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4D Molecular Therapeutics

FDMT

4D Molecular Therapeutics is a late-stage biotechnology company focused on developing targeted genetic medicines using its proprietary Therapeutic Vector Evolution (TVE) platform.

Market cap
$542.63M+166%
Revenue$88.2M+383,561%
Net income-$228.3M-41.9%
Free cash flow-$206.4M-49.1%
EPS (diluted)-$3.86-29.5%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 10, 2026 (In 1 week)
Revenue estimate$3.7M
EPS estimate-$1.04

Financials

Q1 2026

Income statement

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Revenue$3.0M+21,664%
Operating income-$73.6M-37.3%
Net income-$68.8M-43.3%
EPS (diluted)-$1.01-17.4%

Balance sheet

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Cash & equivalents$72.5M-45.7%
Total debt$20.5M-13.9%
Total equity$451.8M-3.8%
Total assets$512.9M-0.5%

Cash flow

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Operating cash flow-$68.1M-42.6%
CapEx--100%
Free cash flow-$68.1M-40.8%

Valuation & ratios

Valuation

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Market cap$542.63M+166%
Enterprise value$490.67M+205%
P/S6.2×-6,508×

Profitability

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Operating margin-220.1%-110pp

Returns & leverage

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Debt / equity0.0×
Current ratio9.3×-3.0×

Segments

By geography

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JP$3.0M
US$90.0K+543%

By product

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Collaboration And License Revenue$3.0M+21,664%

Competitors

Profile

4D Molecular Therapeutics is a late-stage biotechnology company focused on developing targeted genetic medicines using its proprietary Therapeutic Vector Evolution (TVE) platform. The company utilizes directed evolution in non-human primates to create customized adeno-associated virus (AAV) vectors designed to overcome the limitations of conventional gene therapies. Its primary value proposition lies in delivering durable, disease-modifying treatments for retinal and respiratory diseases through routine routes of administration.

Competitive position

A late-stage clinical player with a proprietary directed-evolution platform that differentiates its AAV vectors from conventional and mouse-evolved alternatives.

GeographiesUnited States, Japan, China, Australia, Europe
Customer segmentsPatients, Healthcare providers, Pharmaceutical partners
Business modelR&D intensive, Licensing and royalties, Product development
SuppliersPlasmid suppliers, Mammalian cell line providers, Laboratory equipment manufacturers, Contract Research Organizations (CROs)
CustomersSpecialty distributors, Government healthcare programs, Private health insurers, Strategic pharmaceutical partners
Listed2020
Employees171.0
CEODavid H. Kirn
FilingsSEC EDGAR

Questions, answered.

What is 4D Molecular Therapeutics's market cap?
4D Molecular Therapeutics (FDMT) has a market capitalization of $542.6M and trades on NASDAQ.
What is 4D Molecular Therapeutics's revenue and profitability?
4D Molecular Therapeutics generated $88.2M in trailing twelve-month revenue with a net loss of $228.3M, representing a net margin of -174314.2%, with free cash flow of -$206.4M. These figures are based on the Q1 2026 filing.
Who are 4D Molecular Therapeutics's competitors?
4D Molecular Therapeutics's key competitors include Regeneron Pharmaceuticals Inc., REGENXBIO Inc., AbbVie Inc., and others. These companies compete in similar markets and product categories.
Who does 4D Molecular Therapeutics partner with?
4D Molecular Therapeutics's notable partners include Otsuka Pharmaceutical Co., Ltd., Cystic Fibrosis Foundation, California Institute for Regenerative Medicine, and others.
Where is 4D Molecular Therapeutics headquartered?
4D Molecular Therapeutics is headquartered in United States of America and employs approximately 171 people. It has been publicly traded since 2020.