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Advancing the Development of AVD-104, a Novel Glyco-Mimetic Nanoparticle for the Treatment of Geographic Atrophy from Macular Degeneration Recent Data Presented at Healthcare Congresses Highlight Clinical Progress of the Use of Novel Sialic Acid–Coated Nanoparticles CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Aviceda Therapeutics, a private clinical-stage biotech company focused on developing next-generation immunomodulators by harnessing the power of glycobiology to alleviate chronic, non-resolving inflammation, announced today that enrollment in part 1 of the SIGLEC Phase 2/3 U.S. clinical trial is complete and the Company is preparing to shortly initiate part 2. Aviceda’s lead candidate, AVD-104, is an engineered glycan (sialic acid) nanoparticle that targets the self-pattern recognition receptors on overly activated retinal immune cells, specifically macrophages and microglia. By repolarizing these immune cells to a resolution state, AVD-104 effectively reduces inflammation. Additionally, it enhances the activity of complement factor H, a crucial regulator of the complement cascade, to better regulate overamplification of the alternative complement cascade. Mohamed Genead, M.D., Co-founder and CEO said, “We hope that AVD-104’s unique mechanism of action can provide GA patients with a safe treatment that offers improved efficacy compared to existing therapeutic options. We are excited by our data to date and look forward for our larger clinical trial to start next month.” The SIGLEC U.S. Phase 2/3 U.S. clinical trial is designed to evaluate the safety, pharmacokinetics, and treatment effects of single and multiple doses of intravitreal AVD-104 in participants with geographic atrophy secondary to age-related macular degeneration. Part 1 of the trial is a multi-center, open label safety and dose escalation study that enrolled 30 participants. Patients received a single intravitreal injection of AVD-104 and are being followed for 3 months for safety observation. Part 2 will be a multi-center, double masked, randomized trial to evaluate the treatment effect of AVD-104 against sham and an active comparator. Approximately 290 patients will be randomized across two AVD-104 groups, sham, or active comparator. Patients will receive injections of study drug for 12 months and will have the option to remain in the study for an additional 12 months. The primary endpoint will be the difference in the rate of growth of the GA area between treated participants versus sham at 12 months as measured by fundus autofluorescence. To learn more about the SIGLEC trial, click here. The full enrollment of all four cohorts in Part 1 was recently announced at The Retina Society annual meeting during a presentation about AVD-104 by David Chow, M.D. Further new and promising positive data from the SIGLEC trial will be presented at the upcoming Eyecelerator session at the American Academy of Ophthalmology meeting in November and other subsequent meetings in the coming months. “The results we have seen to date are consistent with our initial thesis around AVD-104’s mechanism and provide encouraging signals of efficacy,” said David Callanan, M.D., Aviceda Chief Medical Officer, and Senior Vice President “The study is led by globally renowned experts, and these data are paving the way for the upcoming part 2 SIGLEC U.S. clinical trial, which will begin enrolling in November.” About Aviceda Therapeutics and AVD-104 Aviceda is a private, late-stage clinical biotechnology company located in Cambridge, MA, with a proprietary HALOS™ nanotechnology platform and an Investigational New Drug–cleared ophthalmic lead product, AVD-104, for the treatment of geographic atrophy secondary to age-related macular degeneration and diabetic macular edema. AVD-104 is a promising intravitreal glycan-coated nanoparticle with a dual mechanism of action that modulates critical inflammatory cellular and complement pathways through 1) direct inhibition of the activity of damaging phagocytic macrophages and repolarization of activated macrophages to their resolution state and 2) inhibition of complement cascade amplification. AVD-104 has demonstrated robust in vitro/vivo efficacy with inhibition of both proinflammatory cellular and complement signaling pathways, and it has the potential for dosing every three months in humans. Outstanding safety has been demonstrated in multiple animal models, including non-human primates, in which no signs of drug-related intraocular inflammation were seen. AVD-104 has also shown significant anti-neovascular activity equivalent to that of aflibercept (Eylea) in a well-established ocular choroidal neovascularization animal model. Along with AVD-104, Aviceda has a broad pipeline of products in development in ophthalmology and multiple other therapeutic areas, including oncology, immunology neurology and fibrosis. Learn more about Aviceda Therapeutics.

