X4 Pharmaceuticals announces restructuring, 50% reduction in workforce

X4 Pharmaceuticals (XFOR) announced a strategic restructuring designed to sharpen operational focus and align resources with the Company’s long-term strategy to successfully complete the 4WARD Phase 3 trial in patients with moderate and severe chronic neutropenia. As part of this initiative, X4 will reduce its workforce by 50%, a step anticipated to result in annualized cost savings of approximately $13M. John Volpone has been appointed COO, in addition to his current role as President. In this expanded role, Mr. Volpone will oversee day-to-day operational management and business execution across the Company. Dr. Adam Craig, Executive Chairman, will oversee clinical development. As part of the workforce reduction, Natasha Thoren, Chief Legal & Compliance Officer; Mary DiBiase, COO; and Mark Baldry, Chief Commercial Officer will be exiting the Company. Dr. Christophe Arbet-Engels, CMO, is resigning for personal reasons and will remain available to support transition activities.