X4 Pharmaceuticals To Axe 30% Of Overall Workforce, Stock Falls In Pre-Market

(RTTNews) - X4 Pharmaceuticals, Inc. (XFOR), Thursday announced a strategic restructuring plan of reducing its overall workforce by 30 percent or 43 employees in the first quarter of 2025.

The headcount reduction would result in discontinuation of research efforts and closing of the company's facility in Vienna, Austria, as well as halting of pre-clinical drug candidate programs.

With the strategic restructuring, X4 aims to improve operational and capital efficiency, focus on the ongoing Phase 3 clinical trial of mavorixafor in chronic neutropenia, and optimize U.S. promotion of Xolremdi for the treatment of WHIM syndrome.

The latest decision is expected to reduce the annual spending by $30 to $35 million, which would be sufficient to support operations into the first half of 2026.

In the pre-market hours, X4's stock is moving down 19.77 percent, to $0.49 on the Nasdaq.