4D Molecular Therapeutics, a Phase 1/2 gene therapy biotech developing novel AAVs for ophthalmic diseases, raised the proposed deal size for its upcoming IPO on Thursday.
The Emeryville, CA-based company now plans to raise $158 million by offering 7 million shares at a price range of $22 to $23. The company had previously filed to offer 4.8 million shares at a range of $20 to $22. At the midpoint of the revised range, 4D Molecular Therapeutics will raise 58% more in proceeds than previously anticipated.
4D Molecular Therapeutics was founded in 2013 and booked $17 million in collaboration and license revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol FDMT. Goldman Sachs, BofA Securities and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of December 7, 2020.
