X4 Pharmaceuticals to reduce 50% of workforce

* X4 Pharmaceuticals (NASDAQ:XFOR [https://seekingalpha.com/symbol/XFOR]) has announced a restructuring program to align resources with its long-term strategy to complete the Phase 3 4WARD trial for chronic neutropenia.
* The plan includes cutting 50% of its workforce, expected to save about $13M annually. As part of the workforce reduction, chief legal & compliance officer Natasha Thoren; chief operating officer Mary DiBiase; and chief commercial officer Mark Baldry will be exiting the firm. John Volpone has been appointed chief operating officer, in addition to his current role as president.
* Chief medical officer Christophe Arbet‑Engels is resigning for personal reasons and will remain available to support transition activities. Adam Craig, executive chairman, will oversee clinical development.
* XFOR +2.49% premarket to $3.29
* Source: Press Release [https://seekingalpha.com/pr/20235145-x4-pharmaceuticals-announces-restructuring-of-business-operations-designed-to-drive-long-term]

MORE ON X4 PHARMACEUTICALS

* Seeking Alpha’s Quant Rating on X4 Pharmaceuticals [https://seekingalpha.com/symbol/XFOR/ratings/quant-ratings]
* Historical earnings data for X4 Pharmaceuticals [https://seekingalpha.com/symbol/XFOR/earnings]
* Financial information for X4 Pharmaceuticals [https://seekingalpha.com/symbol/XFOR/income-statement]