Aug 12, 12:25 PM

X4 Pharmaceuticals Raises $60 Million in PIPE, Overhauls Top Management

X4 Pharmaceuticals said it has arranged a $60 million private investment in public equity led by Coastlands Capital, with Bain Capital Life Sciences and New Enterprise Associates among the participants. The company will sell 11.0 million common shares at $1.42 apiece and issue pre-funded warrants for up to 31.2 million additional shares at $1.419, with closing targeted for Aug. 13, subject to customary conditions. Concurrent with the financing, X4 overhauled its leadership. Chief Executive Officer Paula Ragan and Chief Financial Officer Adam Mostafa have stepped down and left the board. The board appointed former CTI BioPharma executives Adam Craig as Executive Chairman, John Volpone as President and David Kirske as CFO, citing their track record in operational turnarounds and drug commercialization. The Boston-based biotech intends to use the proceeds to advance mavorixafor, an oral CXCR4 antagonist, including the ongoing Phase 3 4WARD trial for chronic neutropenia and preparations to commercialize the drug for WHIM syndrome. X4 said Stifel is acting as sole placement agent for the PIPE.

#X4 Pharmaceuticals #Coastlands Capital #Bain Capital Life Sciences #New Enterprise Associates #X4 #Paula Ragan #Adam Mostafa #CTI BioPharma #Adam Craig #John Volpone #David Kirske #Boston #Stifel

Written with ChatGPT .

X4 Pharmaceuticals Raises $60 Million in PIPE, Overhauls Top Management

Sources

Additional media

Similar Stories

Similar Stories