By Chris Wack 
 

4D Molecular Therapeutics Inc. shares were down 12% at $21.80 after the company said it received a notice of termination of the collaboration and license agreement by 4D-110 licensee Roche resulting in full rights to 4D-110 for choroideremia reverting to 4D Molecular.

Volume for the stock was 509,000 shares at 1:40 p.m. ET, compared to its 65-day average volume of 119,000 shares. The stock hit its 52-week low of $21.40 earlier in the session.

The company said Roche requested that 4D Molecular end the Roche-funded 4D-110 trial in advanced choroideremia patients as a result of Roche's assessment of a change in the risk-benefit profile.

Roche sent a notice of termination without cause, effective Sept. 16, with 4D Molecular regaining full rights to 4D-110.

4D Molecular said it hasn't changed its position on the potential of 4D-110 for choroideremia, and intends to continue clinical development. The company said it plans to submit to the Food and Drug Administration safety and efficacy data from the completed Phase 1 clinical trial along with a new clinical study protocol as soon as possible.

The company said it will conclude the Roche-funded clinical trial under the collaboration and plans to subsequently transfer previously treated patients onto a company-sponsored long-term follow-up study to continue monitoring biologic activity endpoints, safety and tolerability.

 

Write to Chris Wack at chris.wack@wsj.com

 

(END) Dow Jones Newswires

June 24, 2021 14:01 ET (18:01 GMT)

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