4D Molecular Therapeutics laid off a quarter of its workforce last month with early-stage R&D bearing the brunt of the changes.
The genetic medicines biotech said shrinking its headcount by 25% should save $15 million a year, which will help the company stick to its financial target of eking out its cash supply into 2028.
4DMT had 227 full-time employees as of February, with 166 engaged in R&D roles. The company said in a July 2 post-market release that the layoffs would be targeted “primarily in the areas supporting early-stage research and development and support functions.”
The biotech ended March with $458 million in the bank, which it believes will be sufficient to fund a pair of upcoming readouts for 4D-150 in wet age-related macular degeneration (AMD). The gene therapy uses an adeno-associated virus vector to deliver transgenes encoding aflibercept, the molecule that Regeneron sells as Eylea, and interferes with RNA to inhibit VEGF-C.
In the same release, 4DMT said enrollment in the first of these studies had already “exceeded initial projections, reflecting continued strong engagement and enthusiasm from investigators and patients.” A 52-week topline readout from that North American trial is now expected in the first half of 2027, rather than the previous timeline of the second half of that year.
Meanwhile, the second of those late-stage studies was launched globally last month, which was also ahead of schedule. A 52-week readout for that trial remains pencilled in for the second half of 2027, 4DMT explained in the release.
“We have aligned our resources to deliver on our mission of bringing transformative and durable genetic medicines to millions of patients in need, with a focus on 4D-150 for wet AMD, in our ongoing transition to becoming a commercial company,” 4DMT CEO David Kirn, M.D., said in the release.
The layoffs aren’t the first time that the company has restructured to keep the funds flowing to 4D-150. In January, the biotech discarded gene therapy programs aimed at two rare eye diseases—choroideremia and X-linked retinitis pigmentosa—while cutting off further investment for three more programs, pending additional financing or partnerships.
In the July 2 release, 4DMT explained that the 25% layoffs are part of a move to “streamline operations to offset additional expenses expected based on the accelerated timelines” for the two 4D-150 trials. The move also aligns with January’s refocus on its late-stage pipeline, the company added.