--- title: "X4 Pharmaceuticals agrees to $60 million private placement and replaces CEO" url: "https://aibio.space/news/x4-pharmaceuticals-agrees-60-million-private-placement-replaces-ceo/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-08-12" section: "Financings" tickers: "NASDAQ:XFOR" source: "https://www.sec.gov/Archives/edgar/data/1501697/000162828025039770/ex-991pressreleaseaugust12.htm" summary: "Stifel is sole placement agent for the PIPE, which Coastlands Capital led at $1.42 per share. Closing was expected on or about August 13, 2025." --- By the aibio.space news desk. Sources - [X4 Pharmaceuticals, Inc. 8-K (2025-08-12)](https://www.sec.gov/Archives/edgar/data/1501697/000162828025039770/ex-991pressreleaseaugust12.htm) - [X4 Pharmaceuticals, Inc. 10-K (2025-03-26): business](https://www.sec.gov/Archives/edgar/data/1501697/000162828025014805/xfor-20241231.htm) [XFOR](https://aibio.space/companies/x4-pharmaceuticals/) 2025-08-12 # X4 Pharmaceuticals agrees to $60 million private placement and replaces CEO and CFO Tickers [XFOR](https://aibio.space/companies/x4-pharmaceuticals/) Stifel is sole placement agent for the PIPE, which Coastlands Capital led at $1.42 per share. Closing was expected on or about August 13, 2025. ## Key facts - **Company**: X4 Pharmaceuticals, Inc. (NASDAQ: XFOR) - **News type**: Financings - **Primary source**: [X4 Pharmaceuticals, Inc. 8-K (2025-08-12)](https://www.sec.gov/Archives/edgar/data/1501697/000162828025039770/ex-991pressreleaseaugust12.htm) *A city skyline seen across a river. Photo: Matt Bango, CC0, via StockSnap. The picture shows the field, not the companies named.* ## The PIPE terms X4 Pharmaceuticals, Inc. (Nasdaq: [XFOR](https://aibio.space/companies/x4-pharmaceuticals/)) said on August 12, 2025 that it had signed a securities purchase agreement for a private investment in public equity, or PIPE. The financing is expected to bring gross proceeds of about $60 million, before placement agent fees and other expenses. The closing was expected on or about August 13, 2025, subject to customary conditions. Under the agreement, X4 will issue 11,040,776 shares of common stock, or pre-funded warrants to buy up to 31,234,731 shares in their place. The purchase price is $1.42 per share, or $1.419 per pre-funded warrant. The pre-funded warrants carry an exercise price of $0.001 a share, can be exercised at any time after issue and do not expire. The release gives the share count and the warrant count together and does not say how the securities will be split between common shares and pre-funded warrants. The shares were not registered under the Securities Act of 1933. X4 has agreed to file a registration statement for the resale of the common shares and of the shares underlying the pre-funded warrants. ## Who is involved Coastlands Capital led the financing. Existing investors Bain Capital Life Sciences and New Enterprise Associates support it, along with BVF Partners LP, Deep Track Capital, Kalehua Capital, Nantahala Capital, Stonepine Capital Management and Trails Edge Capital Partners. Stifel is the sole placement agent. The release names no company counsel and no counsel to the investors. X4 says it will use the net proceeds to keep developing mavorixafor toward a potential additional approval in chronic neutropenia, and to commercialize it for WHIM syndrome. ## A new management team on the same day The financing came with a management change. President and chief executive Paula Ragan, PhD, and chief financial officer Adam Mostafa stepped down, effective immediately. Ragan also left the board. Michael Wyzga moved from board chair to lead independent director. In their place, the board appointed Adam Craig, PhD, as executive chair, John Volpone as president and David Kirske as chief financial officer. All three previously worked at CTI BioPharma. The release says Craig led that company's restructuring and oversaw the approval and launch of its first product before its $1.7 billion acquisition by Sobi. Kirske was chief financial officer of Stratus Therapeutics, formerly Garuda Therapeutics, and Craig is still on that company's board. The chief executive and finance chief leave in the same announcement that discloses the raise. The release does not give a separate reason for the exits. ## The product behind the raise The company's business is mavorixafor, which its 10-K says the FDA approved in April 2024 under the trade name XOLREMDI. The approval covers an oral, once-daily therapy for patients 12 years and older with WHIM syndrome, a rare immune disorder. The 10-K says X4 is also seeking to commercialize the drug outside the United States, and it reports a February 2025 agreement with Taiba Middle East Fz LLC to distribute XOLREMDI in selected Middle East and North African countries. The chronic neutropenia plan depends on a trial still under way. The 10-K identifies the pivotal Phase 3 4WARD study as a 52-week, global, randomized, double-blind, placebo-controlled, multicenter trial aiming to enroll 150 participants with chronic neutropenic disorders. Neither the 10-K nor the release reports results. The 10-K also says the European Medicines Agency is evaluating a marketing authorisation application for WHIM syndrome, validated in January 2025, and that Norgine Pharma UK Limited holds an exclusive licence to commercialize mavorixafor in Europe, Australia and New Zealand after any approvals. The release gives no cash balance and no runway estimate. It describes the proceeds only as development and commercialization spending. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story XFOR X4 Pharmaceuticals, Inc. 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Cite as: aibio.space, "X4 Pharmaceuticals agrees to $60 million private placement and replaces CEO", 2025-08-12, https://aibio.space/news/x4-pharmaceuticals-agrees-60-million-private-placement-replaces-ceo/