X4 Pharmaceuticals, Inc XFOR
We are a biopharmaceutical company developing and commercializing novel therapeutics for the treatment of rare hematology diseases. Our goal is to build a profitable company by generating income from products we develop and commercialize, either alone or with partners.
Our primary asset is mavorixafor, a small molecule delivered in a capsule for oral dosing as a selective antagonist of the chemokine receptor, CXCR4. We have one commercially approved product, XOLREMDI® (mavorixafor), which has received accelerated approval in the United States from the FDA for use as an oral, once-daily therapy in patients 12 years of age and older with WHIM (warts, hypogammaglobulinemia, infections, and myelokathexis) syndrome, to increase the number of circulating mature neutrophils and lymphocytes. WHIM syndrome is a rare combined primary immunodeficiency and chronic neutropenic disorder. Mavorixafor is currently being studied in a pivotal clinical trial in chronic neutropenia ("CN").
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $35.1M | $2.6M | $0 | $0 | $0 | $3.0M | $0 | $0 | — | — |
| Cost of revenue | $5.8M | $797.0K | $0 | $0 | — | — | — | — | — | — |
| Gross profit | $29.4M | $1.8M | $0 | $0 | — | — | — | — | — | — |
| R&D | $72.7M | $81.6M | $72.0M | $61.1M | $50.6M | $41.9M | $30.2M | $20.3M | $17.1M | $17.8M |
| SG&A | $43.5M | $61.5M | $35.5M | $27.0M | $24.7M | $20.9M | $17.6M | $8.7M | $5.2M | $6.5M |
| Total operating expenses | — | $39.0M | $107.5M | $87.6M | $85.1M | $62.9M | $51.7M | $29.1M | $22.2M | $24.3M |
| Operating income | -$86.9M | -$36.4M | -$107.5M | -$87.6M | -$85.1M | -$59.9M | -$51.7M | -$29.1M | -$22.2M | -$24.3M |
| Interest expense | $8.9M | $8.8M | $5.8M | $4.0M | $3.6M | $2.7M | $2.1M | $720.0K | $490.0K | $2.5M |
| Pre-tax income | -$79.2M | -$37.1M | -$101.1M | -$93.8M | -$88.7M | -$62.0M | -$52.8M | -$33.3M | -$22.0M | -$23.0M |
| Income tax | $41.0K | $310.0K | $78.0K | $28.0K | $17.0K | $148.0K | $0 | $0 | — | — |
| Net income | -$79.2M | -$37.5M | -$101.2M | -$93.9M | -$88.7M | -$62.1M | -$52.8M | -$33.3M | -$22.0M | -$23.0M |
| EPS, basic | -1.87 | -5.59 | -17.07 | -1.52 | -3.99 | -3.09 | — | — | — | — |
| EPS, diluted | -1.87 | -5.59 | -17.07 | -1.52 | -3.99 | -3.09 | -4.63 | -79.15 | -54.58 | -44.79 |
| Shares, diluted (wtd. avg.) | 42.3M | 6.7M | 5.9M | 63.5M | 25.7M | 20.1M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $217.0M | $55.7M | $100.2M | $123.0M | $83.1M | $80.7M | $128.1M | $8.1M | $26.7M | $15.2M |
| Receivables | $573.0K | $1.1M | $0 | — | — | — | — | — | — | — |
| Inventory | — | $2.8M | $0 | — | — | — | — | — | — | — |
| Total current assets | $261.6M | $112.2M | $122.1M | $128.7M | $87.9M | $83.3M | $129.3M | $9.3M | $79.5M | — |
| Property, plant and equipment | $182.0K | $776.0K | $745.0K | $1.1M | $1.5M | $1.2M | $403.0K | $241.0K | $421.0K | — |
| Goodwill | $17.4M | $17.4M | $17.4M | $17.4M | $17.4M | $27.1M | $27.1M | $0 | — | — |
| Other intangibles | $9.2M | $10.0M | $0 | — | — | — | — | — | — | — |
| Total assets | $290.5M | $146.4M | $147.3M | $155.6M | $117.2M | $122.9M | $160.7M | $9.9M | $81.3M | — |
| Accounts payable | $5.7M | $8.6M | $8.9M | $7.8M | $4.3M | $3.1M | $2.1M | $3.0M | $1.9M | — |
| Short-term debt | — | — | $0 | $1.3M | $795.0K | $0 | $0 | $1.7M | — | — |
| Total current liabilities | $25.8M | $32.9M | $22.9M | $22.3M | $14.0M | $11.9M | $9.4M | $7.9M | $10.7M | — |
| Long-term debt | $75.0M | $75.0M | $55.0M | $32.3M | $33.1M | $33.2M | $20.0M | $8.3M | — | — |
| Total liabilities | $104.2M | $124.3M | $96.2M | $81.5M | $52.8M | $50.1M | $31.5M | $21.6M | $22.5M | — |
| Retained earnings | -$594.6M | -$515.4M | -$477.9M | -$376.7M | -$282.9M | -$194.2M | -$132.0M | -$79.2M | -$92.3M | — |
| Total equity | $186.3M | $22.1M | $51.1M | $74.1M | $64.4M | $72.8M | $129.2M | -$77.1M | -$44.5M | -$23.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$85.6M | -$130.9M | -$96.5M | -$77.1M | -$70.9M | -$58.8M | -$48.1M | -$25.4M | -$21.3M | -$21.6M |
| Depreciation and amortisation | $1.3M | $796.0K | $419.0K | $513.0K | $499.0K | $351.0K | $103.0K | $103.0K | $71.0K | $285.0K |
| Stock-based compensation | $4.3M | $8.2M | $8.7M | $5.2M | $6.2M | $5.4M | $2.0M | $759.0K | $492.0K | $644.0K |
| Capital expenditure | $0 | $326.0K | $60.0K | $103.0K | $615.0K | $1.4M | $174.0K | $0 | $378.0K | $73.0K |
| Investing cash flow | $8.2M | $67.0M | -$14.9M | -$103.0K | -$615.0K | -$1.4M | $27.2M | $0 | -$378.0K | -$73.0K |
| Financing cash flow | $238.6M | $20.3M | $88.5M | $117.2M | $74.2M | $12.4M | $140.7M | $6.9M | $33.4M | $18.1M |
| Buybacks | — | — | $0 | $0 | $2.0M | $0 | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001501697-26-000018.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $0 | $0 | $3.0M | $0 | $0 | $0 | $2.6M | $35.1M |
| Gross profit | — | — | — | — | — | — | $0 | $0 | $1.8M | $29.4M |
| Net income | -$23.0M | -$22.0M | -$33.3M | -$52.8M | -$62.1M | -$88.7M | -$93.9M | -$101.2M | -$37.5M | -$79.2M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Officer or director change Item 5.02
- Shareholder vote Item 5.07
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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