Is X4 Pharmaceuticals going out of business?

X4 PHARMACEUTICALS, INC (XFOR) Fundamentals

A quick summary of the latest filed figures while the full analysis loads.

X4 PHARMACEUTICALS, INC (XFOR) scores 18 out of 100 on fundamentals, Distressed / Caution, based on SEC filing data.

Leading signal: Shares dilution YoY: 1680.15% (YoY)

Five questions, kept separate

Survival - Stable

23-32 mo of estimated runway from 2026-06-30, based on $195M of cash and short-term investments against $86.1M of annual burn. Adjusted shares outstanding increased 1680.1% over the comparison year.

Business quality - Pre-commercial

Operating margins cannot grade a pipeline; Survival and clinical evidence remain the relevant lenses here.

Trajectory - Clinical progress unavailable

Fundamentals can show funding and burn, but not whether the clinical pipeline is advancing.

Valuation - Reasonable

35% net-cash backing support a reasonable pre-commercial Valuation assessment.

Event risk - Evidence unavailable

No active asserted adverse event was found in the available filing evidence. The filing evidence is stale or incomplete, so this is not proof of absence.

What the rules read

• Shares dilution YoY: 1680.15% (YoY)
• FCF margin: -1324.89%
• Debt / Equity: -0.77x (Net Cash)
• ROIC: -275.39%
• Return on Assets: -31.30%
• Asset Growth Velocity: 140.63% YoY (Aggressive buildout)
• Debt Maturity Runway: 100% long-term (Long-term focused)
• Cash Runway (years): 2.27y
• Cash Burn Deceleration: -114.65% QoQ improvement (Worsening)
• Revenue growth YoY: 41.18% (YoY) - Early-Stage Surge (low base)
• Revenue per Asset Efficiency: 2.53% QoQ
• Revenue Quality: Acceptable quality (DSO +3d, Rev +41%)

Read from filings through 2026-08-06.

Price as of 2026-08-22.