4D Molecular Shares Rise on FDA Designation for Wet AMD Drug
22 December 2023 - 4:31AM
Dow Jones News
By Dean Seal
Shares of 4D Molecular Therapeutics rose after federal
regulators granted regenerative medicine advanced therapy
designation to its treatment for wet age-related macular
degeneration.
The stock was up 5.7% at $20.13 in midday trading. Shares are
still down about 9% year-to-date.
The clinical-stage biotherapeutics company said Thursday that
the Food and Drug Administration granted the so-called RMAT
designation to 4D-150 for intravitreal treatment of wed AMD.
The designation is based on 4D-150's potential to address unmet
medical needs, the company said.
Chief Executive David Kirn said this was the first RMAT
designation for an investigational treatment for wet AMD.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
December 21, 2023 12:16 ET (17:16 GMT)
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