tiprankstipranks
The Fly

X4 Pharmaceuticals announces strategic restructuring, reduces headcount by 30%

X4 Pharmaceuticals announces strategic restructuring, reduces headcount by 30%

X4 Pharmaceuticals (XFOR) announced a restructuring of its workforce and capital spending to focus efforts on advancing mavorixafor to treat those with chronic neutropenia, while also optimizing its U.S. promotion of XOLREMDI, approved for the treatment of WHIM syndrome, a rare immunodeficiency. Strategic restructuring activities include: Reducing overall headcount by 43 people approximately 30% of X4 employees, which includes discontinuing research efforts and closing the company’s facility in Vienna, Austria, as well as pausing pre-clinical drug candidate programs; Scaling the U.S. commercial field team and supporting roles across the company;Streamlining other spending to support the ongoing clinical development of mavorixafor for the larger population of those with chronic neutropenia. X4 expects its efforts will decrease annual spending by $30-35 million and believes it will have sufficient funds to support operations into the first half of 2026. Workforce reductions are expected to be completed in the first quarter of 2025.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Questions or Comments about the article? Write to editor@tipranks.com