FDMT Stock Gains Pre-Market After Positive Study Data For Experimental Drug In Eye Disease

• 4D-150 demonstrated consistent and durable benefits in patients with wet age-related macular degeneration in the study. 
• The company is currently enrolling patients into late-stage trials for the drug.
• Enrollment is continuing ahead of initial projections, CEO David Kirn said.
   

4D Molecular Therapeutics (FDMT) announced on Thursday that its experimental drug 4D-150 demonstrated consistent and durable benefits in patients with wet age-related macular degeneration in an early-to-mid-stage trial.

Wet age-related macular degeneration (AMD) is an advanced form of macular degeneration where abnormal blood vessels grow in the retina, leak fluid or blood, and cause a rapid decline in central vision. The proliferation and leakage of abnormal blood vessels is stimulated by vascular endothelial growth factor (VEGF), a protein that promotes the growth of new blood vessels. According to 4D, the disease has a high incidence, with 200,000 individuals estimated to be newly diagnosed every year in the U.S. alone.

Study Findings

4D-150 showed maintenance of visual acuity and control of retinal anatomy in the study, the company said. The study also reduced treatment burden as patients maintained a consistent and clinically meaningful reduction in supplemental injections in 6-month intervals following dosing with 4D-150 through up to two years of follow-up, it added.

4D-150 was further well tolerated with no new safety or intraocular inflammation findings. The drug is aimed at providing multi-year, and potentially lifelong, sustained delivery of anti-VEGF from the retina with a single, safe, intravitreal injection. Anti-VEGF is a treatment that blocks the action of the vascular endothelial growth factor.

The company is currently enrolling patients into late-stage trials for the drug. Enrollment is continuing ahead of initial projections, according to CEO David Kirn.

“With the robust PRISM dataset and our APAC region strategic partnership with Otsuka announced last week, we are well positioned for global success in our Phase 3 4FRONT clinical trials, which continue to enroll ahead of initial projections,” he added.  

How Did Stocktwits Users React?

Shares of the company soared 13% in the pre-market session at the time of writing. On Stocktwits, retail sentiment regarding FDMT stock remained within the ‘bullish’ territory, while message volume remained at ‘high’ levels over the past 24 hours.

FDMT stock is up 89% this year and approximately 26% over the past 12 months. 

Also See: DuPont Announces $2 Billion Share Buyback: Why Did The Stock Tumble 7% Today?

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