Presented positive interim data from intravitreal 4D-150 Phase 1/2 PRISM clinical trial for patients with wet age-related macular degeneration (wet AMD) Completed target enrollment of 50 patients in the randomized Phase 2 Dose Expansion stage of the PRISM clinical trial in July, nearly two quarters ahead of initially projected enrollment completion Presented positive interim data from aerosolized 4D-710 Phase 1/2 AEROW clinical trial for patients with cystic fibrosis lung disease Anticipate multiple clinical data and regulatory interaction updates on lead clinical-stage product candidates 4D-150 in wet AMD and 4D-710 in cystic fibrosis lung disease over the next 12 months Entered license agreement with Astellas Pharma in July and received $20 million upfront with potential future milestones of up to $942.5 million, including potential near-term development milestones of $15 million for the initial target Strong balance sheet, closing the quarter with $310 million in cash, cash equivalents, and marketable securities, which includes net proceeds from upsized public offering of $138 million in common stock in May, expected to be sufficient to fund operations into the first half of 2026 EMERYVILLE, Calif., Aug. 09, 2023 (GLOBE NEWSWIRE) -- 4D Molecular Therapeutics (Nasdaq: FDMT, 4DMT, or the Company) a clinical-stage biotherapeutics company harnessing the power of directed evolution for genetic medicines targeting large market diseases, today reported second quarter 2023 financial results and provided operational highlights. “We are excited by the significant progress we have made across our large market product candidate portfolio in the second quarter,” said David Kirn, M.D., Co-founder and Chief Executive Officer of 4DMT. “In ophthalmology, we presented positive interim clinical data from the Dose Exploration stage of our Phase 1/2 PRISM clinical trial of 4D-150, which demonstrated excellent tolerability, clinical activity and initial long term durability in high anti-VEGF need patients that we believe support an emerging best-in-class profile. In pulmonology, we presented positive interim clinical data from cohort 1 from the 4D-710 Phase 1/2 AEROW clinical trial for the treatment of cystic fibrosis lung disease, demonstrating widespread and high-level CFTR transgene expression and initial clinical activity in a population who otherwise have no disease-modifying treatment options. Lastly, we continue to execute on business development, including the collaboration with Astellas in July, demonstrating the value of our clinically de-risked customized and evolved vectors for delivery of genetic medicine payloads. Our focus remains on relentlessly executing on our corporate objectives and look forward to sharing multiple key clinical and regulatory milestones over the next 12 months. Our strong cash position and capital-efficient operations continue to provide the foundation for long-term value creation.” Recent Highlights in Large Market Ophthalmology Portfolio Rapidly advanced 4D-150 in wet AMD Presented positive interim data from Dose Exploration stage with three dose cohorts (3E10, 1E10, and 6E9 vg/eye; n=5 each) at ARVO and ASRS 2023 Annual Meetings (data as of July 3, 2023): Well tolerated with no Grade ≥1 inflammatory cells, no vasculitis and no hypotony Dose response demonstrated in favor of high dose 3E10 vg/eye, including 100% reduction in supplemental anti-VEGF injections in 4 evaluable patients and reduction in mean central subfield thickness (CST) reduction at 36 weeks of follow-up Durable response beyond 1 year in 3E10 vg/eye dose cohort, with 3 of 4 evaluable patients injection-free at up to 80 weeks of follow-up Completed target enrollment of 50 patients in the randomized Phase 2 Dose Expansion stage of the PRISM clinical trial in July, nearly two quarters ahead of initial projections In April, acquired the rights and know-how for short-form complement factor H (sCFH) from Aevitas and announced sCFH as payload for 4D-175 product candidate for geographic atrophy (GA) Recent Highlights in Pulmonary Portfolio Presented positive interim clinical and lung biopsy biomarker data for 4D-710 in