FDMT Stock: Why It Increased Today

By Amit Chowdhry ● Oct 11, 2021
  • The stock price of 4D Molecular Therapeutics Inc (NASDAQ: FDMT) increased by over 13% during intraday trading today. This is why it happened.

The stock price of 4D Molecular Therapeutics Inc (NASDAQ: FDMT) – a clinical-stage gene therapy company harnessing the power of directed evolution for targeted gene therapies – increased by over 13% during intraday trading today. Investors are responding positively to 4D Molecular Therapeutics announcing interim safety and clinical activity data from the Phase 1/2 clinical trial of intravitreal 4D-125 in patients with advanced X-linked retinitis pigmentosa (XLRP). And the interim data were presented today in a late-breaking presentation at the American Society of Retina Specialists (ASRS) 39th Annual Meeting.

The data described are from the first-in-human, ongoing Phase 1/2 dose-escalation and dose-expansion clinical trial assessing intravitreal 4D-125, 4DMT’s targeted and evolved R100-based product candidate for XLRP. And as of the data cutoff date (September 1, 2021), 8 patients with clinically advanced XLRP due to RPGR gene mutation had been enrolled. 

A standard 3+3 dose-escalation design was used, followed by a dose-expansion cohort. And patients were enrolled in one of three dose cohorts: dose-escalation cohort 1 (3E11 vg/eye; n=3), dose-escalation cohort 2 (1E12 vg/eye n=3) and the dose-expansion cohort (1E12vg/eye; n=2 to date). The patients enrolled in the dose-escalation cohorts of the first-in-human clinical trial had clinically advanced XLRP, with patients having limited or no measurable remaining photoreceptor area or retinal sensitivity. 

As of the data cutoff date, two dose-escalation patients (n=1 at 3E11 vg/eye; n=1 at 1E12 vg/eye) were evaluable for clinical activity defined as having both measurable ellipsoid-zone area (EZ Area) by spectral-domain optical coherence tomography (SD-OCT) and retinal sensitivity by microperimetry in both the treated and untreated control eye with at least 6 months follow-up; dose-expansion cohort patients (n=2) had not yet reached six months follow-up but are expected to be evaluable with sufficient follow up. The ongoing enrollment in the dose-expansion cohort is expected to enroll patients with less advanced disease than those enrolled in dose escalation, and who we expect to be evaluable for clinical activity based on central reading center confirmation at screening.

Interim Safety Data Summary

— 4D-125 was well-tolerated in all eight XLRP patients, including in five patients at the top dose level of 1E12 vg/eye.

— No dose-limiting toxicities or serious adverse events were observed.

— No chronic inflammation was observed.

— Transient, grade 1+ anterior chamber and/or vitreous cells were observed in two of the eight patients at a single protocol-defined assessment timepoint (SUN1 & NEI2 grading scales)

— One patient had grade 1+ vitreous and anterior chamber cells

— One additional patient had grade 1+ vitreous chamber cells

Interim Clinical Activity Summary

In the two-dose escalation patients who were evaluable for clinical activity in both the treated and untreated control eyes, interim data from both patients demonstrated anatomical retina preservation as measured by EZ Area progression, a measurement of intact photoreceptors, in the treated eye as compared to the untreated control eye in the same patient. And interim data from both patients demonstrated functional improvements as measured by increases in the mean retinal sensitivity in the treated eye, and a greater number of loci gaining 7 dB sensitivity in the treated eye, as compared to the untreated control eye in the same patient.
Patient 3 (3E11 vg/eye cohort – 9 months follow-up): Decreases from baseline EZ Area were -12.4% in the treated eye compared to -16.2% in the untreated control eye (~23% lower relative progression rate). An increase in mean retinal sensitivity was demonstrated, with an increase of +1.65 dB in the treated eye from baseline compared to +0.25 dB in the untreated control eye. The number of loci gaining greater than 7 dB sensitivity were six in the treated eye compared to one in the untreated control eye.
Patient 5 (1E12 vg/eye cohort – 6 months follow-up): Decreases from baseline EZ Area were -20.2% in the treated eye compared to -28.7% in the untreated control eye (~30% lower relative progression rate). An increase in mean retinal sensitivity was demonstrated, with an increase of +0.90 dB in the treated eye from baseline compared to +0.10* dB in the untreated control eye. The number of loci gaining greater than 7 dB sensitivity were three in the treated eye compared to zero in the untreated control eye.

KEY QUOTES:

“These are the first clinical data reported with a product invented from our Therapeutic Vector Evolution platform at 4DMT, and these interim data demonstrate clinical proof-of-concept for safety, tolerability and clinical activity. These data support our belief that 4D-125 is well tolerated, and has the potential to both slow the progressive loss of photoreceptors in patients with XLRP after a single intravitreal injection and to improve visual function. We believe these results validate the potential of our platform, and of the R100 vector, which is also deployed in 4DMT targeted product candidates designed to treat a variety of large market diseases. Consistent with our prior guidance, we expect our first R100-based large-market product candidate, 4D-150 for wet AMD, to enter clinical development before year-end.”

— David Kirn, M.D., Co-founder and Chief Executive Officer of 4DMT

“Given the encouraging data we have seen with our intravitreal gene therapy, we plan to continue enrolling patients at the top dose level of 1E12 vg/eye in the dose expansion cohort, including treatment of patients with less advanced disease who are evaluable for both anatomical and functional endpoints. We designed 4D-125 to be administered via intravitreal administration, which targets the entire surface of the retina and thereby enables the potential to treat broader patient populations, including early stage patients, more effectively than is feasible with subretinal approaches. In the case of XLRP, we believe that early stage patient populations may have the potential to benefit from our gene therapy even more than advanced patients given our goal of preserving photoreceptors. We plan to explore development paths that include treating both early stage and advanced patient populations.”

— Dr. Robert Kim, M.D., Senior Vice President & Clinical Therapeutic Area Head, Ophthalmology

“XLRP is a slowly progressing inherited retinal dystrophy that leads to vision loss and ultimately blindness. There are currently no treatment options available to these XLRP patients. 4DMT’s gene therapy is a promising approach because, unlike other gene therapy approaches, it is delivered via intravitreal injection, a routine clinical route of administration that targets the entire surface of the retina. These interim clinical data suggest that 4D-125 is well-tolerated and has the potential to both slow the loss of the photoreceptor ellipsoid zone area and enhance retinal sensitivity.”

— Dr. Cagri Besirli, M.D., Ph.D., University of Michigan, Kellogg Eye Center and a principal investigator on the 4D-125 Phase 1/2 clinical trial

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.