X4 Pharmaceuticals, Inc
For the period ended Dec 31, 2025. Filed Mar 17, 2026.
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FY2025 · Filed Mar 17, 2026
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Item 7A.
- Leases
The Company has a lease agreement for its facilities in Boston, Massachusetts, which is the Company’s principal executive offices, and previously had a lease in Vienna, Austria (the “Vienna Lease”), which was previously the Company’s research and development center. There are no restrictions or financial covenants associated with any of the lease agreements.
Boston Lease— The Company leases approximately 28,000 square feet of office space in Boston, Massachusetts (“Boston Lease”), which serves as the Company’s headquarters. Base rental payments are approximately $1.1 million annually, plus certain operating expenses. The term of the Boston Lease will continue until November 2026, unless earlier terminated. The Company is required to maintain a security deposit in the form of a letter of credit for $0.6 million for the benefit of the landlord.
Vienna Austria Lease— The Company had an operating lease for approximately 1,200 square meters of laboratory and office space in Vienna, Austria that commenced in February 2021 for a term ofseven years. Effective November 30, 2025, the Company terminated the Vienna Lease in accordance with a lease amendment entered into with the landlord. Accordingly, the Company accelerated the amortization of the right-of-use asset to zero and adjusted the remaining lease obligation to zero as of December 31, 2025.
The components of lease expense for the years ended December 31, 2025, 2024 and 2023 were as follows:
| (dollars in thousands) | Year Ended December 31, | ||
|---|---|---|---|
| Lease Cost | 2025 | 2024 | 2023 |
| Fixed operating lease cost | $2,120 | $1,953 | $2,084 |
| Total lease expense | $2,120 | $1,953 | $2,084 |
| Other information | |||
| Sublease income | $— | $— | $195 |
| Operating cash outflows from operating leases | $1,398 | $1,377 | $1,385 |
| Weighted-average remaining lease term | 0.9 years | 2.3 years | 3.2 years |
| Weighted-average discount rate | 11.5% | 11.5% | 11.5% |
Maturities of lease liabilities due under lease agreements as of December 31, 2025 are as follows (in thousands):
| Maturity of lease liabilities | OperatingLeases |
|---|---|
| 2026 | $1,052 |
| Total lease payments | 1,052 |
| Less: interest | (58) |
| Total operating lease liabilities as of December 31, 2025 | $994 |
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