X4 Pharmaceuticals, Inc
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
XFOR$3.33+4.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. FINANCIAL STATEMENTS
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share amounts)
(unaudited)
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $69,632 | $55,699 |
| Accounts receivable | 891 | 1,070 |
| Marketable securities | 52,562 | 46,361 |
| Research and development incentive receivable | 715 | 640 |
| Inventory | 4,080 | 2,817 |
| Prepaid expenses and other current assets | 4,925 | 5,588 |
| Total current assets | 132,805 | 112,175 |
| Property and equipment, net | 218 | 776 |
| Goodwill | 17,351 | 17,351 |
| Intangible asset, net | 9,438 | 10,000 |
| Right-of-use assets | 1,775 | 4,065 |
| Other assets | 1,968 | 2,080 |
| Total assets | $163,555 | $146,447 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $5,053 | $8,621 |
| Accrued expenses | 16,661 | 23,005 |
| Deferred revenue | 592 | — |
| Current portion of lease liability | 1,200 | 1,251 |
| Total current liabilities | 23,506 | 32,877 |
| Long-term debt, including accretion, net of discount | 76,062 | 75,425 |
| Lease liabilities | 95 | 1,410 |
| Warrant liability | 959 | 13,755 |
| Deferred revenue | 789 | — |
| Other liabilities | 525 | 831 |
| Total liabilities | 101,936 | 124,298 |
| Commitments and contingencies (Note 10) | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.001 par value. 10,000,000 shares authorized and no shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | — | — |
| Common stock, $0.001 par value, 500,000,000 shares authorized as of September 30, 2025 and December 31, 2024, respectively; 25,146,411 and 5,698,231 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 25 | 6 |
| Additional paid-in capital | 632,341 | 537,620 |
| Accumulated other comprehensive loss | (118) | (122) |
| Accumulated deficit | (570,629) | (515,355) |
| Total stockholders’ equity | 61,619 | 22,149 |
| Total liabilities and stockholders’ equity | $163,555 | $146,447 |
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