X4 Pharmaceuticals, Inc

XFOR

X4 Pharmaceuticals, Inc

XFOR

Insider Sentiment (TTM):

Last Purchase:2025-10-23Last Sale:2026-05-12Shares Purchased (TTM):86,206Shares Sold (TTM):16,961

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:90,424,089Shares Outstanding:126,288,723Institutional Ownership Pct.:71.60%

Earnings Market Reaction:

Filing Date:2026-08-06Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	195	217	217	70	39	40	56	97	147	60	99	132
Accounts And Other Receivables Net Current	2	1	1	1	1	1	1	-	-	-	0	-
Marketable Securities	13	17	36	53	24	47	46	38	22	20	15	10
Inventory Gross	6	5	4	4	3	3	3	2	1	-	-	-
Inventory Net	-	-	-	-	-	-	3	-	-	-	0	-
Prepaid Expense And Other Assets Current	3	3	4	5	5	4	6	4	5	6	7	6
Assets Current	219	242	262	133	73	96	112	143	175	87	122	148
Property Plant And Equipment Net	0	0	0	0	0	0	1	1	1	1	1	1
Goodwill	17	17	17	17	17	17	17	17	17	17	17	17
Finite Lived Intangible Assets Net	13	9	9	9	10	10	10	10	10	-	0	-
Operating Lease Right Of Use Asset	1	1	1	2	3	4	4	4	5	5	6	6
Other Assets Noncurrent	3	1	1	2	2	3	2	2	2	1	1	1
Assets	253	270	290	164	105	130	146	178	211	112	147	173
Liabilities
Liabilities And Stockhold…
Liabilities Current
Accounts Payable Current	4	5	6	5	8	11	9	9	8	9	9	8
Long Term Debt Current	-	-	-	-	-	-	-	-	-	-	0	0
Accrued Liabilities Current	14	17	19	17	13	13	23	19	20	13	13	16
Contract With Customer Liability Current	1	1	0	1	1	1	0	-	-	-	-	-
Operating Lease Liability Current	0	1	1	1	1	1	1	1	1	1	1	1
Liabilities Current	19	24	26	24	23	26	33	29	29	24	23	25
Operating Lease Liability Noncurrent	-	-	0	0	1	1	1	2	2	2	3	3
Derivative Liabilities Noncurrent	0	1	1	1	0	3	14	11	9	29	16	22
Contract With Customer Liability Noncurrent	1	0	1	1	1	1	0	-	-	-	-	-
Other Liabilities Noncurrent	1	1	1	1	1	1	1	1	1	1	0	1
Liabilities	98	102	104	102	101	107	124	119	116	111	96	106
Stockholders Equity
Preferred Stock Value	0	0	0	0	0	0	0	-	-	-	0	-
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital Common Stock	786	783	781	632	545	538	538	535	533	531	529	526
Accumulated Other Comprehensive Income Loss Net Of…	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Retained Earnings Accumulated Deficit	-631	-615	-595	-571	-541	-515	-515	-476	-439	-530	-478	-459
Stockholders Equity	155	168	186	62	4	23	22	60	94	1	51	68
Liabilities And Stockholders Equity	253	270	290	164	105	130	146	178	211	112	147	173
Preferred Stock Par Or Stated Value Per Share	0.001	0.001	0.001	0.001	0.001	0.001	0.001	-	-	-	0.001	-
Preferred Stock Shares Authorized	10	10	10	10	10	10	10	-	-	-	10	-
Preferred Stock Shares Issued	0	0	0	0	0	0	0	-	-	-	0	-
Preferred Stock Shares Outstanding	0	0	0	0	0	0	0	-	-	-	0	-
Common Stock Par Or Stated Value Per Share	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001	0.001
Common Stock Shares Authorized	500	500	500	500	500	500	500	500	500	500	500	500
Common Stock Shares Issued	96	94	91	25	8	6	6	6	6	6	6	5
Shares Outstanding	96	94	91	25	8	6	6	6	6	6	6	5

