4D Molecular Therapeutics, Inc. (FDMT) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 07, 2026

Risk Assessment Details

Potential Dilution: 40.43% of current shares
Recent Dilution: 24.8% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
51M
Potential Supply
21M
Additional shares possible
Splits
None
Past 2 years

Summary

FDMT currently has 51M outstanding shares. with moderate dilution risk from 20.6M authorized shares representing 40.4% potential dilution. The company has diluted shareholders by 24.8% over the past 2 years through share issuances.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 07, 2026

S-3 filing: 4D Molecular Therapeutics, Inc. files an S-3 registration statement to offer and sell up to $400 million in the aggregate of common stock, preferred stock, debt securities, warrants and units from time to time in one or more offerings.

51M 21M
May 07, 2026

10-Q filing | 52.3M shares outstanding

52M 21M
Jan 26, 2026

8-K filing: 4D Molecular Therapeutics, Inc. exchanged shares of common stock for pre-funded warrants with RA Capital and BVF. RA Capital exchanged 4,850,000 shares, and BVF exchanged 1,750,000 shares.

51M 21M
Nov 10, 2025

10-Q filing | 56.1M shares outstanding

56M 21M
Aug 11, 2025

10-Q filing | 46.7M shares outstanding

47M 21M
May 08, 2025

10-Q filing | 46.3M shares outstanding

46M 21M
Feb 28, 2025

POS AM filing: 4D Molecular Therapeutics, Inc. may offer and sell up to $250,000,000 in the aggregate of common stock, preferred stock, and debt securities from time to time in one or more offerings for general corporate purposes.

46M 21M
Feb 28, 2025

10-K filing | 46.3M shares outstanding

46M 21M
Dec 11, 2024

8-K filing: 4D Molecular Therapeutics, Inc. entered into an exchange agreement with RA Capital Healthcare Fund, L.P., exchanging 535,000 shares of the Company's common stock for a pre-funded warrant to acquire 535,000 shares of the Company's common stock.

46M 21M
Nov 13, 2024

10-Q filing | 46.2M shares outstanding

46M 21M
Aug 08, 2024

10-Q filing | 55.3M shares outstanding

55M 21M
May 09, 2024

10-Q filing | 49.3M shares outstanding

49M 21M
Feb 29, 2024

10-K filing | 49.8M shares outstanding

50M 21M
Nov 09, 2023

10-Q filing | 42.3M shares outstanding

42M 21M
Aug 09, 2023

10-Q filing | 38.3M shares outstanding

38M 21M
Aug 09, 2023

S-3 filing: 4D Molecular Therapeutics, Inc. may offer and sell up to $300.0 million in the aggregate of common stock, preferred stock, debt securities, warrants and units from time to time in one or more offerings.

33M 21M
May 11, 2023

10-Q filing | 32.7M shares outstanding

33M 2.9M
Mar 15, 2023

10-K filing | 32.4M shares outstanding

32M 2.9M
Nov 08, 2022

10-Q filing | 32.4M shares outstanding

32M 2.9M
Aug 23, 2022

S-3 filing: This S-3 filing relates to the proposed resale of up to 2,837,914 shares of 4D Molecular Therapeutics, Inc. common stock by selling stockholders.

32M 2.9M
Aug 11, 2022

10-Q filing | 32.3M shares outstanding

32M 54K
May 12, 2022

10-Q filing | 32.3M shares outstanding

32M 54K
Mar 29, 2022

S-3 filing: 4D Molecular Therapeutics, Inc. is filing an S-3 to offer and sell up to $300,000,000 in the aggregate of common stock, preferred stock, and debt securities from time to time in one or more offerings.

32M 54K
Mar 28, 2022

10-K filing | 32.2M shares outstanding

32M 54K
Nov 10, 2021

10-Q filing | 32.1M shares outstanding

32M 54K
Aug 12, 2021

10-Q filing | 27.0M shares outstanding

27M 54K
May 13, 2021

10-Q filing | 26.7M shares outstanding

27M 54K
Mar 25, 2021

10-K filing | 26.7M shares outstanding

27M 54K
Dec 10, 2020

S-1/A filing: This S-1/A filing includes information on recent sales of unregistered securities, director and executive officer compensation, and indemnification agreements.

17M 54K
Dec 07, 2020

S-1/A filing: This is an S-1/A filing for 4D Molecular Therapeutics, Inc. and includes information on recent sales of unregistered securities, including Series B and C redeemable convertible preferred stock, common stock warrants, and stock options and awards issued under the 2015 Equity Incentive Plan.

17M 54K
Nov 17, 2020

S-1 filing: This S-1 filing includes information about a Series C convertible preferred stock financing where 4,200,353 shares were issued at $18.00 per share for approximately $75.6 million, and an offering of common stock by the company.

17M 0
Jul 21, 2020

RW filing: 4D Molecular Therapeutics, Inc. requests the withdrawal of its Registration Statement on Form S-1 (File No. 333-234021) because it is no longer pursuing an initial public offering of its common stock at this time.

N/A 0
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