4D Molecular Therapeutics (FDMT) Research & Development (2020 - 2026)
4D Molecular Therapeutics (FDMT) posted quarterly Research & Development of $65.0 million for Q1 2026, up 59.66% year-over-year from $40.7 million in Q1 2025, and up 12.8% quarter-over-quarter from $57.6 million in Q4 2025.
4D Molecular Therapeutics (FDMT) Research & Development (2020 - 2026) Analysis & Trends
4D Molecular Therapeutics (FDMT) has reported Research & Development for 7 consecutive years, with $65.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Research & Development rose 59.66% year-over-year to $65.0 million; the TTM figure through Mar 2026 stood at $220.0 million (up 42.72% YoY), while the FY2025 annual figure was $195.7 million, up 38.5% from the prior year.
- Research & Development advanced to $65.0 million in Q1 2026 per FDMT's latest filing, from $57.6 million in the prior quarter.
- Across five years, Research & Development topped out at $65.0 million in Q1 2026 and bottomed at $18.9 million in Q3 2022.
- Historically, Research & Development has averaged $34.1 million across 5 years, with a median of $27.9 million in 2024.
- Annual changes were most pronounced in 2023 — Research & Development gained 15.48% — and 2024, when it jumped 65.54%.
- 4D Molecular Therapeutics' Research & Development stood at $21.5 million in 2022, then rose by 21.06% to $26.0 million in 2023, then surged by 65.54% to $43.1 million in 2024, then surged by 33.7% to $57.6 million in 2025, then increased by 12.8% to $65.0 million in 2026.
- Business Quant data shows FDMT's Research & Development at $65.0 million in Q1 2026, $57.6 million in Q4 2025, and $49.4 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 993.80 Mn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 1.63 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 1.37 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 394.92 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 612.28 Mn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 1,146.05 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 97.90 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 413.13 Mn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 210.03 Mn |
| 10 | 4D Molecular Therapeutics | 856.62 Mn | 495.28 Mn | - | 68.28 Mn |
Historic Data
Download 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 |