cystic fibrosis lung disease from all three dose level patients in the Phase 1/2 AEROW clinical trial at the ECFS 2023 Annual Meeting (data as of April 12, 2023): Meaningful improvement in cystic fibrosis-related quality of life measured by Cystic Fibrosis Questionnaire-Revised respiratory symptom score (CFQ-R-R) and improved or stabilized percent predicted FEV1 Bronchoscopy sample results demonstrated widespread and consistent CFTR transgene protein expression in 92-99% of lung airway cells with CFTR protein expression levels significantly above those in normal control lung tissues No post-dosing 4D-710–related adverse events, dose-limiting toxicities (DLTs) or severe adverse events (SAEs) Expected Upcoming Milestones 4D-150 for Wet AMD and DME: Phase 2 Dose Expansion (N=50) initial interim data expected in H1 2024 Update regarding Phase 3 pivotal trial plans expected in Q1 2024 after anticipated initial discussion with FDA in Q4 2023 First patient enrolled in Phase 2 SPECTRA clinical trial for DME expected in Q3 2023 Initial interim 4D-150 for DME Phase 2 data expected in 2024 4D-175 for GA: Program update expected in Q4 2023 IND filing expected in H1 2024 4D-710 for Cystic Fibrosis Lung Disease: Phase 1/2 Dose Exploration interim data (cohorts 1 & 2) at North American Cystic Fibrosis Conference (NACFC) expected in November 2023 Dose selection for and initiation of Phase 2 Dose Expansion stage expected in H2 2023 Update on development plan for modulator combination expected in Q4 2023 Update regarding FDA discussion on pivotal endpoints expected Q1 2024 after anticipated initial discussion with FDA in Q4 2023 4D-310 for Fabry Disease Cardiomyopathy: Program update expected in H2 2023 Interim clinical data with minimum follow-up of 12 months on all 6 patients treated to date (1E13 vg/kg dose level) expected in H1 2024 Financial and Corporate Highlights In May, closed an upsized underwritten public offering of our common stock including full exercise of underwriters’ option to purchase additional shares with gross proceeds of $138 million In July, announced a license agreement with Astellas under which Astellas gains rights to utilize 4DMT’s proprietary intravitreal retinotropic R100 vector for genetic targets implicated in rare monogenic ophthalmic diseases. 4DMT received $20 million upfront, and may receive potential future option fees and milestones of up to $942.5 million including potential near-term development milestones of $15 million for the initial target and mid-single digit to double-digit, sub-teen royalties on net sales of all licensed products Q2 2023 Financial Results Cash and Cash Equivalents and Marketable Securities: Cash and cash equivalents and marketable securities were $310 million as of June 30, 2023, as compared to $218 million as of December 31, 2022. The net change in cash was primarily a result of cash used in operations that was offset by approximately $129 million of net proceeds from our public offering of common stock completed in May. We also received a $20 million cash upfront payment from our license agreement with Astellas in July. We currently expect cash and cash equivalents, inclusive of net proceeds from the upfront payment from Astellas, to be sufficient to fund operations into the first half of 2026. R&D Expenses: Research and development expenses were $23.6 million for the quarter ended June 30, 2023 as compared to $20.4 million for the second quarter of 2022. This increase was driven by the progression of our existing clinical trials, primarily 4D-150 in wet AMD and DME, along with increased payroll and stock-based compensation expense due to higher headcount. G&A Expenses: General and administrative expenses were $8.8 million for the quarter ended June 30, 2023 as compared to $8.2 million for the second quarter of 2022. Net Loss: Net loss was $29.6 million for the quarter ended June 30, 2023, as compared to $28.1 million for the second quarter of 2022. About 4DMT 4DMT is a clinical-stage biotherapeutics company harnessing the power of directed evolution for genetic medicines targeting large market diseases. 