4DMT Q2 net loss $54.7M; accelerates 4D-150 Phase 3 wet AMD data to H1 2027

4D Molecular Therapeutics, Inc.

2025-Q2 EPS reported -$1.84 revenue$29,000

Cash $417M (down from $505M Dec 2024); funds into 2028; workforce cut ~25% saves ~$15M/yr.
Net loss $54.7M vs $35.0M Q2 2024; R&D spend $48.0M (+50% YoY) on Phase 3 startup.
4FRONT-1 wet AMD Phase 3 topline data accelerated to H1 2027; 4FRONT-2 initiated ahead of schedule.
DME SPECTRA 60-wk: Phase 3 dose 78% fewer injections vs on-label aflibercept; FDA/EMA align on single-study approval.
RMAT designation for 4D-150 in DME; 4D-710 cystic fibrosis cohort enrollment complete, data Q4 2025.

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