4D-150 - (PRISM)

May 7, 2026: 4D Molecular Therapeutics (NASDAQ: FDMT) reported Q1 2026 results and outlined upcoming clinical catalysts across its pipeline.

4D-150 (wet age-related macular degeneration, wet AMD):

• 4FRONT-1 (North America Phase 3): enrollment completed Feb 2026; randomization completed March 2026 (N=523). Topline data expected in H1 2027.
• 4FRONT-2 (global Phase 3): enrollment completion expected H2 2026; topline data expected H2 2027.
• PRISM (Phase 1/2): Phase 2b 2-year data expected to be presented at a scientific conference in Q3 2026.

4D-150 (diabetic macular edema, DME):

• SPECTRA: 2-year data expected in H2 2026.
• Global Phase 3: trial design expected mid-2026; initiation expected Q3 2026.

4D-710 (cystic fibrosis): AEROW Phase 1/2 clinical trial and program update expected H2 2026.

4D-175 (geographic atrophy): active IND maintained; company evaluating strategic funding alternatives to advance into the clinic.

Financials/cash runway: cash, cash equivalents and marketable securities were $458M as of March 31, 2026; runway expected into the second half of 2028 (including expected payments under an Otsuka collaboration). Q1 net loss was $68.8M.