
Total Debt$21.41M
Total Equity$505.66M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in FDMT's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$566.71M
Liabilities$61.05M
Accounts Receivable$0
Accounts Payable$11.16M
Inventory$0
PP&E (Net)$33.01M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Revenue | $85.21M | $37K | $20.72M | $3.13M | $18.04M | $13.61M | $6.99M | $14.13M | $5.79M |
| YoY Growth | 230194.6% | -99.8% | 562.3% | -82.7% | 32.5% | 94.8% | -50.6% | 144.0% | - |
| Cost of Revenue | $7.63M | $141.3M | $97.1M | $80.25M | $61.36M | $53.04M | $38.72M | $18.36M | $13.57M |
| Gross Profit | $77.58M | -$141.26M | -$76.37M | -$77.12M | -$43.32M | -$39.43M | -$31.73M | -$4.23M | -$7.78M |
| Gross Margin | 91.1% | -381789.2% | -368.5% | -2464.8% | -240.2% | -289.6% | -454.2% | -30.0% | -134.4% |
| Research and Development | $195.7M | $141.3M | $97.1M | $80.25M | $61.36M | $53.04M | $43.85M | $18.36M | $13.57M |
| Selling, General, and Administrative | $49.06M | $46.58M | $36.49M | $32.91M | $28.01M | $17.24M | $13.89M | $6.17M | $3.49M |
| Other | -$7.63M | -$141.3M | -$97.1M | -$80.25M | -$61.36M | -$53.04M | -$38.72M | -$2K | -$40K |
| Total Operating Expenses | $237.13M | $46.58M | $36.49M | $32.91M | $28.01M | $17.24M | $19.03M | $24.53M | $17.06M |
| Operating Income (EBIT) | -$159.55M | -$187.84M | -$112.87M | -$110.03M | -$71.33M | -$56.66M | -$50.76M | -$10.4M | -$11.27M |
| Operating Margin | -187.2% | -507678.4% | -544.6% | -3516.5% | -395.5% | -416.3% | -726.7% | -73.6% | -194.7% |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $19.48M | $27.05M | $12.21M | $2.57M | $137K | $152K | $1.5M | $850K | $89K |
| Other Income (Expense) | $19.44M | $26.97M | $12.03M | $2.54M | $16K | -$29K | $1.46M | $848K | $49K |
| Income Before Tax (EBT) | -$140.11M | -$160.87M | -$100.84M | -$107.49M | -$71.32M | -$56.69M | -$49.31M | -$9.55M | -$11.22M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$89K |
| Net Income | -$140.11M | -$160.87M | -$100.84M | -$107.49M | -$71.32M | -$56.69M | -$49.31M | -$9.55M | -$11.22M |
| Net Income Margin | -164.4% | -434778.4% | -486.6% | -3435.4% | -395.4% | -416.5% | -705.8% | -67.6% | -193.8% |
| Supplementary Data | |||||||||
| EPS | -2.42 | -2.98 | -2.58 | -3.12 | -2.46 | -2.12 | -2.00 | -0.76 | -0.76 |
| Diluted EPS | -2.42 | -2.98 | -2.58 | -3.12 | -2.46 | -2.12 | -2.00 | -0.76 | -0.76 |
| Weighted Average OS | 57.93M | 53.94M | 39.13M | 32.35M | 27.73M | 26.68M | 26.49M | 12.52M | 14.84M |
| EBITDA | -$132.48M | -$154.16M | -$95.09M | -$103.61M | -$68.3M | -$55.22M | -$44.62M | -$9.7M | -$10.65M |
| EBITDA Margin | -155.5% | -416656.8% | -458.9% | -3311.4% | -378.6% | -405.7% | -638.7% | -68.7% | -183.9% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | $60.24M | $149.34M | $249.11M | $52.35M | $153M | $276.73M | $49.65M | $91.76M | $23.85M |
| Short-Term Investments | $342.41M | $275.54M | $39.12M | $161.2M | $94.78M | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $402.65M | $424.88M | $288.23M | $213.55M | $247.78M | $276.73M | $49.65M | $91.76M | $23.85M |
