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X4 Pharmaceuticals nets $80.2mm through public offering
X4 Pharmaceuticals Inc. (treatments for rare diseases and cancers) netted $80.2mm through a public offering. The company sold 5.67mm common shares at $11, and issued pre-funded warrants to purchase 2.13mm shares at a price of $10.999 per pre-funded warrant. Investors also received five-year Class A warrants buy 3.9mm common at an exercise price of $13.20. Proceeds will enable the company to support a Phase III pivotal trial of mavorixafor in patients with WHIM (Warts, Hypogammaglobulinemia, Infections, and Myelokathexis) syndrome; begin a Phase I trial with mavorixafor for severe congenital neutropenia; initiate a Phase I/II study with mavorixafor in Waldenström macroglobulinemia; and to fund additional R&D and corporate needs.
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