4D Molecular soars as mid-stage data for eye disease therapy 'checks all boxes'

Feb 5 (Reuters) - Shares of 4D Molecular Therapeutics more than doubled on Monday after the therapy developer reported results from a mid-stage trial of its eye disease therapy.

The stock hit an over two-year high of $35.61 after the company released interim data on Saturday from the trial that tested the gene therapy, 4D-150, in patients with wet age-related macular degeneration (AMD), a leading cause of vision loss among older adults.

Wet AMD is a long-lasting disorder that causes blurred vision or a blind spot in the central vision due to fluid or blood leaking into the macula. 4D Molecular's therapy was tested in 51 patients with severe disease that leads to thicker retinas, resulting in a high treatment burden as the patients have to depend on frequent injections such as Regeneron Pharmaceuticals' Eylea.

In the context of a severe patient population whose retinal thickness is 1.6 times above normal despite 10 prior injections over the last year, RBC Capital Markets analyst Lisa Walter said "you could not ask for a much better result."

In 4D Molecular's trial, the high dose version of the therapy showed 89% reduction in standard-of-care injections, while 63% were injection-free through 24 weeks.

The data "checks all the boxes" said Walter.

An estimated 19.8 million Americans aged 40 and older were living with age-related macular degeneration, according to data from the Centers for Disease Control and Prevention, of which 1.49 million were at a risk of losing their vision.

Adverum and Regenxbio are also developing gene therapies for the disease, but BMO Capital Markets analyst Kostas Biliouris said Adverum's therapy has safety concerns, while the administration of Regenxbio's therapy is not convenient.

"In gene therapy, I see (4D Molecular) is the most viable player."

4D Molecular expects to start late-stage trial in the first quarter of 2025. (Reporting by Sriparna Roy in Bengaluru; Editing by Shinjini Ganguli)