Shares of biotherapeutics company 4D Molecular Therapeutics (NASDAQ:FDMT) are up in double digits at the time of writing today after it posted positive interim data from a Phase 1/2 study evaluating 4D-710 for the treatment of cystic fibrosis lung disease.
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The gene therapy is designed for aerosol delivery in order to lead to CFTR transgene expression within lung airway epithelial cells. Subjects in cohort 1 of the trial witnessed meaningful improvement in cystic fibrosis-associated quality of life and importantly, the evidence of tolerability, high-level CFTR protein expression, and early clinical activity in three subjects warrants further development of 4D-710.
Next, the company is looking at key milestones for 4D-710 with the presentation of the Phase 1 dose exploration stage interim data anticipated in November and the Phase 2 dose expansion stage anticipated in the second half of this year. Additionally, The company also plans to discuss pivotal endpoints for the study with the U.S. Food and Drug Administration in the fourth quarter of this year.
Overall, the Street has a $35.50 consensus price target on 4D Molecular implying a mouth-watering 94.3% potential upside in the stock. That’s on top of a nearly 134% rise in FDMT shares over the past year.
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