X4 Pharmaceuticals stock gets a smaller Phase 3 trial

X4 Pharmaceuticals stock gets a smaller Phase 3 trial after the FDA agreed to reduce the 4WARD study from 176 to 126 participants. The company said on September 8, 2026, that enrollment is expected to finish by year-end 2026, with topline data planned for the first half of 2028.

FDA accepts a smaller trial

According to X4 Pharmaceuticals on September 8, 2026, the FDA agreed that the reduced sample size maintains adequate overall power for the trial's co-primary endpoints. The study is evaluating mavorixafor in chronic neutropenia, an expansion opportunity beyond the company's approved XOLREMDI indication for WHIM syndrome.

The smaller design lowers the planned enrollment by 50 participants, but it does not remove execution risk. The company said the FDA's feedback is not binding and that the reduced sample size could affect the trial's ability to demonstrate statistically significant results.

Revenue beats the consensus

Q2 2026 also delivered a concrete operating comparison. MarketBeat reported revenue of USD 8.81 million against USD 2.42 million consensus and a quarterly loss of USD 0.13 per share versus a USD 0.18 consensus loss. The figures show commercial revenue growth, while the loss confirms that profitability remains a later milestone.

Analyst expectations remain wide. MarketBeat cited an average 12-month price target of USD 11.25 from six analysts, alongside four buy ratings, one hold and one sell, while Brookline projected a Q3 2026 loss of USD 0.20 per share.

Nasdaq quote and valuation

On Nasdaq, XFOR was trading at USD 2.95 on September 29, 2026, at 10:59 a.m. EDT, down 2.04 percent from USD 3.02. The stock's 52-week range was USD 2.80 to USD 4.83, and its market capitalization was USD 278.6 million on the same date.