Paula Ragan, X4 Pharmaceuticals CEO

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.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.