4DMT FY23 EPS $(2.58) Vs $(3.32) YoY
Portfolio Pulse from Benzinga Newsdesk
4D Molecular Therapeutics (4DMT) reported a narrower FY23 EPS loss of $(2.58) compared to $(3.32) YoY, and positive interim data from its Phase 2 PRISM study on 4D-150 for wet AMD, indicating progression to Phase 3 in Q1 2025. Positive data were also reported for 4D-710 in cystic fibrosis and 4D-310 in Fabry disease. Strategic partnerships with Astellas Pharma and Arbor Biotechnologies were highlighted. An upsized public offering raised $300 million, extending operational runway into H1 2027. The company anticipates key milestones across its portfolio in 2024.
February 29, 2024 | 9:35 pm
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POSITIVE IMPACT
4D Molecular Therapeutics reported a narrower FY23 EPS loss and positive interim data for its leading programs, secured strategic partnerships, and strengthened its financial position with a successful public offering.
The positive interim data from the Phase 2 PRISM study on 4D-150 for wet AMD, along with successful strategic partnerships and a significant public offering, suggest a strong operational and financial position for 4DMT. These developments are likely to be viewed positively by investors, potentially leading to a short-term positive impact on FDMT's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100