X4 Pharmaceuticals, after receiving FDA accelerated approval for its rare disease drug XOLREMDI (mavorixafor) for WHIM syndrome, has embarked on commercial launches and pivotal Phase 3 trials targeting chronic neutropenia. The company’s recent financials show increasing revenue from product sales and license fees but also sharp rises in operating losses driven by both clinical trial expenses and restructuring charges. Capital raises in late 2025 bolstered liquidity, funding operations through 2028, as the firm continues scaling back non-core programs to concentrate resources on mavorixafor’s broader indications. Key near-term catalysts include pivotal Phase 3 enrollment completion in Q3 2026 and expected EMA approval for WHIM syndrome in Q2 2026.