X4 Pharma To Halve Headcount Amid Efforts To Complete Neutropenia Trial

X4 Pharmaceuticals (XFOR) announced on Wednesday that it will reduce its workforce by 50% as part of a strategic restructuring.

The workforce reduction is expected to result in annualized cost savings of approximately $13 million, the company said. The strategic restructuring is aimed at aligning resources to complete the late-stage trial of Mavorixafor in patients with moderate and severe chronic neutropenia, it added.

Shares of the company traded 0.5% in the pre-market session at the time of writing. On Stocktwits, retail sentiment around XFOR stock rose from 'bearish' to 'neutral' territory over the past 24 hours, while message volume stayed at ‘extremely low’ levels.

The Boston-headquartered firm announced that Chief Legal and Compliance Officer Natasha Thoren, Chief Operating Officer Mary DiBiase, and Chief Commercial Officer Mark Baldry will be exiting the company as part of the workforce reduction. Chief Medical Officer Christophe Arbet‑Engels, meanwhile, is resigning for personal reasons, it added.

“Over the coming weeks, we plan to continue to drive operational efficiencies, consolidate resources, and strengthen our leadership structure. With these changes, we expect to be well-positioned to become a world‑class hematology company, beginning with the advancement of mavorixafor into chronic neutropenia,” said Executive Chairman Adam Craig.

The company also appointed its President, John Volpone, as the COO, and he will now oversee day‑to‑day operational management and business execution in his expanded role. Craig, meanwhile, will oversee clinical development.

The company’s Mavorixafor is marketed as Xolremdi in the U.S. for the treatment of people aged 12 years and older with WHIM syndrome — a rare, primary immunodeficiency disorder that impairs white blood cell movement from the bone marrow to the bloodstream. The company is now evaluating additional uses of Mavorixafor and is conducting a global, pivotal late-stage clinical trial in people with certain chronic neutropenic disorders. Neutropenia is characterized by an abnormally low number of neutrophils, a type of white blood cell essential for fighting bacterial and fungal infections.

XFOR stock is down by about 85% this year. 

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