4D Molecular Shares Rise on FDA Designation for Wet AMD Drug

By Dean Seal

Shares of 4D Molecular Therapeutics rose after federal regulators granted regenerative medicine advanced therapy designation to its treatment for wet age-related macular degeneration.

The stock was up 5.7% at $20.13 in midday trading. Shares are still down about 9% year-to-date.

The clinical-stage biotherapeutics company said Thursday that the Food and Drug Administration granted the so-called RMAT designation to 4D-150 for intravitreal treatment of wed AMD.

The designation is based on 4D-150's potential to address unmet medical needs, the company said.

Chief Executive David Kirn said this was the first RMAT designation for an investigational treatment for wet AMD.

Write to Dean Seal at [e-mail]

(END) Dow Jones Newswires

12-21-23 1216ET