| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net loss | -68,760 | 19,397 | -56,876 | -102,630 |
| Stock-based compensation expense | 4,453 | 5,553 | 4,519 | 11,944 |
| Vesting of common stock warrants in return for services | NaN | 0 | NaN | NaN |
| Change in fair value of derivative liability | 12 | 13 | 11 | -76 |
| Depreciation and amortization | 1,269 | 1,216 | 1,261 | 2,217 |
| Amortization of right-of-use assets | 786 | 764 | 742 | 1,425 |
| Net accretion of discount on marketable securities | 1,134 | 1,147 | 1,154 | 2,433 |
| Prepaid expenses and other current assets | 3,993 | 3,165 | -2,748 | 7 |
| Other assets | 670 | -192 | -10 | 5,129 |
| Accounts payable | 3,533 | 4,296 | -1,837 | 4,314 |
| Accrued and other liabilities | -4,123 | 2,372 | 4,982 | 798 |
| Deferred revenue | 1,380 | -90 | -90 | -29 |
| Operating lease liabilities | -878 | -850 | -814 | -1,529 |
| Acquisition of property and equipment | NaN | -70 | -91 | 697 |
| Net cash used in operating activities | -68,125 | 28,551 | -46,498 | -91,135 |
| Purchase of marketable securities | 33,519 | 178,100 | 15,241 | 249,480 |
| Maturities of marketable securities | 102,396 | 49,183 | 32,928 | 268,273 |
| Disposal (acquisition) of property and equipment | -11 | NaN | NaN | NaN |
| Net cash provided by investing activities | 68,888 | -128,847 | 17,778 | 18,096 |
| Issuance of common stock upon exercise of stock options and vesting of rsus | NaN | 984 | NaN | NaN |
| Issuance of common stock under the offering program, net of issuance costs-Public Offering | NaN | 0 | NaN | NaN |
| Issuance of common stock under the offering program, net of issuance costs-Underwritten Offering | NaN | 93,540 | NaN | NaN |
| Issuance of common stock upon exercise of stock options | 1,674 | NaN | NaN | NaN |
| Issuance of common stock upon exercise of stock options and warrants | NaN | NaN | 116 | 2 |
| Issuance of common stock under the atm offering program, net of issuance costs | 9,810 | 9,683 | NaN | NaN |
| Issuance of common stock - 2020 espp | NaN | 393 | 0 | 860 |
| Issuance of common stock under stock purchase agreement | NaN | 7,500 | NaN | NaN |
| Net cash provided by financing activities | 11,484 | 111,982 | 116 | 862 |
| Net increase (decrease) in cash and cash equivalents | 12,247 | 11,686 | -28,604 | -72,177 |
| Cash and cash equivalents, beginning of period | 60,241 | 48,555 | 149,336 | NaN |
| Cash and cash equivalents, end of period | 72,488 | 60,241 | 48,555 | NaN |
4D Molecular Therapeutics, Inc. (FDMT)
4D Molecular Therapeutics, Inc. (FDMT)