Why 4D Molecular (FDMT) Shares Are Falling Today - 4D Molecular Therapeutics (NASDAQ:FDMT)

4D Molecular Therapeutics Inc FDMT said that in June, the company filed a protocol amendment with the FDA for the ongoing Phase 1/2 trial of 4D-310 for Fabry disease.
The protocol amendment is intended to expand the eligible patient population, including the addition of female Fabry patients with symptomatic disease.
SVB Securities cuts 4D Molecular to Market Perform from Outperform with a price target of $12, down from $28 after the Fabry update.
The analyst feels this decision is an "unforced error," as it "introduces additional complexity into a population with an already small N and high inter-patient variability."
Fabry disease is a rare inherited condition that affects enzymes that metabolize fat. Fat deposits then clog blood vessels and tissue.
The inclusion of female patients in the phase 1/2 clinical trial was supported by clinical experience and a GLP toxicology study in female mice models.
Related: 4D Molecular Shares Updated Data From Fabry Disease Trial.
The company continues to expect to provide a clinical data update on 4D-310 in 1H of 2023.
Cash, cash equivalents, and marketable securities were $261.6 million as of June 30, 2022. sufficient to fund operations into 1H of 2025.
Five clinical-stage product candidates are on track for multiple clinical data updates in 2023.
Price Action: FDMT shares are down 11.5% at $9.20 during the market session on the last check Friday.

4D Molecular Shares Fall After Filing For Fabry Disease Trial Amendment