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X4 Pharmaceuticals, Inc. (XFOR) is down by 8.91% – Reasons behind it!

X4 Pharmaceuticals, Inc. (XFOR) experienced a decrease of 8.91% in the premarket. However, the last trading session closed at $2.47 with an increase of 4.22%.

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Clinical Data at ASH 2021 – What’s up?

XFOR announced the clinical data at ASH 2021 on 11th December 2021. To present, the interim results from this exploratory trial show that the combination medication leads to quick, clinically substantial, and long-lasting declines in blood IgM levels and increases in hemoglobin in these difficult-to-treat double-mutation individuals. The results from the current Phase 1b clinical study continue to pique the interest, with 100 percent of evaluable patients achieving an overall response (OR) to date. Moreover, preliminary findings show that serum IgM responses in these double-mutation individuals are larger with the combination therapy than with ibrutinib alone in prior trials when looking at the refractory sub-population of patients within the study.

Importantly, the company feels that these findings support the hypothesis that CXCR4 antagonistic therapy might eradicate part or all of the unfavorable effects of CXCR4 mutations in this higher-risk subset of Waldenstrom’s patients. In addition, XFOR looks forward to presenting further findings from this study and continuing pre-clinical research trials throughout 2022 as the company continues to examine the potential of mavorixafor across larger lymphoma patient groups and in different therapy combinations.

Third Quarter 2021 Results – How was the quarter?

On 4th November 2021, XFOR reported third-quarter 2021 results. The company reported cash and cash equivalents of $77.7 million. Moreover, the research and development expenses came out to be $13.2 million, $11.4 million more than that of the same time in 2020. Furthermore, R&D costs included $0.6 million in non-cash expenses and $1.0 million in cash expenses. Last but not least, general and administrative expenses totaled $5.9 million while the net loss was $20.2 million.

New Appointment to Board of Directors

On 19th October 2021, XFOR announced that Françoise de Craecker is the new addition to the board of directors. Françoise has over 30 years of expertise in launching and commercializing novel products and growing rare disease businesses in locations throughout the world, including Europe, the Middle East, Latin America, and the United States. Moreover, the company feels that her strategic commercial perspective and patient-centered devotion will be valuable additions to the X4 Board of Directors. Lastly, XFOR looks forward to Françoise playing vital roles in realizing its full potential for the benefit of patients in need.

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