4D Molecular Therapeutics

Q2 FY2026 EarningsQ2 FY26 results significantly beat revenue expectations, delivering $3.78M vs. $2.72M consensus (+39.26%), primarily driven by cost-sharing reimbursements from the Otsuka collaboration. While net loss widened YoY to $72.9M, the EPS loss of -$1.04 was roughly in line with the -$1.01 consensus as higher R&D investment for 4D-150 Phase 3 trials was partially offset by non-operating income. Liquidity remains stable with $430.6M in cash and marketable securities, providing over 12 months of runway.