4DMT seeks to unlock the full potential of genetic medicines using its proprietary invention platform, Therapeutic Vector Evolution, which combines the power of the Nobel Prize-winning technology, directed evolution, with approximately one billion synthetic AAV capsid-derived sequences to invent customized and evolved vectors for use in our product candidates. All of our vectors are proprietary to 4DMT and were invented at 4DMT, including the vectors utilized in our clinical-stage and preclinical pipeline product candidates: R100, A101, and C102. The Company is initially focused on five clinical-stage product candidates in three therapeutic areas for both rare and large market diseases: ophthalmology, pulmonology, and cardiology. The 4DMT customized and evolved vectors were invented with the goal of being delivered at relatively low doses 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-150 for wet AMD and DME, 4D-710 for cystic fibrosis lung disease, 4D-310 for Fabry disease cardiomyopathy, 4D-125 for XLRP, and 4D-110 for choroideremia. The 4D preclinical product candidates in development are: 4D-175 for geographic atrophy and 4D-725 for AATLD. 4D-150, 4D-710, 4D-310, 4D-125, and 4D-110 are our product candidates in clinical development and have not yet been approved for marketing by the US FDA or any other regulatory authority. No representation is made as to the safety or effectiveness of 4D-150, 4D-710, 4D-310, 4D-125, or 4D-110 for the therapeutic uses for which they are being studied. 4D Molecular Therapeutics™, 4DMT™, Therapeutic Vector Evolution™, and the 4DMT logo are trademarks of 4DMT. 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 the therapeutic potential, and clinical benefits of 4DMT’s product candidates, as well as the plans, announcements and related timing for the clinical development of our clinical and preclinical product candidates, and statements regarding our financial performance, results of operations and anticipated cash runway. The words "may," “might,” "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," “expect,” "estimate," “seek,” "predict," “future,” "project," "potential," "continue," "target" and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including risks and uncertainties that are described in greater detail in the section entitled "Risk Factors" in 4D Molecular Therapeutics’ most recent Quarterly Report on Form 10-Q to be filed on or about the date hereof as well as any subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent 4D Molecular Therapeutics' views only as of today and should not be relied upon as representing its views as of any subsequent date. 4D Molecular Therapeutics explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Our results for the quarter ended June 30, 2023 are also not necessarily indicative of our operating results for any future periods. 4D Molecular Therapeutics, Inc. Statements of Operations (Unaudited) (in thousands, except share and per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Collaboration and license revenue $ 239 $ 162 $ 538 $ 1,382 Operating expenses: Research and development 23,584 20,422 43,002 39,819 General and administrative 8,791 8,166 16,777 16,381 Total operating expenses 32,375 28,588 62,779 56,200 Loss from operations (32,136 ) (28,426 ) (62,241 ) (54,818 ) Other income (expense), net: 2,520 340 3,943 394 Net loss $ (29,616 ) $ (28,086 ) $ (58,298 ) $ (54,424 ) Net loss per share, basic and diluted $ (0.77 ) $ (0.87 ) $ (1.63 ) $ (1.69 ) Weighted-average shares outstanding used in computing net loss per share, basic and diluted 38,429,934 32,324,392 35,709,614 32,263,015 4D Molecular Therapeutics, Inc. Balance Sheet Data (Unaudited) (in thousands) June 30, December 31 2023 2022 Cash and cash equivalents and marketable securities $ 310,343 $ 218,462 Working capital 304,027 204,780 Total assets 352,035 261,846 Total liabilities 27,359 30,509 Accumulated deficit (372,788 ) (314,490 ) Total stockholders’ equity 324,676 231,337 Contacts: Media: Katherine Smith Evoke Canale Katherine.Smith@evokegroup.com Investors: Julian Pei Head of Investor Relations and Corporate Communications Investor.Relations@4DMT.com 267-644-5097

Presented positive interim data from intravitreal 4D-150 Phase 1/2 PRISM clinical trial for wet age-related macular degeneration (wet AMD) at the 2023 ARVO Annual Meeting On track for completion of enrollment of the Phase 2 Dose Expansion Stage of the PRISM clinical trial in Q3 Acquired all worldwide rights to short-form human complement factor H (sCFH) from Aevitas Therapeutics, Inc. and announced sCFH as payload for 4D-175 lead product candidate for geographic atrophy (GA) Multiple additional clinical data updates on clinical-stage product candidates expected later in 2023, including on 4D-710 for cystic fibrosis lung disease in Q2 2023 Closed upsized public offering of common stock including full exercise of underwriters’ option to purchase additional shares with total gross proceeds of $138 million