4D Molecular Therapeutics, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $54.7 million, compared to a net loss of $35.0 million for the same period in 2024. For the six months ended June 30, 2025, the company recorded a net loss of $102.6 million, up from $67.4 million in the prior year. The increase in losses is attributed to a significant rise in operating expenses, which totaled $59.5 million for the quarter, a 40% increase from $42.5 million in the previous year. Research and development expenses surged by 51% to $48.0 million, driven primarily by increased clinical trial activities for its lead product candidate, 4D-150.
The company’s revenue for the second quarter was $15,000, a modest increase from $5,000 in the same quarter last year. For the first half of 2025, total revenue decreased to $29,000 from $33,000 in 2024. The revenue primarily stems from collaboration and license agreements, notably with the Cystic Fibrosis Foundation. As of June 30, 2025, 4D Molecular Therapeutics had cash, cash equivalents, and marketable securities totaling $417.0 million, a decrease from $560.4 million at the end of 2024, reflecting ongoing operational expenditures.
Strategically, the company has focused on advancing its pipeline, particularly 4D-150 for wet age-related macular degeneration (AMD) and diabetic macular edema (DME). The company initiated two Phase 3 clinical trials for 4D-150, with the first trial, 4FRONT-1, enrolling patients ahead of schedule. The company expects to report topline data from this trial in the first half of 2027, which is an acceleration from previous timelines. Additionally, 4D-710, aimed at treating cystic fibrosis, is in early-stage development, with an interim data update expected in late 2025.
Operationally, 4D Molecular Therapeutics has seen a workforce reduction of approximately 25% as part of a strategic realignment to focus on its core product candidates. This decision is anticipated to yield annual cash savings of about $15 million. The company has also terminated its licensing agreement with Astellas Gene Therapies, which is not expected to incur any charges. Looking ahead, 4D Molecular Therapeutics plans to continue seeking additional funding to support its operations and product development, as it does not expect to generate significant revenue from product sales in the near future.
About 4D Molecular Therapeutics, Inc.
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