4D Molecular Therapeutics Inc. SEC Filings

4D Molecular Therapeutics, Inc. reported an equity award for its Chief Financial Officer. The officer received a stock option covering 480,000 shares of common stock at an exercise price of $10.51 per share, dated 12/09/2025, with the option expiring on 12/08/2035.

According to the vesting terms, 25% of the shares subject to the option vest on the first anniversary of the November 17, 2025 vesting commencement date. The remaining shares vest in 36 equal monthly installments so that the option is fully vested on the fourth anniversary of that date, provided the officer continues as a service provider to the company.

4D Molecular Therapeutics, Inc. reported that its Chief Financial Officer, Kristian Humer, had no beneficial ownership of the company’s securities as of December 9, 2025. The Section 16(a) insider ownership report indicates that no non-derivative or derivative securities of 4D Molecular Therapeutics are beneficially owned, and the filing was made for one reporting person.

4D Molecular Therapeutics, Inc. (FDMT)1,635 shares of common stock at $4.14 per share and, on the same date, sold 1,635 shares at $10.59 per share under a Rule 10b5-1 trading plan adopted on June 6, 2025. After these trades, the officer directly holds 3,594 shares of common stock and 75,230 stock options. The option underlying this transaction covers 1,635 shares and vests in equal monthly installments over four years starting from March 6, 2025, as long as the officer continues to serve the company.

4D Molecular Therapeutics, Inc. (FDMT) appointed Kristian Humer as its new Chief Financial Officer and Principal Financial Officer effective November 17, 2025. Humer brings experience from senior finance roles at Foghorn Therapeutics, Viridian Therapeutics, and Citigroup’s healthcare investment banking group. Under his offer letter, he receives an annual base salary of $520,000, a target annual bonus equal to 40% of base salary, a stock option to purchase 480,000 shares of common stock, and a $100,000 sign-on bonus paid in two installments with multi-year earn-out conditions tied to continued employment. If he is terminated without cause or resigns for good reason, he is eligible for severance benefits, including salary continuation and COBRA premium reimbursement, with enhanced benefits and full vesting acceleration of equity awards if such a termination occurs within 12 months after a change in control.

4D Molecular Therapeutics (FDMT) reported a larger quarterly loss as R&D spending increased. For the three months ended September 30, 2025, revenue was $90 thousand, research and development expense was $49.4 million, and general and administrative expense was $11.8 million, leading to a net loss of $56.9 million and a basic and diluted net loss per share of $1.01.

Liquidity remained solid with cash, cash equivalents and marketable securities totaling $372.2 million as of September 30, 2025. Net cash used in operating activities was $137.6 million for the nine months ended September 30, 2025. The company states these resources are sufficient to fund planned operations for at least one year from the financial statement issuance date.

As a subsequent event, in November 2025 FDMT completed an underwritten offering with net proceeds of approximately $93.3 million. As of November 7, 2025, shares outstanding were 57,135,075; an additional 10,513,949 shares were issuable upon exercise of pre-funded warrants at $0.0001 per share, subject to beneficial ownership limitations.

4D Molecular Therapeutics (FDMT) completed an underwritten equity offering, issuing 8,385,809 shares of common stock at $10.51 per share and pre-funded warrants for 1,128,949 shares at $10.5099 per warrant. The company reported net proceeds of approximately $93.3 million after underwriting discounts and expenses, and the transaction closed on November 7, 2025.

Underwriters purchased the shares at $9.8794 and the pre-funded warrants at $9.8793. The offering was conducted via a prospectus supplement under FDMT’s Form S-3 (effective August 15, 2023). Directors and executive officers agreed to a lock-up through January 6, 2026, subject to customary exceptions.

4D Molecular Therapeutics (FDMT) launched a primary offering of 8,385,809 shares and pre-funded warrants to purchase 1,128,949 shares at $10.51 and $10.5099, respectively. The total offering price is $99,999,993, less $6,000,006 in underwriting discounts, yielding $93,999,987 in proceeds before expenses and estimated net proceeds of approximately $93.3 million.

The company plans to fund research and development and commercialization preparations, and, together with existing cash of $372.2 million as of September 30, 2025 and expected Otsuka payments, projects funding at least into the second half of 2028. FDMT also announced an Otsuka collaboration granting APAC rights to 4D-150 with an $85.0 million upfront payment, up to $335.5 million in milestones, and tiered double‑digit royalties. Shares outstanding were 46,700,242 as of June 30, 2025.

4D Molecular Therapeutics (FDMT) reported a preliminary cash, cash equivalents and marketable securities balance of $372.2 million as of September 30, 2025. The company also announced positive interim 1.5–3.5-year data from its Phase 1/2 PRISM trial of 4D-150 in wet age-related macular degeneration.

Across cohorts, patients showed sustained reductions in supplemental anti-VEGF injections after 4D-150. In the Phase 2b recently diagnosed subgroup (Phase 3 comparable), mean supplemental injections were reduced 94% through year 1 and 92% through year 1.5. The broader Phase 2b cohort showed 83% through year 1 and 82% through year 1.5, while the Phase 1/2a severe, recalcitrant cohort showed 83% through year 1 and 79% through year 2. By 6‑month segments, the Phase 2b recently diagnosed subgroup recorded mean injections per patient of 0.1 (months 0–6), 0.2 (6–12), and 0.4 (12–18).