X4 Pharmaceuticals, Inc. (XFOR) Stock

X4 Pharmaceuticals, Inc. (XFOR) is a Healthcare stock trading at $4.03 (as of 2026-08-21), with a market capitalization of $380.11M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

X4 Pharmaceuticals, Inc. develops and commercializes therapies for rare diseases, including mavorixafor, a small-molecule CXCR4 inhibitor in Phase III and Phase Ib clinical trials for multiple conditions. The company also develops CXCR4 antagonists X4P-002 and X4P-003 and licenses mavorixafor for certain oncology combination uses under an agreement with Abbisko Therapeutics.

Understand X4 Pharmaceuticals, Inc.: how it makes money

X4 Pharmaceuticals develops and commercializes novel therapeutics for rare diseases, with mavorixafor in Phase III and Phase Ib clinical trials, and its revenue shown includes Net Zolremdi Product Revenue plus License and Other Revenue (and ZorMD Revenue).

The profit model hinges on generating commercial product revenue (Net Zolremdi Product Revenue) and any non-product revenue (License and Other Revenue, ZorMD Revenue), while the company is still advancing mavorixafor through Phase III and Phase Ib trials, which can keep profitability under pressure.

Revenue by segment (latest quarter)
Zolremdi$0.0B
Licenses/Other$0.0B
ZorMD$0.0B

Business quality (Weak): Latest-quarter revenue is reported as 0.0B, so near-term financial results provide little signal, and the clearest operating focus comes from trial execution and adoption-related metrics.

Bull case

  • Trial execution is strong on activation: Phase 3 4WARD Trial Activation Percentage is 90.0 percent.
  • Planned scale for the FORWARD study: Planned Enrollment for the FORWARD Study is 150.0 patients.
  • Commercial and clinician interest signals are relatively high: Health Care Providers Surveyed Who Would Consider Prescribing Zolremdi for warts, hypogammaglobulinemia, infections, and myelokathexis syndrome is 80.0 percent.

Bear case

  • No reported revenue in the latest quarter: Revenue_b is 0.0 for the period ending 2026-03-31, with Net Zolremdi Product Revenue and License and Other Revenue each listed at 0.0B.
  • Large operating loss persists: Operating margin is -812.2 for the latest period.
  • Clinical progress and timelines remain the main driver: Mavorixafor is still in Phase III for multiple indications and Phase Ib for chronic neutropenia and Waldenström macroglobulinemia, so outcomes are not yet proven at the stage implied by trial design.
Valuation — source: SEC EDGAR (first-party)
Price$4.03
Market Cap$380.11M
Price / Book2.26
Price / Sales56.65
FCF Yield-32.8%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$6.50M
Net Margin-1218.4%
Revenue Growth (YoY)154.2%
EPS Growth (YoY)884.2%
FCF Growth (YoY)-34.8%
Financial Health — source: SEC EDGAR
Altman Z-Score-0.75 (distress)
Piotroski F-Score4/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderMORGAN STANLEY ($39.10M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOAdam R. Craig
Employees143
CountryUS
IPO Date2017-11-16

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XFOR earnings history · XFOR institutional & insider holders · XFOR KPIs & operating metrics · XFOR financials · XFOR investor presentations & press releases · XFOR SEC filings · XFOR peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.