4D Molecular’s wAMD drug is best-in-class, says RBC, sees ‘ideal’ entry point

4D Molecular (FDMT) presented 52-week wet age-related macular degeneration Phase IIb results at this weekend’s Angiogenesis, Exudation, and Degeneration meeting, and while there was some deterioration of the injection burden vs. the prior cut, the debate of 4D sacrificing efficacy for safety is over as the results are on par with Adverum Biotechnologies (ADVM), RBC Capital tells investors. The firm says the aflibercept levels are “convincing,” and believes 4D Molecular offers an “enticing” reduction in treatment burden with an “ideal” entry point at the current valuation. RBC Capital has an Outperform rating and $39 price target on the shares.