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4D Molecular Therapeutics Announces Proposed Public Offering of Common Stock

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4D Molecular Therapeutics, Inc. (FDMT) has announced a public offering of $250.0 million of its common stock with an option for underwriters to purchase an additional $37.5 million. The offering is subject to market conditions, and the company has filed a registration statement with the SEC. The joint book-running managers for the offering are Goldman Sachs & Co. LLC, BofA Securities, Jefferies, and Barclays.
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4D Molecular Therapeutics' decision to commence an underwritten public offering of $250 million in common stock, with an additional $37.5 million option for underwriters, is a significant move for the company. This capital raise can provide the company with the necessary funds to advance its genetic medicine programs, potentially accelerating the development timeline for treatments of large market diseases. The involvement of major financial institutions like Goldman Sachs & Co. LLC, BofA Securities, Jefferies and Barclays as joint book-running managers indicates a level of confidence in the company's prospects.

Investors should consider the risks associated with such offerings, including market volatility and the dilutive effect on existing shareholders. The raised capital could lead to expanded research and development efforts or strategic partnerships, which may increase the company's long-term value. However, the short-term market reaction could be mixed, depending on investor perception of the company's growth potential versus the dilutive impact of the new shares.

The genetic medicines market is rapidly evolving, with significant investment and interest in companies that promise innovative treatments. The announcement by 4D Molecular Therapeutics aligns with industry trends where biotech firms seek public funding to fuel their research pipelines. The success of this offering will depend on market conditions and investor appetite for biotech stocks, which is influenced by factors such as regulatory news, clinical trial outcomes and overall market sentiment towards the healthcare sector.

It's important to analyze comparable offerings in the sector to understand how this move positions 4D Molecular Therapeutics relative to its peers. The company's valuation post-offering, the use of proceeds and the progress of its clinical programs will be key metrics for investors to monitor. The additional $37.5 million option for underwriters also provides a cushion that could be advantageous if the market response is favorable, potentially reducing the cost of capital for the company.

For stakeholders in the biotech industry, the timing and size of the public offering by 4D Molecular Therapeutics is crucial. The company's focus on genetic medicines for large market diseases suggests a strategic targeting of high-impact, high-revenue potential areas. The success of the offering is contingent on the company's current market valuation, the perceived potential of its technology and the competitive landscape. As the field of genetic medicine is highly specialized and competitive, investors will be looking for differentiators that set 4D Molecular Therapeutics' approach apart from others in the space.

Furthermore, the automatic effectiveness of the registration statement with the SEC simplifies the process, indicating preparedness and regulatory compliance. The impact on the company's stock will also be influenced by the market's perception of the company's transparency and governance, as demonstrated by its regulatory interactions and communications with potential investors.

EMERYVILLE, Calif., Feb. 05, 2024 (GLOBE NEWSWIRE) -- 4D Molecular Therapeutics, Inc. (Nasdaq: FDMT), a leading clinical-stage genetic medicines company focused on unlocking the full potential of genetic medicines to treat large market diseases, announced today that it has commenced an underwritten public offering of $250.0 million of shares of its common stock. 4D Molecular Therapeutics also intends to grant the underwriters a 30-day option to purchase up to an additional $37.5 million of shares of common stock offered in the proposed offering. All of the shares in the proposed offering are to be sold by 4D Molecular Therapeutics. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Goldman Sachs & Co. LLC, BofA Securities, Jefferies and Barclays are acting as joint book-running managers for the proposed offering.

A registration statement relating to the shares to be sold in the proposed offering has been filed with the U.S. Securities and Exchange Commission (SEC) and became automatically effective upon filing on February 5, 2024. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov. The offering will be made only by means of a prospectus. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering may be obtained, when available, from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526 or by email at prospectus-ny@ny.email.gs.com; BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (888) 603-5847 or by email at Barclaysprospectus@broadridge.com; or by accessing the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About 4DMT
4DMT is a leading clinical-stage genetic medicines company focused on unlocking the full potential of genetic medicines to treat large market diseases in ophthalmology and pulmonology. 4DMT’s proprietary invention platform, Therapeutic Vector Evolution, combines the power of the Nobel Prize-winning technology, directed evolution, with approximately one billion synthetic AAV capsid-derived sequences to invent customized and evolved vectors for use in our wholly owned and partnered product candidates. Our product design, development, and manufacturing engine helps us efficiently create and advance our diverse product pipeline with the goal of revolutionizing medicine with potential curative therapies for millions of patients. Currently, 4DMT is advancing five clinical-stage and two preclinical product candidates, each tailored to address rare and large market diseases in ophthalmology, pulmonology, and cardiology. In addition, 4DMT is also advancing programs in CNS through a gene editing partnership. 4D Molecular Therapeutics™, 4DMT™, Therapeutic Vector Evolution™, and the 4DMT logo are trademarks of 4DMT.

All of our product candidates are in clinical or preclinical development and have not yet been approved for marketing by the FDA or any other regulatory authority. No representation is made as to the safety or effectiveness of our product candidates for the therapeutic uses for which they are being studied.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. All statements other than statements of historical facts contained in this press release are forward-looking statements, including statements regarding the proposed offering and the grant to the underwriters of the option to purchase additional shares. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, risks and uncertainties related to market conditions and the completion of the proposed offering on the anticipated terms or at all, and other risks are described in greater detail under the section titled “Risk Factors” contained in the prospectus supplement related to the public offering and 4D Molecular Therapeutics’ current and future reports filed with the SEC, including its most recent Quarterly Report on Form 10-Q filed on November 9, 2023. Any forward-looking statements that the company makes in this press release are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and speak only as of the date of this press release. Except as required by law, the company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Media:
Katherine Smith
Inizio Evoke Comms
Katherine.Smith@inizioevoke.com

Investors:
Julian Pei
Head of Investor Relations and Corporate Communications
Investor.Relations@4DMT.com
267-644-5097


4D Molecular Therapeutics, Inc. (FDMT) has announced a public offering of $250.0 million of its common stock with an option for underwriters to purchase an additional $37.5 million.

The joint book-running managers for the offering are Goldman Sachs & Co. LLC, BofA Securities, Jefferies, and Barclays.

The registration statement can be accessed through the SEC’s website at www.sec.gov.

Copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained from Goldman Sachs & Co. LLC, BofA Securities, Jefferies, and Barclays, or by accessing the SEC’s website at www.sec.gov.

Yes, the offering is subject to market conditions.
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About FDMT

the mission of 4d molecular therapeutics is to design and develop transformative gene therapy products using our proprietary technology to create novel adeno-associated virus variants to be utilized as treatments for serious unmet medical conditions. our products are unlocking the full potential of gene therapy to treat, and potentially cure, genetic diseases. a large number of patients and diseases, who previously were not treatable by gene therapy, will be addressable by 4d products. 4d has one of the deepest and most diverse product pipelines in the gene therapy field. adeno-associated virus (aav) vectors have emerged as a favored delivery vehicle for gene therapy in the human body. they can deliver the genes for therapeutic proteins to accessible tissues in the body and are generally considered safe. several aav gene therapy products are in late-stage clinical development, and one product is approved in the eu (glybera, uniqure). however, these first-generation aav vectors have lim