4DMT secures $200M credit facility with Hercules Capital

4D Molecular Therapeutics (Nasdaq: FDMT) has entered into a credit facility agreement with Hercules Capital (NYSE: HTGC) for up to $200 million, according to a company press release.

Under the terms of the agreement, 4DMT drew an initial $20 million at closing. An additional $30 million is available at the company's option through June 15, 2027. A further $100 million becomes available upon achievement of certain unspecified milestones, with the remaining $50 million subject to final lender approval.

The company reported cash, cash equivalents, and marketable securities of $458 million as of March 31, 2026, excluding the new credit facility. 4DMT said its existing cash position is expected to fund planned operations into the second half of 2028.

"The credit facility diversifies our capital structure, allowing us to focus on sustaining our execution momentum, growth planning across our innovative gene therapy pipeline and early commercial planning for 4D-150," said Kristian Humer, Chief Financial Officer of 4DMT.

4D-150 is the company's lead product candidate, currently in Phase 3 development for wet age-related macular degeneration, with a second indication in diabetic macular edema. All of the company's product candidates remain in clinical or preclinical development and have not received regulatory approval.

Leerink Partners served as exclusive financial advisor to 4DMT on the transaction.

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