4D Molecular gains on interim data from mid-stage study of eye disease drug

4D Molecular Therapeutics

05/02/2024 11:00

** Shares of drug developer 4D Molecular Therapeutics
 FDMT.O  rise 28.13% to $22.30 premarket
    ** Co late on Saturday announced interim data from mid-stage
trial studying its eye disease drug 4D-150 in wet age-related
macular degeneration patients with severe disease activity and
high treatment burden as they are dependent on anti-VEGF
injections
    ** High dose version of 4D-150 resulted in 89% reduction in
injections, 63% were injection-free through 24 weeks
    ** Co expects to start late-stage trial in Q1 2025
    ** The results "checks all the boxes"- Brokerage RBC
    ** RBC says in the context of a severe patient population
whose retinal thickness is 1.6 times above normal despite 10
prior injections over the last year, one could not ask for a
much better result
   ** The data renders 4D-150 competitive, positioning it for
commercial success- Brokerage BMO Capital Markets
    ** Up to last close, stock fell ~24% in the last 12 months

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))