This increase was primarily due to increased payroll and stock-based compensation expense, business insurance expense and professional service expenses. G&A Expenses: General and administrative expenses were $7.0 million for the quarter ended June 30, 2021, as compared to $3.1 million for the quarter ended June 30, 2020. This decrease was primarily driven by decreased external manufacturing expense, which was partially offset by increased preclinical and clinical trial expense and payroll and stock-based compensation expense. R&D Expenses: Research and development expenses were $15.2 million for the quarter ended June 30, 2021, as compared to $15.7 million for the quarter ended June 30, 2020. The increase was primarily driven by increased revenue recognized under the Roche collaboration agreement as a result of adjustments to the transaction price and total budgeted costs due to the termination of the agreement which will become effective in the third quarter of 2021. Revenue: Total revenue was $14.6 million for the quarter ended June 30, 2021, as compared to $3.6 million for the quarter ended June 30, 2020. We expect cash and cash equivalents to be sufficient to fund operations into the second half of 2023. Initiation of a clinical trial with 4D-710 in cystic fibrosis lung disease expected in the fourth quarter of 2021įinancial Results for the Second Quarter Ended June 30, 2021Ĭash and Cash Equivalents: Cash and cash equivalents were $243.7 million as of June 30, 2021. We remain on track to announce clinical data from each of our three ongoing clinical programs and to initiate clinical development with product candidates in wet AMD and cystic fibrosis by the end of this year.” In addition, we enhanced our leadership team with the additions of Carolyne Zimmermann as Chief Business Officer and Nadine Greiner, Ph.D., as Chief Human Resources Officer. This achievement underscores the promise of our Therapeutic Vector Evolution platform, which empowers us to invent targeted and evolved vectors that package efficiently during our proprietary manufacturing process. Notably, we believe we are the first AAV gene therapy company to successfully complete cGMP manufacturing of primate-evolved targeted vectors, and we achieved this milestone with three different clinical product candidates. “Importantly, we initiated the expansion of our cGMP manufacturing facilities to support commercial-scale production of our clinical product candidates. “Harnessing the power of directed evolution to develop targeted gene therapies is central to 4DMT, and this past quarter we continued to make substantial progress towards our goal,” said David Kirn, M.D., Co-founder and Chief Executive Officer of 4DMT. SWFI is a minority-owned organization.4D Molecular Therapeutics Reports Financial Results for the Second Quarter of 2021 and Provides Operational HighlightsĮmeryville, CA – Aug– 4D Molecular Therapeutics (Nasdaq: FDMT), a clinical-stage gene therapy company harnessing the power of directed evolution for targeted gene therapies, announced financial results for the second quarter of 2021, and provided operational highlights. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. ![]() Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. All material subject to strictly enforced copyright laws. No affiliation or endorsement, express or implied, is provided by their use. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. ![]() Sovereign Wealth Fund Institute® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. © 2008-2023 Sovereign Wealth Fund Institute.
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