“4DMT continues to advance our diverse pipeline of product candidates that utilize our targeted and evolved vectors invented through Therapeutic Vector Evolution. Over this past quarter we released promising initial clinical data on three programs, including on 4D-310 for Fabry disease,” said
Recent Operational Highlights
- Provided clinical data updates on 3 programs, including first-ever clinical activity data from two 4DMT targeted and evolved vectors: C102 for systemic low dose cardiovascular delivery and R100 for routine intravitreal delivery.
- Phase 1/2 data from the C102-product candidate 4D-310 for Fabry disease, which demonstrated AGA enzyme activity that was within, or significantly above, the normal range in all three patients (up to 25-fold above mean normal AGA activity) including patients with high titer antibodies to AGA. In addition, 4D-310 had a manageable safety profile, without dose-limiting toxicity.
- Phase 1/2 data from the R100-based gene therapies 4D-125 for XLRP and 4D-110 for choroideremia, which demonstrated both intravitreal product candidates were well tolerated at planned doses and were associated with signs of clinical activity, including reduced photoreceptor loss by ellipsoid zone area and reduced retinal pigment epithelium loss by fundus autofluorescence (4D-110). 4DMT expects to continue enrollment at the 1E12 vg/eye dose level for 4D-125 and at the 3E11 vg/eye dose level for 4D-110.
- Phase 1/2 data from the C102-product candidate 4D-310 for Fabry disease, which demonstrated AGA enzyme activity that was within, or significantly above, the normal range in all three patients (up to 25-fold above mean normal AGA activity) including patients with high titer antibodies to AGA. In addition, 4D-310 had a manageable safety profile, without dose-limiting toxicity.
- In
October 2021 , 4DMT announced the pricing of a public offering of common stock with expected total gross proceeds of approximately$119 million , before deducting underwriting discounts, commissions and other offering expenses. - Received clearance from the
U.S. Food and Drug Administration (FDA) for the 4DMT Investigational New Drug (IND) Applications for the Phase 1/2 clinical trials of 4D-150 for wet age-related macular degeneration (wet AMD) and of 4D-710 for cystic fibrosis. - Received clearance from the
Taiwan Food and Drug Administration for the 4DMT Investigational New Drug (IND) Application for the Pacific Rim Phase 1/2 clinical trial of 4D-310 for Fabry disease. 4DMT also announced that this clinical trial is designed to include cardiac biopsies post-treatment to assess 4D-310 delivery to the heart.
Expected Upcoming Milestones
- Interim clinical data from the Phase 1/2 clinical trial of 4D-310 in Fabry disease expected in 2022
- First patient dosing in the 4D-150 Phase 1/2 clinical trial for wet AMD expected in the first quarter of 2022
- First patient dosing in the 4D-710 Phase 1/2 clinical trial for cystic fibrosis expected in the first half of 2022
- Continued enrollment in both the 4D-125 for x-linked retinitis pigmentosa and 4D-110 for choroideremia Phase 1/2 clinical trials
Financial Results for the Third Quarter Ended
Cash and
Revenue: Total revenue was
R&D Expenses: Research and development expenses were
G&A Expenses: General and administrative expenses were
Net Loss: Net loss was
About 4DMT
4DMT is a clinical-stage company harnessing the power of directed evolution for targeted gene therapies. 4DMT seeks to unlock the full potential of gene therapy using its platform, Therapeutic Vector Evolution, which combines the power of directed evolution with approximately one billion synthetic capsid sequences to invent evolved vectors for use in targeted gene therapy products. The company is initially focused in three therapeutic areas: ophthalmology, cardiology, and pulmonology. The 4DMT targeted and evolved vectors are invented with the goal of being delivered through clinically routine, well-tolerated and minimally invasive routes of administration, transducing diseased cells in target tissues efficiently, having reduced immunogenicity and, where relevant, having resistance to pre-existing antibodies. 4DMT is currently advancing five product candidates in clinical development: 4D-310 for Fabry disease, 4D-150 for wet AMD, 4D-125 for XLRP, 4D-710 for cystic fibrosis and 4D-110 for choroideremia. 4D Molecular Therapeutics™, 4DMT™, Therapeutic Vector Evolution™, and the 4DMT logo are trademarks of 4DMT.
4D-310, 4D-125 and 4D-110 are in clinical trials and have not yet been approved for marketing by the
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements regarding plans and timelines for the clinical development of 4D-310, 4D-125, 4D-110, 4D-150 and 4D-710, including the therapeutic potential and clinical benefits thereof; the estimated timing of clinical data being available for 4D-310’s Phase 1/2 clinical trial; the estimated timing of initiating the clinical trials for 4D-150 and 4D-710; expectations for continued enrollment in the clinical trials for 4D-110 and 4D-125; expectations on how long our cash and cash equivalents can fund operations; expectations regarding current and future interactions with the
Condensed Statements of Operations (Unaudited)
(in thousands, except share and per share amounts)
Three Months Ended | Nine Months Ended | |||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||
Revenue: | ||||||||||||||||
Collaboration and license revenue | $ | 1,366 | $ | 7,421 | $ | 17,946 | $ | 14,340 | ||||||||
Collaboration and license revenue, related parties | — | — | — | 249 | ||||||||||||
Total revenue | 1,366 | 7,421 | 17,946 | 14,589 | ||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | 15,840 | 11,555 | 43,832 | 40,433 | ||||||||||||
General and administrative | 8,187 | 3,682 | 20,683 | 10,398 | ||||||||||||
Total operating expenses | 24,027 | 15,237 | 64,515 | 50,831 | ||||||||||||
Loss from operations | (22,661 | ) | (7,816 | ) | (46,569 | ) | (36,242 | ) | ||||||||
Other income (expense): | 422 | (17 | ) | 335 | 96 | |||||||||||
Net loss | $ | (22,239 | ) | $ | (7,833 | ) | $ | (46,234 | ) | $ | (36,146 | ) | ||||
Net loss per share attributable to common stockholders, basic and diluted | $ | (0.82 | ) | $ | (1.51 | ) | $ | (1.72 | ) | $ | (6.97 | ) | ||||
Weighted-average shares outstanding used in computing net loss per share attributable to common stockholders, basic and diluted | 27,022,380 | 5,197,982 | 26,818,595 | 5,188,628 |
Condensed Balance Sheet Data
(Unaudited)
(in thousands)
2021 | 2020 | |||||||
Cash and cash equivalents | $ | 90,989 | $ | 276,726 | ||||
Marketable securities | 136,180 | — | ||||||
Working capital | 154,360 | 265,912 | ||||||
Total assets | 240,618 | 288,331 | ||||||
Accumulated deficit | (181,913 | ) | (135,679 | ) | ||||
Total stockholders’ equity | 224,134 | 256,387 |
Contacts:
Media:
Chief Business Officer
czimmermann@4dmt.com
Investors:
VP, Investor Relations
mzanoni@4dmt.com
Source:
2021 GlobeNewswire, Inc., source