4DMT reports Q3 net loss $56.9M, enters Otsuka partnership for 4D-150 APAC rights for $85M upfront

4D Molecular Therapeutics, Inc.

2025-Q3 EPS reported -$2.85 revenue$119,000

Net loss $56.9M in Q3 2025 vs $43.8M in Q3 2024; R&D expenses $49.4M (up from $38.5M).
Otsuka partnership: $85M upfront + $50M cost sharing; up to $336M milestones + royalties. 4DMT retains ex-APAC rights.
Cash $372M at Sept 30; + Otsuka payments + $93M equity raise extends runway into H2 2028.
4FRONT Phase 3 enrollment: >200 patients randomized in 4FRONT-1; topline data H1 2027. 4FRONT-2 on track.
Positive long-term PRISM (wet AMD) and SPECTRA (DME) data; 4D-150 well tolerated with durable benefit.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.