Chardan notes 4D Molecular Therapeutics presented 24-week data from the Population Extension cohort in the phase II PRISM trial of 4D-150 in wet age-related macular degeneration, or wAMD, which showed 89% reduction in annualized injection rate with 77% of patients injection free at the planned Phase 3 dose. The firm notes it had previously stated that it was looking for similar signals of BCVA stability and burden reduction in the population extension cohort as in the high-burden group and says “this is more or less what we saw,” so it is maintaining its odd of success assumptions in wAMD at 45% and in DME at 30% pending greater visibility. Chardan has a Buy rating and $38 price target on 4D Molecular shares.
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