X4 Pharma To Stop Further Work On Oncology Programs, Looks For Partner(s) - X4 Pharmaceuticals (NASDAQ:XFOR)

X4 Pharmaceuticals Inc XFOR updated its strategic priorities that include streamlining resources to focus on advancing its lead candidate, mavorixafor, in WHIM syndrome and other chronic neutropenic disorders.
The company will be progressing its clinical and preclinical oncology programs only via a potential partnership(s).
Data readout from Phase 3 4WHIM trial of mavorixafor is expected in Q4 of 2022. The U.S. marketing application submission is anticipated in early 2H of 2023.
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The Phase 1b study data of mavorixafor in chronic neutropenic disorders is anticipated in Q3 of 2022.
The company is looking for a partner(s) for Waldenström's macroglobulinemia program, with additional Phase 1b data anticipated in early August 2022 and a preclinical candidate X4P-002 with potential in leukemias and lymphomas.
Discontinuation of further work on oncology programs and a workforce reduction of approximately 20% would save around $5 million in 2022 and $20 million in 2023.
Recent capital raise, debt restructuring, revised company focus, and projected cost reductions are expected to extend the cash runway into 3Q 2023.
Price Action: XFOR shares closed at $1.14 on Wednesday.