May 07, 2026 —
4D Molecular Therapeutics reported first-quarter 2026 financial results and provided operational updates across its ophthalmology and genetic medicine pipeline, led by continued progress for 4D-150, the company’s investigational AAV-based intravitreal genetic medicine for wet age-related macular degeneration (wet AMD). The company announced that randomization has been completed in the North American Phase 3 4FRONT-1 trial, with 523 participants enrolled, and topline data expected in the first half of 2027.
4D-150 is designed as a durable retinal therapy that uses 4DMT’s targeted and evolved R100 AAV vector to deliver transgenes encoding anti-VEGF and anti-angiopoietin-2 activity. The program aims to reduce the need for frequent intravitreal injections in wet AMD, a chronic retinal disease that typically requires repeated anti-VEGF treatment to maintain disease control.
The Phase 3 4FRONT program includes two major wet AMD studies. In addition to 4FRONT-1, the global 4FRONT-2 trial is expected to complete enrollment in the second half of 2026, with topline data anticipated in the second half of 2027. The company also expects two-year data from the Phase 2b portion of the PRISM wet AMD trial to be presented at a scientific conference in the third quarter of 2026, including data from a recently diagnosed subgroup comparable to the 4FRONT Phase 3 population.
For diabetic macular edema (DME), 4DMT expects two-year data from the SPECTRA trial in the second half of 2026. A global Phase 3 DME trial design is expected around mid-2026, with study initiation planned for the third quarter. Beyond 4D-150, the company continues to evaluate strategic funding options for 4D-175 in geographic atrophy while maintaining an active IND, and expects an update from the AEROW Phase 1/2 trial of 4D-710 for cystic fibrosis in the second half of 2026.
Financially, 4DMT reported $458 million in cash, cash equivalents, and marketable securities as of March 31, 2026. Based on its current operating plan and expected payments under its collaboration agreement with Otsuka, the company expects its cash runway to support operations into the second half of 2028.
Overall, 4DMT’s update highlights strong execution across its late-stage AAV-based ophthalmology pipeline, with 4D-150 advancing through pivotal development in wet AMD and additional data expected in both wet AMD and DME. If successful, 4D-150 could contribute to the growing shift toward durable AAV-enabled retinal therapies designed to reduce treatment burden for patients with chronic vascular eye diseases.