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-1.60%	-8.22%	-12.10%	-	-	-	-	-	-	-	-	-
2025	-17.33%	-28.80%	-61.87%	152.01%	132.21%	155.03%	2.54%	26.76%	4.23%	-3.07%	4.73%	-9.46%
2024	-7.34%	-46.79%	-20.92%	7.36%	0.46%	-25.46%	44.04%	167.87%	152.71%	-29.00%	-63.82%	-65.06%
2023	-	-	-	23.81%	3.81%	-32.57%	-6.33%	6.20%	-1.90%	2.29%	-19.85%	-22.90%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	11.30	10.18	10.16	5.65	3.19	3.70	3.41	4.89	6.07	3.71	5.34	5.81
Quick Ratio	10.84	9.88	9.84	5.27	2.83	3.40	3.16	4.65	5.87	3.47	5.02	5.59
Working Capital	199.49M	218.21M	235.82M	109.30M	50.05M	69.81M	79.30M	113.71M	146.51M	63.79M	99.21M	122.44M
Leverage & Debt
Debt to Equity	0.63	0.60	0.56	1.65	25.48	4.67	5.61	1.99	1.23	107.28	1.88	1.56
Interest Coverage TTM	-10.06	-11.10	-9.79	-11.00	-11.57	-0.94	-4.15	-3.10	-2.46	-17.66	-18.61	-21.43
Debt Ratio	0.39	0.38	0.36	0.62	0.96	0.82	0.85	0.67	0.55	0.99	0.65	0.61
Efficiency & Turnover
Asset Turnover TTM	0.09	0.05	0.16	0.20	0.21	0.26	0.02	0.01	0.00	0.00	0.00	0.00
Per Share Metrics
Diluted EPS TTM	-0.71	-0.79	-1.87	-2.20	-13.76	2.13	-5.59	-2.50	2.63	-19.34	-17.09	-16.60
Free Cash Flow Per Share TTM	-0.61	-0.74	-2.02	-2.10	-13.09	-16.07	-19.58	-22.77	-20.83	-15.56	-16.31	-15.26
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	81.51%	81.82%	83.60%	83.24%	83.00%	82.42%	-	-	-	-	-	-
Operating Profit Margin TTM	-554.71%	-1,084.38%	-247.44%	-291.06%	-323.09%	-27.28%	-1,423.58%	-2,304.99%	-3,303.55%	-	-	-
Net Profit Margin TTM	-568.80%	-1,106.30%	-225.55%	-279.86%	-311.15%	46.54%	-1,464.61%	-1,492.34%	3,131.79%	-	-	-
Growth Metrics
Net Revenue Growth (1Y)	-51.65%	-71.26%	1,273.21%	2,925.73%	5,721.31%	-	-	-	-	-	-	-
Net Income Growth (1Y)	-11.61%	-783.12%	111.48%	467.43%	-678.36%	-111.32%	-62.98%	-84.61%	-113.76%	37.63%	7.78%	11.99%
EPS Growth (1Y)	-94.81%	-137.00%	-66.49%	-12.20%	-621.28%	-111.04%	-67.30%	-84.92%	-111.57%	0.35%	-61.50%	-52.70%
Valuation Metrics
P/E TTM	-6.55	-5.23	-2.14	-1.56	-0.14	3.32	-3.94	-8.02	6.59	-2.16	-1.47	-1.97
P/B TTM	3.80	3.10	0.91	2.40	3.55	2.11	6.66	2.25	1.23	268.33	2.92	3.17
P/S TTM	37.23	57.86	4.82	4.36	0.43	1.54	57.72	119.66	206.49	-	-	-
Market Cap	590.03M	521.57M	169.17M	147.99M	14.08M	48.43M	147.58M	134.38M	116.26M	277.99M	149.04M	214.50M
Enterprise Value	394.26M	304.09M	102.82M	77.56M	-25.94M	7.39M	91.10M	36.18M	-31.74M	216.72M	48.79M	81.90M
Calculated Values
Free Cash Flow TTM	-76.51M	-92.85M	-85.62M	-90.76M	-97.06M	-109.94M	-131.23M	-152.49M	-139.20M	-103.71M	-96.57M	-100.11M
Net Debt	-195.77M	-217.49M	-66.35M	-70.44M	-40.02M	-41.04M	-56.48M	-98.20M	-148.00M	-61.27M	-100.25M	-132.60M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
PEG Ratio
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
EV Revenue TTM
EV FCF TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-05-12Sale

Owner: Kirske, David

Title: Chief Financial Officer

Shares: 16,961

Price/Share: $4.29

Value: $72,762.69

Shares Owned: 176,293

Relationship: Officer

Ownership: Direct

2025-10-23Purchase

Owner: Craig, Adam R

Title: Executive Chairman

Shares: 86,206

Price/Share: $2.90

Value: $249,997.40

Shares Owned: 376,087

Relationship: Director,Officer

Ownership: Direct

2025-05-16Purchase

Owner: Baldry, Mark

Title: Chief Commercial Officer

Shares: 1,032

Price/Share: $2.48

Value: $2,559.36

Shares Owned: 25,337

Relationship: Officer

Ownership: Direct

2025-01-24Sale

Owner: Mostafa, Adam S.

