X4 Strengthens Cash Position Ahead Of Key Phase 3 Milestones
(RTTNews) - X4 Pharmaceuticals (XFOR) has secured a new senior secured debt facility of up to $150 million from K2 HealthVentures, strengthening its financial flexibility as it advances mavorixafor for chronic neutropenia and prepares for potential future commercialization.
The financing replaces X4's previous loan agreement and provides the company with greater access to capital. An initial $80 million tranche was funded at closing and used to fully repay the company's existing loan obligations, including $75 million in principal and related fees. An additional $70 million could become available in the future, subject to lender approval and other conditions.
According to the company, the new facility offers a larger total borrowing capacity, a longer interest-only period and a 48-month maturity, providing additional financial flexibility as X4 prepares for potential commercial activities related to mavorixafor.
Mavarixafor, marketed as XOLREMDI, is approved in the United States and European Union for patients with WHIM syndrome, a rare primary immunodeficiency disorder. X4 is now seeking to expand the drug's use through its ongoing pivotal Phase 3 4WARD trial in patients with chronic neutropenic disorders.
The company expects to complete enrollment in the 4WARD study by the end of 2026, with topline results anticipated in the first half of 2028.
Mavarixafor has also received Fast Track designation from the U.S. FDA for the treatment of chronic neutropenia.
The financing comes as X4 continues to focus on rare blood disorders, an area where treatment options remain limited for many patients. The company said the new capital structure better aligns with its strategic priorities and supports its next phase of growth.
K2 HealthVentures, which specializes in financing life sciences and healthcare companies, said the agreement reflects its strategy of supporting innovative biotechnology companies through long-term funding partnerships.
XFOR has traded between $2.70 and $4.83 over the past year. The stock closed Wednesday's trading at $2.81, up 1.44%. In pre-market trading the stock is at $2.81.
