What is the long-term trend for 4D Molecular Therapeutics's research and development expense?

Over 4 years (2021 to 2025), 4D Molecular Therapeutics's research and development expense has grown at a 33.6% compound annual growth rate (CAGR), from $61.36M to $195.7M.

4D Molecular Therapeutics FDMT Research and development expense

Research and development expense at other companies

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Other financials

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

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Market cap$602.22M+215%

Enterprise value$550.27M+574%

P/S6.8×-8,306×

Profitability

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Operating margin-220.1%-110pp

Net margin-174,314.2%-62,763pp

FCF margin-154,209.2%-53,057pp

Returns & leverage

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Return on equity-45.4%+29.8pp

Debt / equity0×0.0×

Current ratio9.3×-3.0×

Where this comes from

Reported directly by 4D Molecular Therapeutics in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost.

The official record: 4D Molecular Therapeutics’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is 4D Molecular Therapeutics's research and development expense?: 4D Molecular Therapeutics (FDMT) reported research and development expense of $64.98M in Q1 2026.
How has 4D Molecular Therapeutics's research and development expense changed year-over-year?: 4D Molecular Therapeutics's research and development expense increased by 59.7% year-over-year, from $40.7M to $64.98M.
What is the long-term trend for 4D Molecular Therapeutics's research and development expense?: Over 4 years (2021 to 2025), 4D Molecular Therapeutics's research and development expense has grown at a 33.6% compound annual growth rate (CAGR), from $61.36M to $195.7M.