X4 Pharmaceuticals Reports Third Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - The company's strategic focus is now on advancing the 4WARD Phase 3 chronic neutropenia trial, following a corporate restructuring and new leadership team [2][6] - X4 Pharmaceuticals successfully completed two financial transactions totaling $240.3 million, extending its cash runway to the end of 2028 [2][6] - The company reported net product sales of $1.6 million for Q3 2025, an increase from $0.6 million in Q3 2024, and a total of $4.3 million for the nine months ended September 30, 2025, compared to $1.1 million for the same period in 2024 [4][5] Financial Performance - Net loss for Q3 2025 was $29.8 million, or $0.69 per share, compared to a net loss of $36.7 million, or $5.48 per share, for Q3 2024 [5][14] - For the nine months ended September 30, 2025, the net loss was $55.3 million, or $2.87 per share, compared to a net income of $2.4 million, or $0.35 per share, for the same period in 2024 [5][14] - Operating loss decreased from $34.5 million in Q3 2024 to $27.5 million in Q3 2025, primarily due to strategic restructuring activities [4][6] Corporate Updates - The company has implemented a 50% workforce reduction, expected to generate approximately $13 million in annualized cost savings [6] - The enrollment target for the 4WARD Phase 3 trial has been increased to 176 patients, with completion expected in Q3 2026 [6] - John Volpone has been promoted to Chief Operating Officer, and Dr. Adam Craig has expanded his role to oversee clinical development activities [6] Cash Position - Cash, cash equivalents, and short-term investments totaled $122.2 million as of September 30, 2025 [7] - Following a public offering on October 27, 2025, the company raised net proceeds of $145.6 million, which is expected to fund operations into the end of 2028 [7] Product and Market Focus - The primary focus is on the 4WARD Phase 3 trial of mavorixafor for patients with moderate and severe chronic neutropenia, which has a potential addressable market of 15,000 patients in the US [2][8] - Mavorixafor is an orally active CXCR4 antagonist that mobilizes functional neutrophils from the bone marrow into peripheral blood, addressing a significant unmet need in chronic neutropenia [8][10]