Shares of biotherapeutics company 4D Molecular (NASDAQ:FDMT) are on the rise today after it entered into a licensing deal with Astellas Pharma for the intravitreal retinotropic R100 vector.
With this licensing agreement, Astellas bagged the rights to utilize the vector for one genetic target in rare monogenic ophthalmic diseases. Further, Astellas will also have the option for two additional targets at additional fees.
Importantly, all three of 4D Molecular’s ophthalmic candidates make use of R100. Under the deal, 4D gets $20 million in upfront payment and potentially stands to make $942.5 million in future milestones and option fees. The company will also receive royalties on net sales of all the products under the licensing deal.
Overall, the Street has a $37.25 consensus price target on 4D Molecular alongside a Strong Buy consensus rating. This points to a massive 98.6% potential upside in the stock on top of a 135.4% price surge over the past year.
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