4D Molecular Therapeutics (FDMT) Research & Development (2020 - 2026)
4D Molecular Therapeutics' Research & Development came in at $68.28 million for Q2 2026, up 42.4% from $47.95 million a year earlier and up 5.1% from the prior quarter.
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Analysis
4D Molecular Therapeutics (FDMT) Research & Development (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, 4D Molecular Therapeutics reported Research & Development of $240.31 million, up 41.2% year-over-year; for FY2025, it was $195.7 million, up 38.5% from FY2024.
- Research & Development has increased in each of the last six years, with a five-year compound annual growth rate of 29.8% (FY2020 to FY2025).
- Going back by year, Research & Development was $141.3 million in FY2024 (+45.5%), $97.1 million in FY2023 (+21.0%), $80.25 million in FY2022 (+30.8%) and $61.36 million in FY2021 (+15.7%).
- The Q2 2026 figure represents the highest quarterly Research & Development in data going back to Q1 2020.
- Year-over-year, Research & Development has increased for 20 consecutive quarters, with growth averaging 47.5% over the last eight quarters.
- Across the past five years, year-over-year growth in Research & Development ran from 15.5% in Q2 2023 to 65.5% in Q4 2024.
- Business Quant data shows FDMT's Research & Development at $64.98 million (Q1 2026), $57.61 million (Q4 2025) and $49.44 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 993.80 Mn |
| 10 | 4D Molecular Therapeutics | 1.02 Bn | -436.78 Mn | - | 68.28 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 68.28 Mn |
| Mar 31, 2026 | 64.98 Mn |
| Dec 31, 2025 | 57.61 Mn |
| Sep 30, 2025 | 49.44 Mn |
| Jun 30, 2025 | 47.95 Mn |
| Mar 31, 2025 | 40.70 Mn |
| Dec 31, 2024 | 43.09 Mn |
| Sep 30, 2024 | 38.48 Mn |
| Jun 30, 2024 | 31.86 Mn |
| Mar 31, 2024 | 27.87 Mn |
| Dec 31, 2023 | 26.03 Mn |
| Sep 30, 2023 | 25.07 Mn |
| Jun 30, 2023 | 23.58 Mn |
| Mar 31, 2023 | 22.41 Mn |
| Dec 31, 2022 | 21.50 Mn |
| Sep 30, 2022 | 18.94 Mn |
| Jun 30, 2022 | 20.42 Mn |
| Mar 31, 2022 | 19.38 Mn |
| Dec 31, 2021 | 17.53 Mn |
| Sep 30, 2021 | 15.84 Mn |
API Access
4D Molecular Therapeutics Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=FDMT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "FDMT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=FDMT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();