Title: Chief Financial Officer

Shares: 74,773

Price/Share: $0.45

Value: $33,647.85

Shares Owned: -

Relationship: Officer

Ownership: Direct

2025-01-24Sale

Owner: Arbet-Engels, Christophe

Title: Chief Medical Officer

Shares: 11,624

Price/Share: $0.45

Value: $5,230.80

Shares Owned: 14,207

Relationship: Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-05-12	Kirske, David	Officer	Chief Financial Officer	Direct	Sale	16,961	4.29	$72,762.69	176,293	4
2025-10-23	Craig, Adam R	Director,Officer	Executive Chairman	Direct	Purchase	86,206	2.90	$249,997.40	376,087	4
2025-05-16	Baldry, Mark	Officer	Chief Commercial Officer	Direct	Purchase	1,032	2.48	$2,559.36	25,337	4
2025-01-24	Mostafa, Adam S.	Officer	Chief Financial Officer	Direct	Sale	74,773	0.45	$33,647.85	0	4
2025-01-24	Arbet-Engels, Christophe	Officer	Chief Medical Officer	Direct	Sale	11,624	0.45	$5,230.80	14,207	4
2025-01-24	Dibiase, Mary	Officer	Chief Operating Officer	Direct	Sale	22,258	0.45	$10,016.10	490,980	4
2025-01-24	Baldry, Mark	Officer	Chief Commercial Officer	Direct	Sale	29,159	0.45	$13,121.55	94,123	4
2025-01-24	Ragan, Paula	Director,Officer	President and CEO	Direct	Sale	76,473	0.45	$34,412.85	1,087,386	4
2024-11-15	Baldry, Mark	Officer	Chief Commercial Officer	Direct	Purchase	13,404	0.34	$4,557.36	129,173	4
2024-11-15	Ragan, Paula	Director,Officer	President and CEO	Direct	Sale	31,897	0.39	$12,439.83	993,919	4
2024-10-15	Ragan, Paula	Director,Officer	President and CEO	Direct	Sale	31,897	0.56	$17,862.32	1,025,816	4
2024-10-07	Mostafa, Adam S.	Officer	Chief Financial Officer	Direct	Sale	230,645	0.55	$126,854.75	0	4
2024-10-07	Baldry, Mark	Officer	Chief Commercial Officer	Direct	Sale	11,127	0.58	$6,453.66	48,509	4
2024-10-07	Ragan, Paula	Director,Officer	President and CEO	Direct	Sale	239,436	0.55	$131,689.80	1,057,713	4
2024-10-07	Dibiase, Mary	Officer	Chief Operating Officer	Direct	Sale	67,695	0.57	$38,586.15	452,060	4
2024-10-07	Taveras, Arthur	Officer	Chief Scientific Officer	Direct	Sale	76,920	0.56	$43,075.20	388,026	4
2024-09-09	Dibiase, Mary	Officer	Chief Operating Officer	Direct	Sale	2,642	0.66	$1,743.72	289,110	4
2024-03-11	Mostafa, Adam S.	Officer	Chief Financial Officer	Direct	Sale	52,500	0.88	$46,200.00	0	4
2024-03-11	Dibiase, Mary	Officer	Chief Operating Officer	Direct	Sale	15,409	0.88	$13,559.92	291,752	4
2024-03-11	Ragan, Paula	Director,Officer	President and CEO	Direct	Sale	49,678	0.88	$43,716.64	765,068	4
2024-03-11	Taveras, Arthur	Officer	Chief Scientific Officer	Direct	Sale	14,235	0.88	$12,526.80	234,301	4
2024-02-12	Taveras, Arthur	Officer	Chief Scientific Officer	Direct	Sale	787	1.01	$794.87	248,536	4
2024-02-12	Ragan, Paula	Director,Officer	President and CEO	Direct	Sale	21,695	1.01	$21,911.95	814,746	4
2024-02-12	Mostafa, Adam S.	Officer	Chief Financial Officer	Direct	Sale	27,721	1.01	$27,998.21	52,500	4
2024-02-12	Dibiase, Mary	Officer	Chief Operating Officer	Direct	Sale	3,683	1.01	$3,719.83	307,161	4
2023-11-03	Ragan, Paula	Director,Officer	President and CEO	Direct	Sale	39,906	0.90	$35,915.40	836,441	4
2023-11-01	Mostafa, Adam S.	Officer	Chief Financial Officer	Direct	Sale	230,645	0.73	$168,370.85	80,221	4
2023-11-01	Taveras, Arthur	Officer	Chief Scientific Officer	Direct	Sale	67,695	0.73	$49,417.35	249,323	4
2023-11-01	Dibiase, Mary	Officer	Chief Operating Officer	Direct	Sale	67,695	0.73	$49,417.35	310,844	4
2023-11-01	Baldry, Mark	Officer	Chief Commercial Officer	Direct	Sale	10,257	0.73	$7,487.61	24,690	4
2023-09-08	Dibiase, Mary	Officer	Chief Operating Officer	Direct	Sale	2,642	1.25	$3,302.50	147,894	4
2023-08-18	Wyzga, Michael S	Director	-	Direct	Purchase	25,000	1.20	$30,000.00	76,667	4
2023-08-10	Stewart, Murray	Director,Officer	Interim Chief Medical Officer	Direct	Sale	130,056	1.06	$137,859.36	146,504	4
2023-06-30	Mostafa, Adam S.	Officer	Chief Financial Officer	Direct	Sale	2,641	1.89	$4,991.49	80,221	4
2023-06-30	Dibiase, Mary	Officer	Chief Operating Officer	Direct	Sale	464	1.89	$876.96	150,536	4
2023-06-23	Ragan, Paula	Director,Officer	President and CEO	Direct	Sale	6,724	1.92	$12,910.08	543,797	4
2023-06-23	Dibiase, Mary	Officer	Chief Operating Officer	Direct	Sale	857	1.93	$1,654.01	151,000	4
2023-06-23	Mostafa, Adam S.	Officer	Chief Financial Officer	Direct	Sale	5,417	1.93	$10,454.81	82,862	4
2023-06-15	Dibiase, Mary	Officer	Chief Operating Officer	Direct	Sale	857	2.23	$1,911.11	151,857	4
2023-06-15	Mostafa, Adam S.	Officer	Chief Financial Officer	Direct	Sale	5,417	2.22	$12,025.74	88,279	4
2023-06-15	Ragan, Paula	Director,Officer	President and CEO	Direct	Sale	6,724	2.23	$14,994.52	550,521	4
2023-05-31	Ragan, Paula	Director,Officer	President and CEO	Direct	Sale	6,292	1.95	$12,269.40	557,245	4
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Institutional Ownership

