X4 Pharmaceuticals Announces $125 M Capital Infusion

May 9, 2024

DENVER, Colo., May 09, 2024 (247marketnews.com)- X4 Pharmaceuticals (Nasdaq:XFOR) raised $125 million of non-dilutive capital, from two transaction, extending projected cash runway into late 2025. The majority of the funds were generated by X4 selling its Rare Pediatric Disease Priority Review Voucher to an undisclosed purchaser for $105 million. Plus, it drew down an additional $20 million tranche under its existing loan facility with Hercules Capital, Inc. (NYSE:HTGC).

Both transactions were triggered by the FDA approval of the company’s first product, XOLREMDI™ (mavorixafor), in late April.

Adam Mostafa, Chief Financial Officer of X4 Pharmaceuticals, commented, “This infusion of non-dilutive capital provided by these transactions extends our projected cash runway into late 2025, excluding expected commercial product sales, and provides us with additional financial strength and flexibility as we execute on the XOLREMDI launch in WHIM syndrome and continue to advance mavorixafor into a potential second indication, with the planned initiation of a Phase 3 trial this quarter in certain chronic neutropenic disorders.”

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