FDMT
Healthcare4D Molecular Therapeutics, Inc. · Biotechnology · $450M
What is 4D Molecular Therapeutics, Inc.?
4D Molecular Therapeutics is a clinical-stage gene therapy company focused on developing treatments for serious diseases across ophthalmology, cardiology, and pulmonology. The company uses proprietary adeno-associated virus vector technology to build its pipeline.
The company designs gene therapy candidates intended to address rare and underserved conditions. Its approach centers on engineering AAV vectors to deliver genetic material to targeted tissues. Revenue is not yet generated from product sales — the business is funded through research collaborations and capital raises. Partners include Roche, uniQure, and the Cystic Fibrosis Foundation, which provide both validation and non-dilutive funding support.
Founded in 2013 and headquartered in Emeryville, California, 4D Molecular Therapeutics operates as a pre-revenue, research-driven biotech.
- 4D-125: Phase 1/2 candidate for X-linked retinitis pigmentosa
- 4D-110: Phase 1/2 candidate for choroideremia
- 4D-310: Phase 1/2 candidate for Fabry disease
- 4D-150: IND-stage candidate for wet age-related macular degeneration
- 4D-710: IND-stage candidate for cystic fibrosis lung disease
Is FDMT a Good Stock to Buy?
UQS Score rates FDMT as Poor overall, reflecting the early-stage nature of its pipeline and the financial profile typical of pre-revenue clinical biotechs.
The Risk pillar stands out as the relative bright spot in FDMT's profile, suggesting the company maintains a manageable balance sheet position compared to peers at a similar development stage. Growth is rated Neutral, indicating the pipeline's potential is acknowledged but not yet translating into measurable business momentum.
Quality and Moat are both rated Weak, consistent with a company that has no commercial products and limited competitive entrenchment. Valuation is rated Elevated, meaning the market is pricing in significant future success.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does FDMT pay dividends?
No — 4D Molecular Therapeutics, Inc. does not currently pay a dividend.
FDMT does not pay a dividend, which is standard for clinical-stage biotechs. All available capital is directed toward advancing the gene therapy pipeline through clinical trials and research collaborations. Investors in companies like FDMT are typically seeking long-term value through pipeline milestones rather than income.
When does FDMT report earnings?
4D Molecular Therapeutics reports financial results on a quarterly cadence, consistent with US-listed public companies.
As a pre-revenue company, quarterly reports focus primarily on cash runway, operating expenses, and clinical trial progress rather than traditional revenue or profit metrics. Pipeline updates and collaboration milestones tend to drive market reaction more than headline financial figures.
For the most recent quarter's results and management commentary, visit 4D Molecular Therapeutics' investor relations page directly.
FDMT Price History
-63.3% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in 4D Molecular Therapeutics, Inc.?
Based on 4D Molecular Therapeutics, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
FDMT Long-term Outlook
The fundamental outlook for FDMT is shaped by clinical execution risk. With a Neutral Growth rating, the pipeline carries optionality but no near-term revenue certainty. The Good Risk rating suggests the company is not in immediate financial distress, but the Elevated Valuation means the stock already reflects meaningful optimism about future trial outcomes. Any setback in clinical data could weigh heavily on the share price.
Growth drivers
- Advancement of lead ophthalmology candidates through Phase 1/2 trials
- Potential milestone payments and expanded collaboration agreements
- Growing clinical and regulatory interest in AAV-based gene therapies
Key risks
- Clinical trial failure or safety signals in any lead program
- Elevated valuation leaves limited margin of safety if timelines slip
- Dependence on external funding and partner relationships to sustain operations
FDMT vs Peers
FDMT operates in a competitive clinical-stage biotech landscape alongside other small-cap companies pursuing novel therapeutic modalities.
ADC Therapeutics focuses on antibody-drug conjugates for hematologic cancers, a distinct modality from FDMT's AAV gene therapy approach.
Entrada Therapeutics pursues intracellular therapeutics using its FETCH platform, targeting muscle and other diseases through a different delivery mechanism than FDMT.
Relmada Therapeutics is focused on central nervous system disorders, making it a clinical-stage peer by stage but not by therapeutic area or technology.
