X4 Pharmaceuticals secures up to $150 million debt facility with K2 HealthVentures

X4 Pharmaceuticals announced on October 8, 2026 that it entered into a senior secured term loan facility of up to $150 million with K2 HealthVentures LLC, dated as of the closing date of October 7, 2026. The Loan and Security Agreement was signed by X4 Pharmaceuticals and its wholly owned subsidiary X4 Therapeutics, Inc. as Borrowers, with K2 HealthVentures LLC acting as administrative agent and lender, providing for term loans of up to $150.0 million.¹

The first tranche of $80 million funded at closing and was used to repay in full all obligations, including $75 million of principal and related fees, under the Company's prior loan and security agreement, along with associated closing costs.¹ The total payoff amount to Hercules Capital was approximately $78.7 million, consisting of $75.0 million of outstanding principal, accrued and unpaid interest, the end of term charge and the prepayment charge, plus related fees and expenses.¹ An additional $70 million may be made available to X4 at the Company's request, subject to approval by K2HV and other conditions.¹

The Term Loans bear cash interest at a variable annual rate equal to the greater of 8.55% and the prime rate as reported in The Wall Street Journal plus 1.55%, payable monthly in arrears, plus paid-in-kind interest at a fixed rate of 1.0% per annum.¹ The agreement provides for interest-only payments through October 1, 2029, extendable to maturity if first U.S. commercial sales of mavorixafor in moderate to severe chronic neutropenia are achieved, with the loans maturing on October 1, 2030.¹

Lenders may also elect to convert up to $15.0 million in principal into common stock at a conversion price of $3.2341 per share, subject to certain limitations.¹

The company said it expects to complete enrollment in its Phase 3 4WARD trial by year-end 2026 and report topline results in the first half of 2028, according to CFO David Kirske.