4D Molecular Therapeutics, Inc.
FDMTNasdaqHealthcare · Biological Products, (No Diagnostic Substances) · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $85.2M | $37,000 | $20.7M | $3.1M | $18.0M | $13.4M |
| Operating income | −$159.5M | −$187.8M | −$112.9M | −$110.0M | −$71.3M | −$56.7M |
| Net income | −$140.1M | −$160.9M | −$100.8M | −$107.5M | −$71.3M | −$56.7M |
| Total assets | $566.7M | $560.4M | $339.9M | $261.8M | $353.5M | $288.3M |
| Total liabilities | $61.0M | $49.8M | $32.1M | $30.5M | $34.4M | $31.9M |
| Equity | $505.7M | $510.6M | $307.8M | $231.3M | $319.1M | $256.4M |
| EPS (diluted) | $-2.42 | $-2.98 | $-2.58 | $-3.32 | $-2.57 | — |
| Shares out. | 57.6M | 49.8M | 33.2M | 32.2M | 26.7M | 26.7M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −187.2%
- Net margin
- −164.4%
- Return on equity
- −27.7%
- Return on assets
- −24.7%
- Return on capital (ROCE)
- −30.5%
- Liabilities / assets
- 10.8%
- Debt / equity
- 0.12×
- Book value / share
- $8.78
- Revenue growth (YoY)
- 230194.6%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- 6.96safe
- Accruals / assets
- −5.5%clean
- Piotroski F-Score
- 4/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 3 warning● 4 good- Operating losses (negative operating margin)
- Reported a net loss
- Negative operating cash flow
- Revenue is growing year-over-year
- Conservative leverage (liabilities < 50% of assets)
- Clean earnings (low accruals)
- Altman Z″ in the safe zone
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Clinical trials
ClinicalTrials.gov · ongoing · next readout first- Phase 1/2Active Not Recruitingreadout ~2026-01An Open-label, Phase 1/2 Trial of Gene Therapy 4D-310 in Adults With Fabry Disease
- Phase 1/2Active Not Recruitingreadout ~2026-064D-125 in Patients With X-Linked Retinitis Pigmentosa (XLRP)
- Phase 1/2Recruitingreadout ~2026-064D-310 in Adults With Fabry Disease and Cardiac Involvement
- Phase 1/2Recruitingreadout ~2027-034D-150 in Patients With Neovascular (Wet) Age-Related Macular Degeneration
- Phase 1Active Not Recruitingreadout ~2027-05-26Dose Escalation Study of Intravitreal 4D-110 in Patients With Choroideremia
- Phase 3Active Not Recruitingreadout ~2027-064D-150 in Patients With Macular Neovascularization Secondary to Age-Related Macular Degeneration
- Phase 2Recruitingreadout ~2027-064D-710 in Adult Patients With Cystic Fibrosis
- Phase 3Recruitingreadout ~2028-11Single Intravitreal (IVT) Injection of 4D-150 in Patients With Macular Neovascularization Secondary to Age-Related Macular Degeneration
Interventional studies led by this company. “Readout” is the trial's primary-completion date — an estimate the sponsor reports, not a guarantee.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Ra Capital Management, L.P.Passive (13G)May 15, 2026
- Biotechnology Value Fund L PPassive (13G)May 15, 2026
- State Street CorpPassive (13G)May 12, 2026
- Janus Henderson Group PlcPassive (13G)Apr 7, 2026
- Vanguard Group IncPassive (13G)Mar 26, 2026
- Novo Holdings A/SPassive (13G)Feb 17, 2026
- Goldman Sachs Group IncPassive (13G)Feb 9, 2026
- Blackrock, Inc.Passive (13G)Oct 17, 2025
- Venrock Healthcare Capital Partners Iii, L.P.Passive (13G)May 15, 2025
- Deep Track Capital, LpPassive (13G)Feb 14, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Gupta AshooOfficer — VP, Finance and Controller | Mar 20, 2026 | Option exercise | 865 | — |
| Gupta AshooOfficer — VP, Finance and Controller | Dec 20, 2025 | Option exercise | 866 | — |
| Bizily ScottOfficer — Chief Legal Officer | Dec 16, 2025 | Option exercise | 1,635 | $4.14 |
| Theuer CharlesDirector | Dec 12, 2025 | Option exercise | 9,333 | $1.14 |
| Bizily ScottOfficer — Chief Legal Officer | Nov 17, 2025 | Option exercise | 1,635 | $4.14 |
| Bizily ScottOfficer — Chief Legal Officer | Oct 24, 2025 | Option exercise | 1,084 | $6.49 |
| Bizily ScottOfficer — Chief Legal Officer | Oct 16, 2025 | Option exercise | 1,635 | $4.14 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 12.1M | 19.1 | +0.8% |
| Apr 30, 2026 | 12.0M | 17.9 | +4.1% |
| Apr 15, 2026 | 11.5M | 16.3 | +6.0% |
| Mar 31, 2026 | 10.9M | 12.1 | +4.5% |
| Mar 13, 2026 | 10.4M | 14.1 | +2.6% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Results of operationsMay 7, 2026
- Director / officer changeMar 30, 2026
- Results of operationsMar 18, 2026
- Unregistered equity saleJan 26, 2026
- Results of operations · Director / officer changeJan 7, 2026
- Other material eventDec 10, 2025
- Director / officer changeNov 17, 2025
- Results of operationsNov 10, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 144Jun 1, 2026
- SCHEDULE 13G/AMay 15, 2026
- SCHEDULE 13G/AMay 15, 2026
- EFFECTMay 13, 2026
- SCHEDULE 13GMay 12, 2026
- S-3May 7, 2026
- 10-QMay 7, 2026
- 8-KMay 7, 2026
- ARSApr 28, 2026
- DEFA14AApr 28, 2026
- DEF 14AApr 28, 2026
- SCHEDULE 13G/AApr 7, 2026
- 8-KMar 30, 2026
- 4Mar 27, 2026
- 4Mar 27, 2026
Event-driven situations (1)
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