4DMT Q2 2026 net loss widens to $72.9 million from $54.7 million
4DMT reported a second-quarter 2026 net loss of $72.9 million, up from $54.7 million a year earlier, as research and development spending rose to $68.3 million from $48.0 million on its 4D-150 Phase 3 wet AMD trials. Collaboration revenue was $3.8 million, compared with an insignificant amount a year earlier. The company had $430.6 million in cash and marketable securities at June 30, 2026, and said this should fund operations into the second half of 2028, after securing a credit facility of up to $200 million from Hercules Capital with a $20 million initial draw.
Key points
- Net loss was $72.9 million, or $1.04 per share, for the three months ended June 30, 2026, versus $54.7 million, or $0.98 per share, a year earlier.
- R&D expenses were $68.3 million versus $48.0 million; G&A expenses were $12.5 million versus $11.5 million.
- Cash, cash equivalents and marketable securities were $430.6 million at June 30, 2026, down from $514.0 million at December 31, 2025.
- Hercules Capital credit facility of up to $200 million; initial draw of $20 million at closing.
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 13, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.