X4 Pharma falls after $135 mln equity offering

X4 Pharmaceuticals

24/10/2025 12:11

** Shares of X4 Pharmaceuticals XFOR.O down 3.9% premarket at $2.97 after overnight follow-on priced

** Boston-based XFOR early Fri announced ~46.6 mln shares, including 700,000 prefunded warrants, for $135 mln gross raise

** Offering price of $2.90 is 6.1% discount to stock's last sale

** XFOR intends to use net offering proceeds to fund Phase 3 development of mavorixafor in certain chronic neutropenic disorders, as well as capex and other purposes

** Chronic neutropenia is a condition with low levels of neutrophils, a type of white blood cell that fights infection

** Leerink, Stifel and Guggenheim are joint bookrunning managers for offering

** XFOR has ~22.4 mln shares outstanding as of Aug 13, filing shows

** Through Thurs close, XFOR shares lost 86% YTD

** All 5 analysts covering the stock are bullish with $9 median PT, according to LSEG data

 (Lance Tupper is a Reuters market analyst. The views expressed are his own)

 ((lance.tupper@tr.com 1-646-279-6380))