X4 Pharmaceuticals (XFOR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

X4 Pharmaceuticals

NasdaqCM•Healthcare•Biotechnology

$4.040.00(0.00%)Market closed

Market Cap

$443.47M

P/S

28.0x

P/B

2.9x

X4 Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the research, development, and commercialization of novel therapeutics for the treatment of rare diseases of the immune system. It offers XOLREMDI, an orally small-molecule selective antagonist of chemokine receptor CXCR4, which is in phase 3 clinical trial for the treatment of patients with warts, hypogammaglobulinemia, infections, and myelokathexis syndrome. It has a license agreement with Abbisko Therapeutics Co Ltd. to manufacture and distribute XOLREMDI in mainland China, Taiwan, Hong Kong and Macau; Norgine to develop, manufacture, and commercialize mavorixafor in Europe, Australia, and New Zealand; and Genzyme Corporation for CXCR4 receptor to develop and commercialize products containing licensed compounds for all therapeutic, prophylactic and diagnostic uses. The company is headquartered in Boston, Massachusetts.

How this company scores

AverageMetricSide Score: 57/100

Strongest: Balance Sheet & Red Flags (21/25); weakest: Cash & Earnings Quality (8/25).

Profitability17/25

Growth11/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality8/25

Strengths

Long cash runwayLow leverageProfit converts from growthImproving leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 3.3x5y range 3.3x – 197.8x

P/S · 28.0x5y range 0.4x – 4982.4x

Currently near its 9-quarter median.

P/B · 2.9x5y range 0.9x – 8165.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $443.47M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $15.85M
Q. Revenue: $8.81M
TTM EBITDA: $-85.66M
TTM Op. Income: $-87.91M
Q. Op. Income: $-16.39M
TTM Net Income: $-90.14M
Q. Net Income: $-16.16M
EPS: $-0.13
Shares Out.: $126.34M

$15.85M in TTM revenue declined 51.4% YoY, reaching $8.81M last quarter. TTM EBITDA of $-85.66M and TTM operating income of $-87.91M show growth is flowing through to the bottom line. However, net income is negative at $90.14M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is down 51% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -174.8%
Op. Margin: -186.1%
Net Margin: -183.5%

Op. margin of -186.1% is up 1143.4% YoY — cost efficiency is improving. Net margin at -183.5% Across the last 8 quarters, operating margin has risen for 3 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 28.0x
P/B Ratio: 2.9x

P/S of 28.0x and P/B of 2.9x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $253.06M
Cash: $195.09M
Long-Term Debt: $75.00M
Book Value: $155.45M
D/E Ratio: 0.5
Debt/EBITDA: N/A

With $253.06M in assets and $75.00M in long-term debt, D/E is 0.5and book value is $155.45M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-20.79M
TTM Free Cash Flow: $-83.74M
FCF Margin: -528.4%
FCF / Net Income: 0.9

TTM FCF of $-83.74M on $-20.79M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 23% — an improving trend.