Frequently Asked Questions
What does 4D Molecular Therapeutics do?
4D Molecular Therapeutics develops gene therapies using adeno-associated virus vectors. Its pipeline targets rare diseases across ophthalmology, cardiology, and pulmonology. The company is clinical-stage, meaning it has no approved products yet and is advancing multiple candidates through Phase 1/2 trials.
Does FDMT pay dividends?
No, FDMT does not pay a dividend. Clinical-stage biotechs typically reinvest all available capital into research and development. Investors in FDMT are generally focused on pipeline progress rather than income generation.
When does FDMT report earnings?
4D Molecular Therapeutics reports on a quarterly cadence. Because it is pre-revenue, reports center on operating expenses, cash position, and clinical updates rather than traditional earnings metrics. Check the company's investor relations page for the latest schedule.
Is FDMT a good stock to buy?
UQS Score rates FDMT as Poor overall. The rating reflects weak Quality and Moat scores alongside an Elevated Valuation. The Risk pillar is the relative strength. Whether FDMT fits a portfolio depends on an investor's risk tolerance and view on gene therapy timelines. The full pillar breakdown is available to Pro members.
Is FDMT overvalued?
UQS Score rates FDMT's Valuation as Elevated, meaning the current market price appears to price in significant future success from its clinical pipeline. For a pre-revenue company, this leaves limited buffer if trial results disappoint or timelines extend.
How does FDMT compare to its competitors?
FDMT competes in the broader clinical-stage biotech space alongside companies like ADC Therapeutics, Entrada Therapeutics, and Relmada Therapeutics. Each pursues different therapeutic modalities and disease areas. FDMT is differentiated by its AAV vector platform and focus on ophthalmology, cardiology, and pulmonology.
What is FDMT's market cap bracket?
FDMT is classified as a small-cap company. This is typical for clinical-stage gene therapy companies that have not yet commercialized a product. Small-cap biotechs can carry higher volatility relative to large-cap peers in the healthcare sector.
Who founded 4D Molecular Therapeutics?
4D Molecular Therapeutics was founded in 2013 and is headquartered in Emeryville, California. Detailed founding history and leadership background are publicly available through the company's official website and SEC filings.
Is FDMT a long-term quality investment?
As a long-term quality indicator, UQS Score rates FDMT as Poor. The Weak Quality and Moat scores reflect the absence of commercial revenue and durable competitive advantages at this stage. Long-term value depends heavily on whether pipeline candidates achieve regulatory approval. Pro members can view the complete pillar analysis.
What is the main competitive advantage of 4D Molecular Therapeutics?
The company's core differentiator is its proprietary AAV vector engineering platform, which it uses to design gene therapies with targeted tissue delivery. Research collaborations with partners like Roche and uniQure also provide external validation of the platform's potential.
What sector does FDMT belong to?
FDMT operates in the Healthcare sector, specifically within the gene therapy and biotechnology subsegment. It is a clinical-stage company, meaning it is earlier in its development lifecycle than commercial-stage healthcare peers.
Is FDMT a growth stock or value stock?
Based on its UQS profile, FDMT carries a Neutral Growth rating and an Elevated Valuation rating. This combination suggests the market is pricing in future growth potential, but that growth has not yet materialized in measurable financial results — a profile more common in speculative growth investing than value investing.
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Pro Analysis
FDMT — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| Apr 2, 2026 | 26.9 | 5.8 | 14.0 | 54.8 | 73.0 | 0.0 | — |
FDMT — Pillar Breakdown
Quality
— 5.8/100 (25%)4D Molecular Therapeutics, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 54.8/100 (20%)4D Molecular Therapeutics, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Risk
— 72.6/100 (15%)4D Molecular Therapeutics, Inc. maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 0.0/100 (15%)4D Molecular Therapeutics, Inc. appears expensively valued relative to its fundamentals and growth prospects.
Moat
— 14/100 (25%)4D Molecular Therapeutics, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for FDMT.
Score Composition
Financial Data
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How is the FDMT UQS Score Calculated?
The UQS (Unified Quality Score) for 4D Molecular Therapeutics, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses 4D Molecular Therapeutics, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether 4D Molecular Therapeutics, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.