X4 Pharmaceuticals announced on October 24, 2025 that it has priced its underwritten public offering of 45,860,000 shares of common stock at $2.90 per share and pre‑funded warrants to purchase up to 700,000 shares at $2.899 per warrant. The offering is expected to close on October 27, 2025.
The gross proceeds from the offering are expected to be approximately $135 million before underwriting discounts and commissions. X4 intends to use the net proceeds, together with existing cash, to fund the pivotal Phase 3 development of mavorixafor in chronic neutropenia, as well as for general and administrative expenses, capital expenditures, working capital and other corporate purposes.
The offering is being managed by Leerink Partners, Stifel and Guggenheim Securities as joint bookrunning managers. The pre‑funded warrants have an exercise price of $0.001 per share and are exercisable immediately. This capital raise provides X4 with a significant liquidity cushion to advance its core clinical program and support commercialization of its first product, XOLREMDI, while positioning the company for future growth in the rare disease market.
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