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X4 Pharmaceuticals Inc. (XFOR-9.56%) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The company reported net product revenue of $2.6 million for the year, marking the first year of revenue generation following the U.S. launch of XOLREMDI, an oral therapy approved for WHIM syndrome.
Research and development expenses increased to $81.6 million from $72.0 million in the prior year, primarily due to increased personnel costs associated with ongoing clinical trials.
Selling, general, and administrative expenses rose to $61.5 million, reflecting increased sales and marketing efforts for the launch of XOLREMDI in the United States.
X4 Pharmaceuticals recorded a gain of $105 million from the sale of a Priority Review Voucher, which contributed significantly to offsetting operating expenses.
The company reported a net loss of $37.5 million for the year, compared to a net loss of $101.2 million in 2023.
X4 Pharmaceuticals ended the year with $102.1 million in cash, cash equivalents, and short-term marketable securities.
The company announced a strategic restructuring in February 2025, which includes a 30% reduction in workforce and a focus on advancing mavorixafor for chronic neutropenia.
X4 Pharmaceuticals entered into a license and supply agreement with Norgine Pharma UK Limited, receiving an upfront payment of €28.5 million.
The company acknowledges substantial doubt about its ability to continue as a going concern, citing the need for additional capital to meet future obligations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the X4 Pharmaceuticals Inc. annual 10-K report dated March 26, 2025. To report an error, please email earnings@qz.com.