X4 Pharmaceuticals (XFOR)
NASDAQ:XFOR
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X4 Pharmaceuticals
(NASDAQ:XFOR)
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Rating:50Neutral
Price Target:
$4.00
▼(-6.76% Downside)
Action:Reiterated
Date:05/13/26
The score is held back primarily by significant ongoing losses and persistent cash burn despite strong gross margins, plus high revenue volatility. Technicals are moderately supportive with price above major moving averages and positive momentum. Valuation is constrained by negative earnings, and the recent equity plan expansion adds dilution risk.
Positive Factors
Low leverage / strengthened balance sheet
Material debt reduction and sizable equity (~$168M) improve financial flexibility and optionality over the next 2–6 months. Low leverage reduces refinancing risk, supports funding of R&D or commercialization initiatives, and gives management runway to execute without near-term covenant pressure.
Negative Factors
Persistent cash burn and negative FCF
Large, recurring operating cash outflows imply continued reliance on external financing to fund operations and trials. This persistent cash burn constrains strategic flexibility, increases dilution risk from future financings, and is a multi‑month structural pressure until revenues or cost structure change materially.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strengthened balance sheet
Material debt reduction and sizable equity (~$168M) improve financial flexibility and optionality over the next 2–6 months. Low leverage reduces refinancing risk, supports funding of R&D or commercialization initiatives, and gives management runway to execute without near-term covenant pressure.
Read all positive factors
X4 Pharmaceuticals (XFOR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$381.05M
Dividend YieldN/A
Average Volume (3M)351.87K
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue Growth-71.26%
EPS Growth-300.04%
CountryUS
Employees143
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-4.54
Shares Outstanding94,319,695
10 Day Avg. Volume326,988
30 Day Avg. Volume351,871
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.91
Price to Sales (P/S)4.82
P/FCF Ratio-1.91
Enterprise Value/Market Cap-0.45
Enterprise Value/Revenue-18.87
Enterprise Value/Gross Profit-23.75
Enterprise Value/Ebitda1.76
Forecast
1Y Price Target
$12.00Price Target Upside179.72% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.87
Revenue Forecast (FY)$8.03M
X4 Pharmaceuticals Business Overview & Revenue Model
Company Description
X4 Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the research, development, and commercialization of novel therapeutics for the treatment of rare diseases of the immune system. It offers XOLREMDI, an orally small-molecule selectiv...
How the Company Makes Money
null...
X4 Pharmaceuticals Earnings Call Summary
Earnings Call Date:May 01, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant progress in clinical trials and global expansion efforts, supported by a strong financial position and promising market research. However, challenges remain in sales consistency and the brief commercial history in the WHIM market.Positive Updates
Clinical Trial Advancements
X4 advanced the 4WARD Phase III trial for chronic neutropenia (CN), with over 90% of global trial sites activated and a finalized trial design based on regulatory feedback.
Negative Updates
Sales Fluctuations
Quarterly sales of XOLREMDI were slightly lower than the previous quarter due to inventory resupply timing and market lumpiness.
Read all updates
Q1-2025 Updates
Positive
Negative
Clinical Trial Advancements
X4 advanced the 4WARD Phase III trial for chronic neutropenia (CN), with over 90% of global trial sites activated and a finalized trial design based on regulatory feedback.
Read all positive updates
Company Guidance
During the X4 Pharmaceuticals Q1 2025 financial call, the company provided several key metrics and updates. The 4WARD trial, a pivotal Phase III study for mavorixafor in chronic neutropenia (CN), is actively enrolling participants with over 90% of global trial sites activated. The trial aims to demonstrate statistically significant improvements in absolute neutrophil count (ANC) response and reductions in annualized infection rates, targeting a CN population of about 15,000 in the US with high unmet medical needs. The trial is powered at over 95% for the ANC endpoint and over 90% for infection rate outcomes. X4 anticipates full enrollment by Q3 or Q4 2025, with top-line data expected in H2 2026. Financially, X4 reported ending Q1 with just under $90 million in cash, with cumulative XOLREMDI sales reaching $3.5 million since its May 2024 launch. Additionally, the company highlighted its strategic partnerships for expanding mavorixafor's reach globally, including expected EMA approval by Q1 2026.X4 Pharmaceuticals Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
56
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.01M | 35.11M | 2.56M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 7.16M | 28.86M | 1.76M | 0.00 | 0.00 | -1.89M |
| EBITDA | -96.70M | -85.61M | -27.58M | -94.89M | -89.33M | -73.46M |
| Net Income | -99.72M | -79.20M | -37.45M | -101.17M | -93.87M | -88.70M |
Balance Sheet | ||||||
| Total Assets | 270.28M | 290.46M | 146.45M | 147.26M | 155.59M | 117.18M |
| Cash, Cash Equivalents and Short-Term Investments | 233.72M | 253.00M | 102.06M | 114.22M | 121.72M | 81.79M |
| Total Debt | 733.00K | 77.28M | 78.09M | 58.28M | 38.42M | 39.78M |
| Total Liabilities | 101.83M | 104.17M | 124.30M | 96.16M | 81.53M | 52.76M |
| Stockholders Equity | 168.45M | 186.29M | 22.15M | 51.10M | 74.05M | 64.41M |
Cash Flow | ||||||
| Free Cash Flow | -73.25M | -88.62M | -138.23M | -96.57M | -77.20M | -71.52M |
| Operating Cash Flow | -92.85M | -85.62M | -130.90M | -96.51M | -77.10M | -70.91M |
| Investing Cash Flow | 30.54M | 8.15M | 66.99M | -14.88M | -103.00K | -615.00K |
| Financing Cash Flow | 238.63M | 238.63M | 20.29M | 88.52M | 117.23M | 74.25M |
X4 Pharmaceuticals Technical Analysis
Positive
4.29
Price Trends
4.11
Negative
3.90
Positive
3.68
Positive
Market Momentum
-0.06
Positive
48.87
Neutral
39.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XFOR, the sentiment is Positive. The current price of 4.29 is above the 20-day moving average (MA) of 4.12, above the 50-day MA of 4.11, and above the 200-day MA of 3.68, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 48.87 is Neutral, neither overbought nor oversold. The STOCH value of 39.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for XFOR.
X4 Pharmaceuticals Risk Analysis
X4 Pharmaceuticals disclosed 65 risk factors in its most recent earnings report. X4 Pharmaceuticals reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
X4 Pharmaceuticals Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $116.66M | -12.04 | 107.73% | ― | ― | 36.33% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $381.05M | -6.44 | -94.90% | ― | -71.26% | -300.04% | |
48 Neutral | $105.34M | -15.21 | -225.59% | ― | -9.79% | 82.00% | |
45 Neutral | $142.89M | -9.06 | -61.43% | ― | -100.00% | 18.25% | |
42 Neutral | $67.20M | -0.92 | -68.98% | ― | ― | -26.14% |
* Healthcare Sector Average
XFOR
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X4 Pharmaceuticals Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
X4 Pharmaceuticals Shareholders Approve Expanded Equity Incentive Plan
Positive
May 12, 2026
At its recent Annual Meeting, X4 Pharmaceuticals’ stockholders approved an increase of 1,500,000 shares available under the company’s Second Amended and Restated 2017 Equity Incentive Plan, reinforcing the firm’s ability to use s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.