X4 slashes pipeline, lays off staff just three weeks after netting a $55M PIPE
Not even a PIPE financing could save X4 Pharmaceuticals from enacting layoffs and trimming its pipeline.
The Boston biotech revealed Wednesday afternoon that it would downsize its research to focus on its lead program, mavorixafor, and lay off about 20% of its staff. The move comes less than three weeks after X4 pulled together a $55 million PIPE and amended a loan facility with Hercules Capital to reduce cash burn.
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