4D Molecular Therapeutics (FDMT) TD Cowen 46th Annual Health Care Conference summary

Strategic focus and pipeline overview

• Primary focus is on 4D-150, a gene therapy in phase III for wet AMD, with plans to initiate a phase III trial for diabetic macular edema (DME) later this year.

• Additional assets in pulmonology (4D-710 and 4D-725) are fully funded through external grants.

• Emphasis on developing gene therapies for large market diseases with broad commercial potential and simple delivery mechanisms.

Product profile and differentiation

• 4D-150 uses a proprietary R100 capsid for robust, multi-layer retinal delivery, enabling lower doses and reduced inflammation.

• Designed for in-office IVT administration, with a predictable steroid taper and potential for lifelong disease control.

• Aims to significantly reduce treatment burden compared to current bolus anti-VEGF therapies.

Market landscape and unmet needs

• Sustained efficacy and durability remain the top unmet needs among retina specialists, with gene therapy seen as the most exciting pipeline development.

• Incremental improvements in durability have driven blockbuster sales for existing therapies, but a paradigm shift is needed.