4D Molecular soars as mid-stage data for eye disease therapy 'checks all boxes'

4D Molecular Therapeutics

05/02/2024 17:36

Feb 5 (Reuters) - Shares of 4D Molecular Therapeutics
 FDMT.O  more than doubled on Monday after the therapy developer
reported results from a mid-stage trial of its eye disease
therapy.
    The stock hit an over two-year high of $35.61 after the
company released interim data on Saturday from the trial that
tested the gene therapy, 4D-150, in patients with wet
age-related macular degeneration (AMD), a leading cause of
vision loss among older adults.
    Wet AMD is a long-lasting disorder that causes blurred
vision or a blind spot in the central vision due to fluid or
blood leaking into the macula.
   4D Molecular's therapy was tested in 51 patients with severe
disease that leads to thicker retinas, resulting in a high
treatment burden as the patients have to depend on frequent
injections such as Regeneron Pharmaceuticals'  REGN.O  Eylea.
    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, RBC Capital Markets analyst Lisa Walter said
"you could not ask for a much better result."
    In 4D Molecular's trial, the high dose version of the
therapy showed 89% reduction in standard-of-care injections,
while 63% were injection-free through 24 weeks.
    The data "checks all the boxes" said Walter.
    An estimated 19.8 million Americans aged 40 and older were
living with age-related macular degeneration, according to data
from the Centers for Disease Control and Prevention, of which
1.49 million were at a risk of losing their vision.
    Adverum  ADVM.O  and Regenxbio  RGNX.O  are also developing
gene therapies for the disease, but BMO Capital Markets analyst
Kostas Biliouris said Adverum's therapy has safety concerns,
while the administration of Regenxbio's therapy is not
convenient.
    "In gene therapy, I see (4D Molecular) is the most viable
player."
    4D Molecular expects to start late-stage trial in the first
quarter of 2025.

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