X4 Pharmaceuticals Restructures As CMO Resigns; 50% Workforce Cut Targets $13 Mln Savings

(RTTNews) - X4 Pharmaceuticals, Inc. (XFOR), on Wednesday, announced that Chief Medical Officer Christophe Arbet-Engels has resigned for personal reasons and Chief Operating Officer Mary DiBiase will leave the company. The company has appointed President John Volpone appointed Chief Operating Officer.

The company said that Christophe Arbet-Engels will continue to assist during the transition period.

Chief Legal & Compliance Officer Natasha Thoren and Chief Commercial Officer Mark Baldry are also leaving the company.

The company said the move is a strategic restructuring to sharpen operational focus and align resources with its long-term goal of completing the 4WARD Phase 3 trial in chronic neutropenia.

The plan includes a 50% workforce reduction, expected to deliver annualized cost savings of about $13 million.

Executive Chairman Dr. Adam Craig will lead clinical development.

In the pre-market trading, X4 Pharmaceuticals is 0.93% lesser at $3.1800 on the Nasdaq.