X4 Pharmaceuticals Posts Wider Loss In Q3 - Quick Facts

Arsanis

0.39 USD 0.49%

• Charts
• News
• Analysen

Kaufen / Verkaufen

(RTTNews) - X4 Pharmaceuticals (XFOR) posted a net loss of $36.7 million for the third quarter ended September 30, 2024, compared to a net loss of $2.3 million for the comparable period in 2023. Net loss per share was $0.18 compared to a loss of $0.01. On average, seven analysts polled by Thomson Reuters expected the company to report a loss per share of $0.17, for the quarter. Analysts' estimates typically exclude special items.

For the three months ended September 30, 2024, X4 reported net product revenue of $0.6 million and cost of revenue of $0.2 million related to the sale of XOLREMDI. Analysts on average had estimated $1.69 million in revenue.

X4 had $135.8 million in cash, cash equivalents, restricted cash, and short-term marketable securities as of September 30, 2024. The company believes it has sufficient funds to support operations into late 2025.

Separately, X4 Pharmaceuticals announced positive new clinical data from now completed Phase 2 clinical trial evaluating mavorixafor in the treatment of people with chronic neutropenia. An analysis of final data from the six-month study showed that once-daily oral mavorixafor durably and meaningfully increased participants' mean absolute neutrophil counts.

Paula Ragan, CEO of X4 Pharmaceuticals, said: "These data not only confirm our interim findings, but also increase our confidence in a positive outcome for our ongoing pivotal Phase 3 4WARD trial and the potential of mavorixafor to help people living with chronic neutropenia."

For More Such Health News, visit rttnews.com.