4D Molecular Therapeutics (FDMT) Bank of America Global Healthcare Conference 2026 summary

Company overview and pipeline progress

• Focus on next-generation AAV gene therapy with lead asset 4D-150 in phase III for wet AMD and soon for DME.

• Phase III enrollment for wet AMD has been rapid, with strong enthusiasm from patients and physicians.

• Key catalysts: mid-year two-year phase II wet AMD update, second half DME update, phase III readouts in first and second half of next year.

• Surveys indicate high physician excitement for 4D-150 and gene therapy in retina diseases.

Market landscape and product differentiation

• Wet AMD market valued at ~$17B globally, expected to grow with aging population.

• Existing therapies are efficacious but require frequent injections, creating a significant treatment burden.

• 4D-150 aims for lifelong therapy with a single injection, potentially eliminating or greatly reducing future treatments.

• Product is intravitreal, offering commercial and safety advantages over subretinal competitors.

• Safety profile is highly favorable, with minimal inflammation and no significant adverse events reported.

Clinical data and physician perspectives

• Phase I/II data show 80-90% reduction in treatment burden and over 70% of patients injection-free at 18 months.

• Safety remains strong, with less than 3% experiencing minor, transient inflammation.

• Physicians prioritize safety and meaningful reduction in treatment burden; no strict thresholds but high expectations for gene therapy.

• Durability modeled at 3-5 years for market purposes, though therapy may last longer.