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4D MOLECULAR THERAPEUTICS, INC.

(FDMT)
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4D Molecular Therapeutics Gets Termination Notice From Roche

06/24/2021 | 09:26am EDT

By Chris Wack

4D Molecular Therapeutics Inc. said it received a notice of termination of the collaboration and license agreement by 4D-110 licensee Roche resulting in full rights to 4D-110 for choroideremia reverting to 4D Molecular.

The company said Roche requested that 4D Molecular end the Roche-funded 4D-110 trial in advanced choroideremia patients as a result of Roche's assessment of a change in the risk-benefit profile.

Roche sent a notice of termination without cause effective Sept. 16, with 4D Molecular regaining full rights to 4D-110.

4D Molecular said it hasn't changed its position on the potential of 4D-110 for choroideremia, and intends to continue clinical development. The company said it plans to submit to the Food and Drug Administration safety and efficacy data from the completed Phase 1 clinical trial along with a new clinical study protocol as soon as possible.

The company said it will conclude the Roche-funded clinical trial under the collaboration and plans to subsequently transfer previously treated patients onto a company-sponsored long-term follow-up study to continue monitoring biologic activity endpoints, safety and tolerability.

4D Molecular Therapeutics shares were down 7% to $23 in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

06-24-21 0925ET

Stocks mentioned in the article
ChangeLast1st jan.
4D MOLECULAR THERAPEUTICS, INC. 0.33% 24.57 Delayed Quote.-40.72%
DJ INDUSTRIAL 0.68% 35061.55 Delayed Quote.13.78%
ROCHE HOLDING AG 1.24% 347.3 Delayed Quote.12.39%
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Financials (USD)
Sales 2021 5,07 M - -
Net income 2021 -75,0 M - -
Net cash 2021 447 M - -
P/E ratio 2021 -8,93x
Yield 2021 -
Capitalization 657 M 657 M -
EV / Sales 2021 41,5x
EV / Sales 2022 0,31x
Nbr of Employees 88
Free-Float 76,7%
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Number of Analysts 3
Last Close Price 24,57 $
Average target price 52,33 $
Spread / Average Target 113%
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Managers and Directors
David H. Kirn President, Chief Executive Officer & Director
August J. Moretti Chief Financial Officer
John F. Milligan Executive Chairman
Melissa Kotterman Vice President-Discovery & Engineering
Fred Kamal Chief Operating & Technical Officer
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