4D Molecular Therapeutics, Inc. FDMT R2K

Healthcare · Biotechnology · United States

https://www.4dmoleculartherapeutics.com

4D Molecular Therapeutics, Inc., a late-stage biotechnology company, engages in the development of adeno-associated virus vectors from its proprietary synthetic vector discovery platform, Therapeutic Vector Evolution in the Netherlands and the United States. The company's lead product candidate is 4D-150 for the treatment of retinal vascular diseases by providing multi-year sustained production of anti-VEGF from the retina with intravitreal injection, as well as for treating wet age-related macular degeneration and diabetic macular edema. It is also developing 4D-710, which is in early-stage study for the treatment of cystic fibrosis; 4D-175 that is in preclinical stage for treating geographic atrophy; and 4D-725, which is in preclinical stage for the treatment of alpha-1 anti-trypsin deficiency lung disease. 4D Molecular Therapeutics, Inc. has collaboration and licensing agreements with Otsuka Pharmaceutical Co., Ltd. The company was founded in 2013 and is headquartered in EmeryVille, California.

Market & Price

Market Cap

$518.06M

Current Price

$9.91

High / Low (52W)

$12.27 / $3.62

Beta

2.76

Valuation

Stock P/E

Industry PE

23.65

Forward P/E

PEG Ratio

Book Value

$8.64

Price to Book

1.15

P/S

5.87

EV/EBITDA

-0.86

Dividend Yield

Profitability & Returns

ROCE

-30.52%

ROE

-34.92%

ROA

-21.43%

Profit Margin

Op Margin

EPS (Latest Qtr)

$-1.01

EPS (TTM)

$-2.57

Balance Sheet & Liquidity

Debt/Equity

4.54

Quick Ratio

9.01

Current Ratio

9.34

Debt

$20.54M

Total Assets

$566.71M

Current Assets

$413.13M

Working Capital

$369.15M

Ownership

Promoter Holding

3.55%

Chg in Prom Hold

FII / Inst Holding

98.35%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$147.70M

Total Revenue (TTM)

$88.24M

EBITDA

$-171.43M

Free Cash Flow

$-69.36M

Operating Cash Flow

$-129.45M

Shares Outstanding

52.28M

Gross Margin

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

200.86%

Profit 5Y

-10.11%

Revenue (YoY)

Earnings (YoY)

PROS

Compounding revenue at 200.9% over 5 years.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Earnings shrank at -10.1% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	FDMT 4D Molecular Therapeutics, Inc. R2K	9.91	-	$518.06M	-	-30.52%	-34.92%	200.86%	-10.11%
2	LLY Eli Lilly and Company SPX	1,105.00	39.21	$985.37B	0.63%	38.44%	107.46%	31.69%	48.96%
3	JNJ Johnson & Johnson SPX	225.33	26.11	$542.42B	2.38%	23.13%	26.42%	5.60%	14.32%
4	UNH UnitedHealth Group Incorporated SPX	380.31	28.66	$345.38B	2.32%	9.60%	12.18%	11.35%	-15.69%
5	MRK Merck & Co., Inc. SPX	118.72	33.44	$293.22B	2.86%	20.66%	18.94%	3.12%	7.93%
6	TMO Thermo Fisher Scientific Inc. SPX	492.51	27.11	$183.03B	0.38%	9.17%	13.52%	-0.27%	-1.19%
7	AMGN Amgen Inc. NDXSPX	336.79	23.42	$181.77B	2.99%	18.02%	101.32%	11.77%	5.58%
8	GILD Gilead Sciences, Inc. NDXSPX	134.43	18.29	$166.90B	2.44%	22.92%	43.36%	2.57%	22.83%
9	ISRG Intuitive Surgical, Inc. NDXSPXAI	424.64	51.53	$150.39B	-	15.96%	17.23%	17.39%	29.26%

Quarterly Results

Figures in USD.

Metric	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	3.41M	3.51M	7.42M	2.00M	14.58M	1.37M	1.22M	162.00K	500.00K	298.00K	239.00K	20.20M	28.00K	5.00K	-	14.00K	15.00K	90.00K	85.09M	3.05M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	53.63M	59.47M	61.27M	70.38M	76.67M
Operating Income	-13.28M	-15.15M	-7.82M	-16.31M	-7.60M	-22.66M	-26.39M	-28.43M	-26.50M	-30.11M	-32.14M	-13.97M	-38.14M	-42.46M	-	-53.62M	-59.46M	-61.19M	14.71M	-73.62M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-51.87M	-57.57M	-59.18M	16.70M	-71.56M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-47.97M	-54.66M	-56.88M	19.40M	-68.76M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income	-13.16M	-15.15M	-7.83M	-16.41M	-7.59M	-22.24M	-26.34M	-28.09M	-25.69M	-28.68M	-29.62M	-10.26M	-32.40M	-34.95M	-	-47.97M	-54.66M	-56.88M	19.40M	-68.76M
Diluted EPS	-	-	-	-	-0.28	-0.82	-0.82	-0.87	-0.79	-0.88	-0.77	-0.24	-0.66	-0.63	-0.79	-0.86	-0.98	-1.01	-	-1.01
R&D Expense	13.16M	15.72M	11.55M	12.77M	15.22M	15.84M	-	-	-	-	-	-	-	-	-	-	-	-	-	-

