X4 Pharmaceuticals rises on $65 mln private investment

X4 Pharmaceuticals

16/05/2023 15:40

** Shares of drug developer X4 Pharmaceuticals Inc  XFOR.O 
up about 14.8% at $1.75
    ** Co to issue about 42.8 mln shares of common stock at a
purchase price of $1.52 apiece in a private investment in public
equity (PIPE) financing
    ** Expects gross proceeds from PIPE to be about $65 mln
    ** Co says PIPE financing included participation from Bain
Capital Life Sciences, Adage Capital Management, Acorn
Bioventures and others
    ** Expects to use funds from PIPE for continued clinical
development and commercial readiness of lead candidate
mavorixafor
    ** XFOR up about 66.2% YTD

 (Reporting by Vaibhav  Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))