Cash, cash equivalents and marketable securities inclusive of net proceeds from the public offering expected to be sufficient to fund operations into the first half of 2026 EMERYVILLE, Calif., May 10, 2023 (GLOBE NEWSWIRE) -- 4D Molecular Therapeutics (Nasdaq: FDMT, 4DMT, or the Company) a clinical-stage biotherapeutics company harnessing the power of directed evolution for genetic medicines targeting large market diseases, today reported first quarter 2023 financial results and provided operational highlights. “We are pleased with the progress of our large market ophthalmology portfolio this year. In April at ARVO, we released positive interim clinical data on all three dose cohorts in the Dose Exploration stage of our Phase 1/2 PRISM clinical trial of 4D-150 for the treatment of wet AMD. We observed excellent tolerability and clinical activity in these high anti-VEGF need patients that we believe support a differentiated profile. We are excited to see faster than expected enrollment of the Phase 2 Dose Expansion stage of the PRISM trial and believe this highlights the belief by investigators that 4D-150 has potential to be a transformative treatment for patients with wet AMD. We also announced the acquisition of the rights and know-how for sCFH from Aevitas for use in our preclinical product candidate 4D-175 for treatment of GA,” said David Kirn, M.D., Co-founder and Chief Executive Officer of 4DMT. “We believe we have the opportunity to build a franchise in large market ophthalmology with 4D-150 for the treatment of wet AMD and diabetic macular edema (DME) and 4D-175 in for GA, each using our retinotropic vector R100. Our capital-efficient operations and strong cash position are expected to support operations into the first half of 2026.” Recent Highlights in Large Market Ophthalmology Portfolio Significant progress advancing the 4D-150 program for the intravitreal treatment of patients with wet AMD and with DME Presented positive interim data from the three dose cohorts studied (3E10, 1E10, and 6E9 vg/eye; n=5 each) in the Dose Exploration stage of the Phase 1/2 PRISM clinical trial for wet AMD in April at the ARVO 2023 Conference All three doses were well-tolerated and demonstrated clinical activity Dose response observed in favor of 3E10 vg/eye vs lower doses of 1E10 and 6E9 vg/eye In the 3E10 vg/eye cohort, 4 of 4 (100%) of Phase 2 BCVA-eligible patients remained injection-free at 36 weeks with a mean reduction in central subfield thickness (CST) of 72µm Enrollment in Phase 2 Dose Expansion (n=50) stage of the PRISM is more than 50% completed Acquired the rights and know-how for sCFH from Aevitas Therapeutics, Inc. and announced sCFH as payload for 4D-175 product candidate for GA Expected Upcoming Milestones 4D-150 for Wet AMD and DME: Enrollment of the Phase 2 randomized Dose Expansion stage of the PRISM clinical trial expected to complete in Q3 2023 Initial interim 4D-150 for wet AMD Phase 2 data expected in H1 2024 Enrollment of the Phase 2 SPECTRA clinical trial for DME expected to begin in Q3 2023 Initial interim 4D-150 for DME Phase 2 data expected in H1 2024 4D-175 for GA: Program update expected in Q4 2023 4D-710 for Cystic Fibrosis Lung Disease: Interim data from the Dose Exploration stage of the Phase 1/2 AEROW clinical trial expected to be presented at a scientific conference in Q2 2023 Update on development plan for modulator combination expected in 2H 2023 4D-310 for Fabry Disease Cardiomyopathy: Program update expected in 2H 2023 Q1 2023 Financial Results Cash and Cash Equivalents and Marketable Securities: Cash and cash equivalents and marketable securities were $202 million as of March 31, 2023, as compared to $218 million as of December 31, 2022. The decrease in cash was primarily a result of cash used in operations, which was partially offset by $9.6M of net proceeds from the sale of shares pursuant to our Open Market Sales Agreement. In addition, in May 2023 we completed a public offering of common stock that resulted in us receiving net proceeds of approximately $129 million. We currently expect cash and cash equivalents, inclusive of net proceeds from the May 2023 offering, to be sufficient to fund operations into the first half of half of 2026. R&D Expenses: Research and development expenses were $22.4 million for the quarter ended March 31, 2023 as compared to $19.4 million for the first quarter of 2022. This increase was driven by the progression of our existing clinical trials, primarily 4D-150, along with increased payroll and stock-based compensation expense. G&A Expenses: General and administrative expenses were $8.0 million for the quarter ended March 31, 2023 as compared to $8.2 million for the first quarter of 2022. Net Loss: Net loss was $28.7 million for the quarter ended March 31, 2023, as compared to $26.3 million for the first quarter of 2022. About 4DMT 4DMT is a clinical-stage biotherapeutics company harnessing the power of directed evolution for genetic medicines targeting large market diseases. 