- X4 Pharmaceuticals Inc (NASDAQ: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.
- Related: Why Did X4 Pharmaceuticals Shares Crater To 52-Week Low?
- 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.
Mizuho Maintains Buy on Syneos Health, Lowers Price Target to $87
Mizuho analyst Ann Hynes maintains Syneos Health (NASDAQ:SYNH) with a Buy and lowers the price target from $94 to $87.
