RBC Capital lowered the firm’s price target on 4D Molecular (FDMT) to $35 from $39 but keeps an Outperform rating on the shares after its Q4 results. The company’s first of two wet AMD – wAMD – pivotal studies is on track to initiate this month, with 4D also anticipating the second study to launch in Q3, the analyst tells investors in a research note. 4D Molecular has an ideal benefit/risk profile for wAMD / DME, or diabetic macular edema, and the firm also likes that strategic focus has been sharpened around ophthalmology and the company’s extended cash runway, RBC added.
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