4DMT seeks to unlock the full potential of genetic medicines using its proprietary invention platform, Therapeutic Vector Evolution, which combines the power of the Nobel Prize-winning technology, directed evolution, with approximately one billion synthetic AAV capsid-derived sequences to invent customized and evolved vectors for use in our product candidates. All of our vectors are proprietary to 4DMT and were invented at 4DMT, including the vectors utilized in our clinical-stage and preclinical pipeline product candidates: R100, A101, and C102. The Company is initially focused on five clinical-stage product candidates in three therapeutic areas for both rare and large market diseases: ophthalmology, pulmonology, and cardiology (Fabry disease cardiomyopathy). The 4DMT customized and evolved vectors were invented with the goal of being delivered at relatively low doses 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-150 for wet AMD and DME, 4D-710 for cystic fibrosis lung disease, 4D-310 for Fabry disease cardiomyopathy, 4D-125 for XLRP, and 4D-110 for choroideremia. The 4D preclinical product candidates in development are: 4D-175 for geographic atrophy and 4D-725 for AATLD. 4D-150, 4D-710, 4D-310, 4D-125, and 4D-110 are our product candidates in clinical development and have not yet been approved for marketing by the US FDA or any other regulatory authority. No representation is made as to the safety or effectiveness of 4D-150, 4D-710, 4D-310, 4D-125, or 4D-110 for the therapeutic uses for which they are being studied. 4D Molecular Therapeutics™, 4DMT™, Therapeutic Vector Evolution™, and the 4DMT logo are trademarks of 4DMT. 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 the therapeutic potential, and clinical benefits, as well as the plans and related timing for the clinical development of 4D-150, 4D-710, 4D-310, 4D-125, 4D-110, and 4D-175; and the expectation that the company’s current cash position will be sufficient to fund operations into the first half of 2026. The words "may," “might,” "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," “expect,” "estimate," “seek,” "predict," “future,” "project," "potential," "continue," "target" and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including risks and uncertainties that are described in greater detail in the section entitled "Risk Factors" in 4D Molecular Therapeutics’ most recent Quarterly Report on Form 10-Q to be filed on or about the date hereof, as well as any subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent 4D Molecular Therapeutics' views only as of today and should not be relied upon as representing its views as of any subsequent date. 4D Molecular Therapeutics explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward looking statements. Our results for the quarter ended March 31, 2023, are also not necessarily indicative of our operating results for any future periods. 4D Molecular Therapeutics, Inc. Statements of Operations (Unaudited) (in thousands, except share and per share amounts) Three Months Ended March 31, 2023 2022 Statements of Operations Data: Collaboration and license revenue $ 298 $ 1,219 Operating expenses: Research and development 22,412 19,381 General and administrative 7,992 8,230 Total operating expenses 30,404 27,611 Loss from operations (30,106 ) (26,392 ) Other income 1,424 54 Net loss $ (28,682 ) $ (26,338 ) Net loss per share, basic and diluted $ (0.88 ) $ (0.82 ) Weighted-average shares outstanding used in computing net loss per share, basic and diluted 32,723,530 32,232,378 4D Molecular Therapeutics, Inc. Balance Sheet Data (Unaudited) (in thousands) March 31, December 31 2023 2022 Balance Sheet Data: Cash and cash equivalents and marketable securities $ 201,859 $ 218,462 Working capital 195,762 204,780 Total assets 244,021 261,846 Total liabilities 25,415 30,509 Accumulated deficit (343,172 ) (314,490 ) Total stockholders’ equity 218,606 261,846 Contacts: Media: Katherine Smith Evoke Canale Katherine.Smith@evokegroup.com Investors: Julian Pei Head of Investor Relations and Corporate Communications jpei@4dmt.com 267-644-5097