X4 Pharma To Halve Headcount Amid Efforts To Complete Neutropenia Trial

The workforce reduction is expected to result in annualized cost savings of approximately $13 million, the company said.

X4 Pharmaceuticals (XFOR) announced on Wednesday that it will reduce its workforce by 50% as part of a strategic restructuring.

The workforce reduction is expected to result in annualized cost savings of approximately $13 million, the company said. The strategic restructuring is aimed at aligning resources to complete the late-stage trial in patients with moderate and severe chronic neutropenia, it added.

Shares of the company rose 2% in the pre-market session at the time of writing. 

Get updates to this developing story <directly on Stocktwits.<