4D Molecular Therapeutics, Inc.
For the period ended Dec 31, 2025. Filed Mar 18, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 18, 2026
FDMT$12.48+1.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Cash Flows
(In thousands)
| Year ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net loss | $(140,109) | $(160,868) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Stock-based compensation expense | 22,016 | 26,116 |
| Vesting of common stock warrants in return for services | — | 66 |
| Change in fair value of derivative liability | (52) | 41 |
| Depreciation and amortization | 4,694 | 4,653 |
| Amortization of right-of-use assets | 2,931 | 2,052 |
| Net accretion of discount on marketable securities | (4,734) | (7,182) |
| Changes in operating assets and liabilities | ||
| Prepaid expenses and other current assets | (424) | (1,699) |
| Other assets | (4,927) | (3,577) |
| Accounts payable | 6,773 | 871 |
| Accrued and other liabilities | 8,152 | 6,524 |
| Deferred revenue | (209) | 69 |
| Operating lease liabilities | (3,193) | (1,651) |
| Net cash used in operating activities | (109,082) | (134,585) |
| Cash flows from investing activities | ||
| Purchases of marketable securities | (442,821) | (467,652) |
| Maturities of marketable securities | 350,384 | 169,001 |
| Acquisition of property and equipment | (536) | (3,786) |
| Net cash used in investing activities | (92,973) | (302,437) |
| Cash flows from financing activities | ||
| Issuance of common stock upon exercise of stock options and vesting of RSUs | 984 | 4,580 |
| Issuance of common stock upon public offering, net of issuance costs | — | 316,149 |
| Issuance of common stock upon underwritten offering, net of issuance costs | 93,540 | — |
| Issuance of common stock under the ATM offering program, net of issuance costs | 9,683 | 15,263 |
| Issuance of common stock - 2020 ESPP | 1,253 | 1,258 |
| Issuance of common stock under stock purchase agreement | 7,500 | — |
| Net cash provided by financing activities | 112,960 | 337,250 |
| Net decrease in cash and cash equivalents | (89,095) | (99,772) |
| Cash and cash equivalents, beginning of period | 149,336 | 249,108 |
| Cash and cash equivalents, end of period | $60,241 | $149,336 |
| Supplemental disclosures of noncash investing and financing information | ||
| Unpaid stock issuance costs in accrued and other liabilities | $307 | $— |
| Purchases of property and equipment in accounts payable and accrued and other liabilities | $— | $509 |
| Right-of-use assets obtained in exchange for lease obligations | $— | $11,587 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.