---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-273340"
form_type: "8-K"
ticker: "FDMT"
cik: "0001650648"
company_name: "4D Molecular Therapeutics, Inc."
filed_at: "2025-11-10T23:59:59+00:00"
generated_at: "2026-05-16T22:26:32.125027+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-273340
- form_type: 8-K
- ticker: FDMT
- cik: 0001650648
- company_name: 4D Molecular Therapeutics, Inc.
- filed_at: 2025-11-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1650648/000119312525273340/0001193125-25-273340-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1650648/000119312525273340/fdmt-20251110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-273340
- JSON: https://secwatch.observer/filing/0001193125-25-273340.json
- Plain text: https://secwatch.observer/filing/0001193125-25-273340.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.