4D Molecular Therapeutics reported its financial results for the third quarter of 2024 on November 13, 2024, alongside operational highlights and upcoming milestones. The company announced a net loss of $43.8 million for the quarter, an increase from a net loss of $10.3 million in the third quarter of 2023. This rise in losses is primarily attributed to increased research and development expenditures.
Research and development expenses for the third quarter of 2024 were $38.5 million, up from $25.1 million in the prior-year period. This increase was driven by the progression of existing clinical trials, particularly the Phase 2 4D-150 trials in wet AMD and DME, as well as higher payroll and stock-based compensation due to increased headcount. General and administrative expenses also rose to $12.7 million from $9.1 million in the same period of 2023.
Despite the increased expenses, 4DMT maintained a strong cash position, with cash, cash equivalents, and marketable securities totaling $551 million as of September 30, 2024. Management projects this capital is sufficient to fund planned operations at least into the first half of 2027. The company also reiterated its expectation to initiate the 4FRONT Phase 3 program in the first quarter of 2025.
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