| Accounts Receivable | $0 | $0 | $0 | $0 | $47K | $1.49M | $978K | $1.12M | $321K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $10.48M | $10.05M | $8.36M | $6.96M | $0 | $4.44M | $0 | $0 | $0 |
| Total Current Assets | $413.13M | $434.93M | $296.59M | $220.51M | $256.28M | $282.66M | $52.51M | $94.07M | $24.5M |
| Long-Term Assets | |||||||||
| Property, Plant & Equipment Net | $33.01M | $40.61M | $31.66M | $35.35M | $28.95M | $5.07M | $5.05M | $2.47M | $2.72M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $111.38M | $80.58M | $10.95M | $4.91M | $67.65M | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $9.19M | $4.26M | $684K | $1.08M | $602K | $602K | $677K | $429K | $105K |
| Total Long-Term Assets | $153.58M | $125.45M | $43.3M | $41.34M | $97.21M | $5.67M | $5.73M | $2.9M | $2.82M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $566.71M | $560.38M | $339.89M | $261.85M | $353.49M | $288.33M | $58.23M | $96.97M | $27.32M |
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts Payable | $11.16M | $4.39M | $3.52M | $3.32M | $4.76M | $1.79M | $1.74M | $954K | $460K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $93K | $51K |
| Current Unearned Revenue | $360K | $257K | $273K | $884K | $2.6M | $6.59M | $5.86M | $4.91M | $4.38M |
| Other Current Liabilities | $0 | $0 | $3.87M | $0 | $0 | $0 | $0 | $0 | $279K |
| Total Current Liabilities | $43.98M | $29.15M | $18.95M | $15.73M | $16.34M | $16.74M | $12.96M | $8.05M | $5.91M |
| Long-Term Liabilities | |||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $745K | $1.06M | $972K | $1.08M | $2.49M | $13.23M | $13.6M | $13.08M | $22.19M |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $496K | $603K | $617K | $233K | $334K | $1.97M | $104.65M | $103.43M | $18.81M |
| Total Long-Term Liabilities | $17.06M | $20.63M | $13.11M | $14.78M | $18.04M | $15.2M | $118.25M | $116.5M | $41M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $61.05M | $49.78M | $32.06M | $30.51M | $34.38M | $31.94M | $131.2M | $124.56M | $46.91M |
| Stockholders' Equity | |||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $288.33M | $102.98M | $102.98M | $18.51M |
| Common Stock | $6K | $5K | $4K | $3K | $3K | $3K | $1K | $1K | $1K |
| Retained Earnings | -$716.3M | -$576.2M | -$415.33M | -$314.49M | -$207M | -$135.68M | -$79.03M | -$30.03M | -$20.48M |
| Comprehensive Income & Other | $727K | $229K | $16K | -$1.2M | -$423K | -$288.33M | -$102.98M | -$102.98M | -$18.51M |
| Other Stockholders' Equity | $1.22B | $1.09B | $723.15M | $545.82M | $526.1M | $392.06M | $6.05M | $2.44M | $884K |
| Total Equity | $505.66M | $510.61M | $307.83M | $231.34M | $319.11M | $256.39M | -$72.97M | -$27.59M | -$19.59M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $566.71M | $560.38M | $339.89M | $261.85M | $353.49M | $288.33M | $58.23M | $96.97M | $27.32M |
| Supplementary Data | |||||||||
| Total Debt | $21.41M | $24.61M | $14.67M | $16.12M | $16.45M | $0 | $0 | $0 | $0 |
