4D Molecular Therapeutics Inc
FDMT
4D Molecular Therapeutics Inc AI Insights
Informational only. Not investment advice.Snapshot
- Cash burn of 185M FCF TTM vs 48.6M cash on hand = ~3 months runway without financing. Critical funding need imminent.[Free Cash Flow TTM]
- R&D spend of 181M TTM is 79% of total opex (230M) - pure clinical-stage bet with no commercial revenue base.[Research and Development TTM]
- P/S of 5,122x on 120K revenue reflects option value only. Trading at 1.67x book (369M equity) provides floor reference.[P/S Ratio]
Watch Triggers
- Cash and Equivalents: Falls below 30M or financing announced — Financing terms will determine 30-50% dilution impact on equity value
- Research and Development TTM: Drops >20% from 181M — R&D cuts signal pipeline prioritization or distress - affects platform value
- Total Revenue TTM: Increases above 10M — Any material revenue signals partnership milestone or licensing deal
Bull Case
369M tangible book value vs 615M market cap = 60% asset backing. Debt/equity of 0.06 means clean balance sheet for financing.
181M R&D investment with 4D proprietary AAV platform could attract strategic acquirer at premium to current 1.67x book.
Bear Case
Sub-3-month cash runway with no recent financing = imminent dilutive raise likely at distressed terms given biotech market.
Revenue of 120K (essentially zero) with -209M net loss TTM means 100% reliance on capital markets for survival.
Bull vs Bear Balance
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Forward Thesis
Binary outcome: either successful financing/partnership in 3-6 months or severe dilution/distress
- 48.6M cash vs 185M annual burn = <3 months runway
- No capital stock issuance in recent period signals pending raise
- Gene therapy sector consolidation creates M&A optionality
Public Strategies Rankings
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FDMT Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$454.62M | — | ||
$428.33M | — | ||
0.00 | — | ||
$120,000 | +605.9% | — | |
$-3.75 | — | ||
-191,982% | +798464.6% | — | |
-174,314% | +669685.8% | — | |
$-185.05M | — | ||
-0.45 | -12.9% | — | |
Beta 5Y (Monthly) | unknown | — |
FDMT Dividend History
FDMT Stock Splits
FDMT SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/10/25 | 09/30/25 | 10-Q | |
08/11/25 | 06/30/25 | 10-Q | |
05/08/25 | 03/31/25 | 10-Q | |
02/28/25 | 12/31/24 | 10-K | |
11/13/24 | 09/30/24 | 10-Q | |
08/08/24 | 06/30/24 | 10-Q | |
05/09/24 | 03/31/24 | 10-Q | |
02/29/24 | 12/31/23 | 10-K | |
11/09/23 | 09/30/23 | 10-Q | |
08/09/23 | 06/30/23 | 10-Q | |
05/11/23 | 03/31/23 | 10-Q | |
03/15/23 | 12/31/22 | 10-K | |
11/08/22 | 09/30/22 | 10-Q | |
08/11/22 | 06/30/22 | 10-Q | |
05/12/22 | 03/31/22 | 10-Q | |
03/28/22 | 12/31/21 | 10-K | |
11/10/21 | 09/30/21 | 10-Q | |
08/12/21 | 06/30/21 | 10-Q | |
05/13/21 | 03/31/21 | 10-Q | |
03/25/21 | 12/31/20 | 10-K | |
12/14/20 | 09/30/20 | 424B4 | |
08/12/21 | 06/30/20 | 10-Q | |
05/13/21 | 03/31/20 | 10-Q | |
12/14/20 | 12/31/19 | 424B4 | |
09/30/19 | 09/30/19 | Unknown | -- |
09/30/19 | 06/30/19 | S-1 | |
09/30/19 | 12/31/18 | S-1 |