XFOR · NASDAQ · Biotechnology

X4 Pharmaceuticals (XFOR)

Commercializing XOLREMDI while advancing mavorixafor for chronic neutropenia.

$4.01
Pre-market−0.04 (−0.87%)
At close$4.05(−0.61%)
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X4 Pharmaceuticals, Inc.XFORHealth Care

XOLREMDI sales in the United States and a Norgine licensing agreement provide revenue around a single CXCR4 medicine. Mavorixafor's pivotal chronic-neutropenia study is the company's main expansion path.

Commercializes XOLREMDI, an oral CXCR4 antagonist approved in the United States for WHIM syndrome. The medicine is designed to mobilize neutrophils and lymphocytes from bone marrow into peripheral circulation. The same molecule, mavorixafor, is in the global pivotal 4WARD study for chronic neutropenia, leaving the business with one marketed medicine and one main expansion program.

U.S. XOLREMDI sales are its product-revenue source, alongside licensing revenue from a Norgine agreement. Following its restructuring, operations are concentrated on commercializing XOLREMDI and completing 4WARD, with clinical and manufacturing partners and continued access to capital shaping execution.

Company facts

CEOAdam R. Craig
ListedMar 14, 2019
ExchangeNASDAQ
HeadquartersBoston, MA
CountryUnited States
Employees45
CIK0001501697
ISINUS98420X2027

Market cap$381.1M
EPS (ttm)−$1.20
P/E (ttm)−3.37
ROE-63.1%
P/B3.28
P/S24.05
Dividend yieldDiv yield
Beta1.72vs XLV 0.18

Price target$12.00+197.0%Avg of 13 analysts
ConsensusBuy12 of 13 analysts
Ratings

Target rangeAs of Sep 2, 2026

Latest analyst notes

DateFirmActionRatingPrior targetTarget
Jul 10, 2026Wells FargoInitiateOverweight$11
Jun 2, 2026Leerink PartnersTarget$12
Mar 9, 2026GuggenheimTarget$12
Dec 5, 2025Stifel NicolausTarget$7.50$10
Nov 5, 2025Stifel NicolausTarget$9$7.50

Next report
Nov 4, 2026
in 62 days
EPS estimate
−$0.20
Revenue estimate
$2.3M
Fiscal quarter
Q3 FY26

EPSReportedEstimate

May '25Aug '25Nov '25Mar '26May '26Aug '26Aug '26Nov '26
Reported$0.04−$3.47−$0.69−$0.22−$0.16−$0.13−$0.13Pending
Estimate−$4.13−$4.53−$0.79−$0.36−$0.20−$0.18−$0.18−$0.20
Surprise+101.0%+23.4%+12.7%+38.9%+20.0%+26.1%+26.1%

RevenueReportedEstimate

May '25Aug '25Nov '25Mar '26May '26Aug '26Aug '26Nov '26
Reported$28.8M$2.0M$1.8M$2.6M$2.7M$8.8M$8.8MPending
Estimate$1.9M$2.2M$1.7M$1.7M$3.2M$2.4M$2.4M$2.3M
Surprise+1,416.2%−11.4%+1.8%+48.2%−15.4%+263.9%+263.9%
Estimate−$0.20
ReportedDue Nov 4, 2026
Estimate$2.3M
ReportedDue Nov 4, 2026
View details

Debt to equity49.70%
Current ratio1,130.10%

ProfitabilityRevenueNet incomeNet margin

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$560.0K$1.4M$28.8M$2.0M$1.8M$2.6M$2.7M$8.8M
Net income−$36.7M−$39.8M$282.0K−$25.7M−$29.8M−$23.9M−$20.2M−$16.2M
Net margin0.0%0.0%1.0%0.0%0.0%0.0%0.0%0.0%

GrowthOperating income

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Operating income−$34.5M−$35.7M−$9.4M−$26.2M−$27.5M−$23.7M−$20.3M−$16.4M
YoY growth

Balance sheet, Jun 30, 2026Cash & short-term investments $208.0M · Total debt $77.2M · Total assets $253.1M · Shareholders' equity $155.5M

Revenue
$8.8M
Operating income
−$16.4M
Net income
−$16.2M
View details

No dividends on record.

Institutions81 holders · as of Mar 31, 202691.22%90.44M shares
Insiders15 holders · as of Aug 13, 20260.95%938.2K shares
Otherremainder7.83%7.77M shares

99.15M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesEvidence
Morgan StanleyInstitution
9.55%9.47M13Fas of Mar 31, 2026
Empery Asset Management, LPInstitution
9.02%8.94M13Fas of Mar 31, 2026
FMR LLCInstitution
8.17%8.10M13Fas of Mar 31, 2026
Bain Capital Life Sciences Investors, LLCInstitution
8.04%7.97M13Fas of Mar 31, 2026
Perceptive Advisors LLCInstitution
6.80%6.74M13Fas of Mar 31, 2026
See all 25

13F — a manager's quarterly holdings

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Aug 12, 2026John Volponeofficer: President−24,576$4.44
Aug 12, 2026Adam R. Craigdirector, officer: Executive Chairman−47,436$4.44
Jun 30, 2026David Kirskeofficer: Chief Financial Officer−8,543$4.26
May 12, 2026David Kirskeofficer: Chief Financial Officer−16,961$4.29
Oct 23, 2025Adam R. Craigdirector, officer: Executive Chairman+86,206$2.90
View details

  • Amgen

    Reference G-CSF therapy in chronic neutropenia

  • Pfizer

    Filgrastim biosimilar option in chronic neutropenia

  • Amneal Pharmaceuticals

    Filgrastim biosimilar option in chronic neutropenia

ComparePre-market

CompanyPriceChange
X4 Pharmaceuticals$4.01−0.87%$381.1M24.0+346.3%
Amgen$443.00+0.04%$239.00B27.518.96.3+9.7%
Pfizer$28.98−0.17%$165.40B38.310.42.6+2.6%
Amneal Pharmaceuticals$18.01−0.33%$5.77B37.018.11.8+9.9%
Median37.018.12.6+9.7%