Overview

* 4D Molecular Therapeutics ( FDMT ) Q3 revenue missed analyst expectations

* Net income for Q3 missed analyst estimates

* Company entered strategic partnership with Otsuka, receiving $85 mln upfront cash

Outlook

* 4DMT expects cash runway into 2H 2028, supported by Otsuka partnership and equity offering

* 4DMT expects interim data from AEROW Phase 1 trial by year-end 2025

Result Drivers

* Research and development expenses were $49.4 million for the third quarter of 2025, as compared to $38.5 million for the third quarter of 2024

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $90,000 $287,900

Revenue (7

Analysts

)

Q3 Net Miss -$56.88 -$56.20

Income mln mln (4

Analysts

)

Q3 Slight -$61.19 -$61.60

Operatin Beat* mln mln (5

g Income Analysts

)

Q3 Basic -$1.01

EPS

Q3 $61.28

Operatin mln

g

Expenses

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the biotechnology & medical research peer group is "buy"

* Wall Street's median 12-month price target for 4D Molecular Therapeutics Inc ( FDMT ) is $34.50, about 69.6% above its November 7 closing price of $10.50

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)