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	6.96M	13.36M	-	3.13M	20.72M	37.00K	85.21M
Cost of Revenue	-	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-	-
Operating Expenses	-	-	-	113.16M	133.59M	187.88M	244.76M
Operating Income	-50.76M	-56.66M	-	-110.03M	-112.87M	-187.84M	-159.55M
EBITDA	-	-	-	-106.15M	-107.12M	-181.14M	-151.92M
Interest Expense	-	-	-	-	-	-	-
Pretax Income	-	-	-	-107.49M	-100.84M	-160.87M	-140.11M
Tax Provision	-	-	-	-	-	-	-
Net Income	-49.31M	-56.69M	-	-107.49M	-100.84M	-160.87M	-140.11M
Diluted EPS	-	-	-2.57	-3.32	-2.58	-2.98	-

Compounded Sales Growth

5 Years:	200.86%
1 Year:	-

Compounded Profit Growth

5 Years:	-10.11%
1 Year:	-

Stock Price Performance

1 Year:	+173.76%
6 Months:	-7.21%
3 Months:	+2.59%
1 Month:	+12.49%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	58.23M	288.33M	-	261.85M	339.89M	560.38M	566.71M
Current Assets	-	-	-	-	220.51M	296.59M	434.93M	413.13M
Cash & Equivalents	-	49.65M	276.73M	-	52.35M	249.11M	149.34M	60.24M
Inventory	-	-	-	-	-	-	-	-
Receivables	-	-	-	47.00K	0	-	-	-
Total Liabilities	-	28.22M	31.94M	-	30.51M	32.06M	49.78M	61.05M
Current Liabilities	-	12.96M	16.74M	-	15.73M	18.95M	29.15M	43.98M
Long Term Debt	-	-	-	-	-	-	-	-
Total Debt	-	-	-	-	16.12M	14.67M	24.61M	21.41M
Total Equity	-27.59M	-72.97M	256.39M	-	231.34M	307.83M	510.61M	505.66M
Shares Outstanding	-	-	-	-	32.63M	43.08M	45.79M	57.61M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-36.71M	-50.91M	-	-86.69M	-75.79M	-134.59M	-109.08M
Investing Cash Flow	-3.20M	-1.00M	-	-17.05M	115.72M	-302.44M	-92.97M
Financing Cash Flow	-2.19M	278.98M	-	3.08M	156.83M	337.25M	112.96M
Capital Expenditure	-3.20M	-1.00M	-	-11.54M	-2.77M	-3.79M	-536.00K
Free Cash Flow	-39.91M	-51.91M	-	-98.22M	-78.56M	-138.37M	-109.62M
Net Change in Cash	-	-	-	-100.65M	196.76M	-99.77M	-89.09M

Ratios (Annual)

Figures in %.

Metric	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-
Operating Margin %	-729.4%	-424.0%	-	-3,516.5%	-544.6%	-507,678.4%	-187.2%
Net Margin %	-708.4%	-424.3%	-	-3,435.4%	-486.6%	-434,778.4%	-164.4%
ROE %	67.6%	-22.1%	-	-46.5%	-32.8%	-31.5%	-27.7%
ROCE %	-112.1%	-20.9%	-	-44.7%	-35.2%	-35.4%	-30.5%

Shareholding Pattern

Insiders

3.55%

Institutions

98.35%

Public Float

101.97%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Janus Henderson Group PLC	10.04%	5.25M	$52.00M
2	RA Capital Management, L.P.	9.66%	5.05M	$50.04M
3	Goldman Sachs Group Inc	8.04%	4.21M	$41.68M
4	Blackrock Inc.	7.93%	4.15M	$41.08M
5	Novo Holdings A/S	6.98%	3.65M	$36.18M
6	BVF Inc.	5.51%	2.88M	$28.53M
7	State Street Corporation	5.18%	2.71M	$26.84M
8	Vanguard Capital Management LLC	4.20%	2.20M	$21.76M
9	Armistice Capital, LLC	3.83%	2.00M	$19.82M
10	Adage Capital Partners GP L.L.C.	3.07%	1.61M	$15.91M

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