4D Molecular Therapeutics, Inc. — Form 10-Q

4D Molecular Therapeutics, Inc. entered into a Loan and Security Agreement dated June 24, 2026 with Hercules Capital, Inc. (as Agent and Lender) and affiliated funds for up to $200 million in aggregate principal amount across seven tranches of term loans. The facility is secured by substantially all company assets including intellectual property, with tranche draws conditioned on regulatory and business milestones. Key terms include a variable interest rate (Prime Rate plus margin per Exhibit K), facility and tranche charges, prepayment charges, and an End of Term Charge. The agreement contains financial covenants requiring minimum cash maintenance and performance metrics post-closing.