2024-07-20 09:37:01 ET
Summary
- 4D Molecular Therapeutics' share price fell by over 15% in response to its latest data readout related to Wet-AMD therapy 4D-150.
- Investors reacted negatively to the news, which may be surprising as it seemed to confirm a positive treatment effect and drastically reduce the number of injections required.
- Eylea - Regeneron's ~$8bn per annum selling drug - is the current standard of care, but this drug requires frequent injections - 4D's gene therapy has "one and done" potential.
- There are multiple competing candidates in this space - Adverum also read out positive Phase 2 data this week.
- Regeneron's longer-acting Eylea HD has also been launched recently - the advantages of 4D-150 must be established beyond doubt in the Phase 3 study, but that is in doubt - I am on the sidelines.
Investment Overview
The share price of 4D Molecular Therapeutics ( FDMT ) fell by >15% yesterday, in response to the company's sharing of data from its Phase 2 PRISM study of lead candidate 4D-150, a gene therapy indicated for the treatment of wet age-related macular degeneration ("Wet-AMD").
Wall Street's reaction to the data was at odds with 4D's management - speaking on a call with analysts, CEO David Kim commented that the data:
confirms and expands 4D-150's potential as a pipeline in a product with multiple potential multibillion-dollar ophthalmology market opportunities, including wet AMD, DME and diabetic retinopathy. This data also confirms our strong conviction in the 4D-150 Phase III program in wet AMD.
Read the full article on Seeking Alpha
For further details see:
4D Molecular Therapeutics: Yesterday's Wet-AMD Data Given Thumbs Down By Market