| Net Debt | -$38.83M | -$124.73M | -$234.44M | -$36.23M | -$136.55M | -$276.73M | -$49.65M | -$91.76M | -$23.85M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Operating Activities | |||||||||
| Net Income | -$140.11M | -$160.87M | -$100.84M | -$107.49M | -$71.32M | -$56.69M | -$49.31M | -$9.55M | -$11.22M |
| Depreciation & Amortization | $7.63M | $6.71M | $5.75M | $3.88M | $3.02M | $1.44M | $1M | $697K | $626K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $22.02M | $26.12M | $19.66M | $17.12M | $13.8M | $4.98M | $3.54M | $1.38M | $256K |
| Changes in Working Capital: | |||||||||
| Accounts Receivable | $0 | $0 | $0 | $47K | $1.44M | -$508K | $146K | -$803K | -$320K |
| Inventory | $0 | $0 | $0 | $0 | -$4.54M | $0 | $0 | $175K | -$53K |
| Accounts Payable | $6.77M | $871K | $896K | -$1.64M | $2.29M | $43K | $533K | $438K | -$114K |
| Other Working Capital | -$601K | -$334K | -$266K | $255K | -$14.72M | -$247K | -$420K | -$8.59M | $19.03M |
| Total Working Capital Change | $6.17M | $537K | $630K | -$1.34M | -$15.53M | -$712K | $259K | -$8.78M | $18.54M |
| Other Non-Cash Items | -$4.79M | -$7.08M | -$999K | $1.14M | $898K | $69K | $7.79M | $2K | $39K |
| Net Cash from Operating | -$109.08M | -$134.59M | -$75.79M | -$86.69M | -$69.13M | -$50.91M | -$36.71M | -$16.25M | $8.24M |
| Investing Activities | |||||||||
| Capital Expenditures | -$536K | -$3.79M | -$2.77M | -$11.54M | -$9.11M | -$1M | -$3.2M | -$414K | -$573K |
| Acquisitions | $0 | $0 | $0 | $0 | $9.11M | $0 | $0 | $0 | $24K |
| Purchases of Investments | -$442.82M | -$467.65M | -$54.8M | -$153.31M | -$168.57M | $0 | $0 | $0 | $0 |
| Sales of Investments | $350.38M | $169M | $173.29M | $147.8M | $5M | $0 | $0 | $0 | $8.22M |
| Other Investing Activities | $0 | $0 | $0 | $0 | -$9.11M | $0 | $0 | $0 | $24K |
| Net Cash from Investing | -$92.97M | -$302.44M | $115.72M | -$17.05M | -$172.68M | -$1M | -$3.2M | -$414K | $7.67M |
| Financing Activities | |||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $112.96M | $331.41M | $156.83M | $3.08M | $114.3M | $205.66M | -$2.19M | $105K | $16K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $5.84M | $0 | $0 | $3.79M | $857K | $0 | $84.58M | $0 |
| Net Cash from Financing | $112.96M | $337.25M | $156.83M | $3.08M | $118.09M | $278.98M | -$2.19M | $84.58M | $16K |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$89.09M | -$99.77M | $196.76M | -$100.65M | -$123.72M | $227.07M | -$42.11M | $67.91M | $15.93M |
| Supplementary Data | |||||||||
| Operating Cash Flow | -$109.08M | -$134.59M | -$75.79M | -$86.69M | -$69.13M | -$50.91M | -$36.71M | -$16.25M | $8.24M |
| Capital Expenditure | -$536K | -$3.79M | -$2.77M | -$11.54M | -$9.11M | -$1M | -$3.2M | -$414K | -$573K |
| Free Cash Flow | -$109.08M | -$138.37M | -$78.56M | -$98.22M | -$78.24M | -$51.91M | -$39.91M | -$16.67M | $7.66M |
| Cash at Beginning | $149.34M | $249.11M | $52.35M | $153M | $276.73M | $49.65M | $91.76M | $23.85M | $7.92M |
| Cash at End | $60.24M | $149.34M | $249.11M | $52.35M | $153M | $276.73M | $49.65M | $91.76M | $23.85M |