Intel stock extends gains after report of possible U.S. government stake
Investing.com - H.C. Wainwright lowered its price target on X4 Pharmaceuticals (NASDAQ:XFOR) to $3.50 from $7.00 on Tuesday, while maintaining a Buy rating on the stock. According to InvestingPro data, analyst targets for XFOR range from $4 to $120, with the stock currently trading at $2.58 after surging over 63% in the past week.
The firm’s adjustment follows X4’s announcement on Monday of a new leadership team and board of directors, alongside a $60 million private placement expected to close Wednesday. The funding comes at a crucial time, as InvestingPro analysis shows the company has been quickly burning through cash, though maintaining a healthy current ratio of 3.19.
X4 appointed Adam Craig as Executive Chair, John Volpone as President, and David Kirske as CFO, all of whom previously held leadership positions at CTI BioPharma, which Swedish Orphan Biovitrum acquired in June 2023 for approximately $1.7 billion.
H.C. Wainwright expressed encouragement about the management change, noting the new team’s previous experience developing and commercializing therapy for myelofibrosis, a rare blood cancer.
The analyst also highlighted that the fundraising strengthens X4’s balance sheet and helps meet Hercules Loan covenant obligations, with the price target reduction reflecting updated financial modeling based on second-quarter 2025 results and the pending private placement.
In other recent news, X4 Pharmaceuticals has successfully closed an upsized private placement, raising $85 million through the sale of common stock and pre-funded warrants. This move comes after the company initially announced a $60 million offering but decided to increase the amount to accommodate an investor with a pre-existing investment right. The financing was led by Coastlands Capital, with significant participation from Bain Capital Life Sciences and New Enterprise Associates, among others. Additionally, X4 Pharmaceuticals has announced leadership changes, bringing in new executives with turnaround experience.
The company also presented positive data from its Phase 2 trial of mavorixafor for treating chronic neutropenic conditions at the European Hematology Association Congress. In a related development, the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to mavorixafor, which is currently in a global Phase 3 trial. This designation is part of the FDA’s effort to expedite the review of drugs that address unmet medical needs. Mavorixafor has already received FDA approval for WHIM syndrome, another rare immunodeficiency, earlier this year.
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