H.C. Wainwright starts coverage of 4D Molecular with 'buy'

4D Molecular Therapeutics

18/11/2022 13:25

** H.C. Wainwright optimistic on 4D Molecular Therapeutics
Inc's  FDMT.O  gene therapy platform and clinical trial
pipeline; starts coverage with "buy" rating and $36 PT
    ** Brokerage says company's platform for gene therapy, which
uses proprietary adeno-associated virus as vectors could define
a paradigm shift in available therapies in treating wet
age-related macular degeneration (WAMD)
    ** WAMD is an eye disorder that causes blurred vision or
blind spots in the visual field, generally caused by abnormal
blood vessels leaking blood into the retina
    ** The gene therapy platform has multiple opportunities for
optimized vector targeting in treating eye, heart and lung
diseases with initial clinical data from trials supporting the
view - brokerage
    ** Brokerage sees peak market sales $788.8 mln and $11.8 mln
for company's early-to-mid-stage candidates 4D-150 and 4D-310 in
treating wAMD and Fabry disease, if approved
    ** Fabry disease is a rare genetic disease and can cause
symptoms including pain in hands and feet
    ** Brokerage also anticipates FDMT's cash and equivalents to
fund operations into first half of 2025
    ** As of last close, company's shares up 2.10% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com))