X4 Pharmaceuticals, Inc
For the period ended Dec 31, 2025. Filed Mar 17, 2026.
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FY2025 · Filed Mar 17, 2026
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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Consolidated Balance Sheets F-
(In thousands, except share and per share amounts)
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $217,049 | $55,699 |
| Accounts receivable | 573 | 1,070 |
| Marketable securities | 35,949 | 46,361 |
| Research and development incentive receivable | — | 640 |
| Inventory | 4,479 | 2,817 |
| Prepaid expenses and other current assets | 3,527 | 5,588 |
| Total current assets | 261,577 | 112,175 |
| Property and equipment, net | 182 | 776 |
| Goodwill | 17,351 | 17,351 |
| Intangible asset, net | 9,250 | 10,000 |
| Right-of-use assets | 1,409 | 4,065 |
| Other assets | 692 | 2,080 |
| Total assets | $290,461 | $146,447 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $5,696 | $8,621 |
| Accrued expenses | 18,603 | 23,005 |
| Deferred revenue | 464 | — |
| Current portion of lease liability | 994 | 1,251 |
| Total current liabilities | 25,757 | 32,877 |
| Long-term debt, including accretion, net of discount | 76,291 | 75,425 |
| Lease liabilities | — | 1,410 |
| Warrant liability | 977 | 13,755 |
| Deferred revenue | 621 | — |
| Other liabilities | 525 | 831 |
| Total liabilities | 104,171 | 124,298 |
| Commitments and contingencies (Note 13) | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.001 par value. 10,000,000 shares authorized and no shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | — | — |
| Common stock, $0.001 par value, 500,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 90,906,920 and 5,698,231 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 91 | 6 |
| Additional paid-in capital | 780,862 | 537,620 |
| Accumulated other comprehensive loss | (109) | (122) |
| Accumulated deficit | (594,554) | (515,355) |
| Total stockholders’ equity | 186,290 | 22,149 |
| Total liabilities and stockholders’ equity | $290,461 | $146,447 |
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