4D Molecular Therapeutics is a late-stage biotechnology company developing durable genetic medicines using proprietary adeno-associated virus (AAV) vectors discovered through its Therapeutic Vector Evolution platform, which applies directed evolution in non-human primate models to create vectors with tissue-specific targeting capabilities via routine administration routes. The company's lead product candidate, 4D-150, combines a proprietary vector with a dual-transgene payload designed as a single-dose treatment for chronic retinal vascular diseases including wet age-related macular degeneration and diabetic macular edema, while 4D-710 represents the company's pulmonology program targeting cystic fibrosis through aerosol-delivered gene therapy. 4DMT generates revenue through product sales following regulatory approval, targeting large markets including the multi-billion-dollar anti-VEGF market for retinal disease and the smaller but medically significant cystic fibrosis market, and has established commercial partnerships such as its collaboration with Otsuka Pharmaceutical for Asia-Pacific rights to its lead retinal candidate.