FY2025 · ended Dec 31, 2025 · Revenue $35.11M, +1273.2% YoY · Filed Mar 17, 2026
X4 Pharmaceuticals, Inc (XFOR) files with the SEC under industry code 2836, Biological Products, (No Diagnostic Substances). In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $35.1 million and a net loss of $79.2 million. Free cash flow was -$85.6 million. As of Jun 30, 2026 it held $208.0 million in cash and investments and $75.5 million in total debt.
Revenue (TTM)
$15.85M
-51.6% vs year-ago TTM
Net income (TTM)
$-90.14M
+11.6% vs year-ago TTM
Operating cash flow (TTM)
$-83.74M
+23.4% vs year-ago TTM
Free cash flow
$-85.62M
+34.8% vs prior year
EPS (TTM)
$-0.89
+94.0% vs year-ago TTM
Dividend per share
None
Shares outstanding
90.92M
-47.6% vs prior year
Net cash
$132.50M
as of Jun 30, 2026
Operating margin
-554.7%
FY 2026
Company profile
- Industry
- Biological Products, (No Diagnostic Substances) (SIC 2836)
- Listed as
- XFOR (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Boston, MA
- SEC filer status
- Non-accelerated filer, Smaller reporting company
- SEC CIK
- 1501697
- Former names
- Arsanis, Inc. (until Mar 13, 2019)
Other Biological Products, (No Diagnostic Substances) companies
- Amgen Inc AMGN
- Gilead Sciences, Inc. GILD
- Moderna, Inc. MRNA
- Argenx SE ARGX
- Revolution Medicines, Inc. RVMD
- Biogen Inc. BIIB
- BioNTech SE BNTX
- Exelixis, Inc. EXEL
All 182 Biological Products, (No Diagnostic Substances) companies
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $35.1M | $2.6M | — | $0 | $0 |
| Operating income | -$86.9M | -$36.4M | -$107.5M | -$87.6M | -$85.1M |
| Net income | -$79.2M | -$37.5M | -$101.2M | -$93.9M | -$88.7M |
| Diluted EPS | -$1.87 | -$5.59 | -$17.07 | -$1.52 | — |
| Operating cash flow | -$85.6M | -$130.9M | -$96.5M | -$77.1M | -$70.9M |
| Free cash flow | -$85.6M | -$131.2M | -$96.6M | -$77.2M | -$71.5M |
| Total assets | $290.5M | $146.4M | $147.3M | $155.6M | $117.2M |
| Total liabilities | $104.2M | $124.3M | $96.2M | $81.5M | $52.8M |
| Stockholders' equity | $186.3M | $22.1M | $51.1M | $74.1M | $64.4M |
| Cash and investments | $253.0M | $102.1M | $114.2M | $121.7M | $81.8M |
| Total debt | $76.0M | $77.7M | $58.7M | $38.4M | $39.8M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Nov 4, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Other events
|
Oct 29, 2026 | Oct 29, 2026 |
| 8-K |
Current report
Material agreement, Agreement ended, New debt, Unregistered share sale, Regulation FD disclosure
|
Oct 8, 2026 | Oct 7, 2026 |
| 8-K |
Current report
Other events
|
Sep 9, 2026 | Sep 8, 2026 |
| 8-K |
Current report
Other events
|
Sep 8, 2026 | Sep 8, 2026 |
| 10-Q | Quarterly report | Aug 6, 2026 | Jun 30, 2026 |
All 818 X4 Pharmaceuticals, Inc SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.