2023-05-16 08:56:24 ET
- X4 Pharmaceuticals ( NASDAQ: XFOR ) has agreed to sell an aggregate of ~42.78M shares to certain institutional accredited investors in a private investment in public equity financing.
- X4 anticipates that gross proceeds from the PIPE will be ~$65M.
- The closing of the financing is expected to occur on or about May 18, 2023.
- Inclusive of the net proceeds from this transaction, X4 now expects its cash and cash equivalents to fund operations into Q4 2024, excluding the potential proceeds from the sale of a priority review voucher, for which the company is eligible and may receive in H1 2024.
- The stock price is up 12% during pre-market on Tuesday.
For further details see:
X4 Pharmaceuticals scales 12% on $65M private placement