No data available for chart

2026-03-31

71.60%

Inst. Shares: 90,424,089

Shares Outstanding: 126,288,723

2025-12-31

203.10%

Inst. Shares: 85,897,374

Shares Outstanding: 42,292,818

2025-09-30

31.55%

Inst. Shares: 13,652,271

Shares Outstanding: 43,272,773

2025-06-30

26.88%

Inst. Shares: 1,992,826

Shares Outstanding: 7,412,990

2025-03-31

Inst. Shares: 97,923,755

Shares Outstanding: 6,840,035

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	90,424,089	126,288,723	71.60%
2025-12-31	85,897,374	42,292,818	203.10%
2025-09-30	13,652,271	43,272,773	31.55%
2025-06-30	1,992,826	7,412,990	26.88%
2025-03-31	97,923,755	6,840,035	-
2024-12-31	97,742,133	6,702,073	-
2024-09-30	99,443,212	6,695,509	-
2024-06-30	100,994,711	6,681,349	-
2024-03-31	101,899,718	6,666,386	-
2023-12-31	94,688,657	5,921,156	-
2023-09-30	111,240,465	6,559,695	-
2023-06-30	112,869,868	5,618,968	-
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X4 Pharmaceuticals, Inc (XFOR) — SEC Financial Statements & Analysis

X4 Pharmaceuticals, Inc (XFOR) is a biological products, (no diagnostic substances) company, incorporated in DE. X4 Pharmaceuticals, Inc trades on Nasdaq as: XFOR. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), X4 Pharmaceuticals, Inc reported a -51.65% year-over-year revenue growth, a Gross Profit Margin of 81.51% (TTM), a Debt-to-Equity ratio of 0.63x, a Price-to-Sales (P/S) ratio of 37.23x (TTM), a Price-to-Book (P/B) ratio of 3.80x (TTM), at a market cap of $590.03M. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: -51.65%
Gross Profit Margin TTM: 81.51%
Debt To Equity: 0.63x
P/S TTM: 37.23x
P/B TTM: 3.80x
Market Cap: $590.03M

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is X4 Pharmaceuticals, Inc in?

X4 Pharmaceuticals, Inc (XFOR) operates in the Biological Products, (No Diagnostic Substances) industry.

What is XFOR's market cap?

X4 Pharmaceuticals, Inc (XFOR) has a market capitalization of $590.03M as of 2026-06-30.

What exchange does XFOR trade on?

X4 Pharmaceuticals, Inc (XFOR) trades on the Nasdaq.

Where is X4 Pharmaceuticals, Inc incorporated?

X4 Pharmaceuticals, Inc is incorporated in DE.