10:37 AM EST, 02/06/2025 (MT Newswires) -- X4 Pharmaceuticals ( XFOR ) said Thursday that it is reducing its headcount by 43 employees, or about 30% of the workforce, ending research activities, and closing the Vienna, Austria facility.

The company said it expects to save $30 million to $35 million annually and have enough funds to support operations through H1 2026. The workforce reductions will be completed by Q1 2025.

X4 said it is restructuring its workforce and capital spending to focus on advancing mavorixafor for chronic neutropenia and promoting Xolremdi, or mavorixafor, in the US for warts, hypogammaglobulinemia, infections and myelokathexis syndrome.

The company is also pausing pre-clinical drug programs and scaling down the US commercial field team.

Shares of X4 fell 6% in recent trading.

Price: 0.58, Change: -0.04, Percent Change: -6.00