X4 Pharmaceuticals, Inc
For the period ended Dec 31, 2025. Filed Mar 17, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 17, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 1. 1
- Net Loss Per Share
Basic and diluted net loss per share was calculated as follows:
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands, except share and per share data) | 2025 | 2024 | 2023 |
| Numerator: | |||
| Net loss | $(79,199) | $(37,450) | $(101,167) |
| Denominator: | |||
| Weighted average shares of common stock outstanding—basic and diluted | 42,292,818 | 6,702,073 | 5,927,082 |
| Net loss per share— basic and diluted | $(1.87) | $(5.59) | $(17.07) |
Basic and diluted weighted average shares of common stock outstanding for the years ended December 31, 2025, 2024 and 2023 includes the weighted average effect of pre-funded warrants for the purchase of shares of common stock, for which the remaining unfunded exercise price is less than or equal to $0.30 per share.
For each of the years ended December 31, 2025, 2024, and 2023, during which the Company recorded net loss, the Company’s potentially dilutive securities included outstanding stock options, unvested restricted stock units and warrants to purchase shares of common stock. These potentially dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share, and thus they are considered “anti-dilutive.” Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same for these periods.
The Company excluded the following potential shares of common stock from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect:
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Options to purchase shares of common stock | 12,080,718 | 394,783 | 402,690 |
| Unvested restricted stock units | 73,381 | 200,060 | 265,874 |
| Warrants to purchase shares of common stock (excluding prefunded warrants, which are included in basic shares outstanding) | 2,545,948 | 2,545,960 | 2,545,960 |
| 14,700,047 | 3,140,803 | 3,214,524 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.