X4 Pharmaceuticals, Inc (XFOR) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 06, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 1417.6% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
94M
Potential Supply
0
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

XFOR currently has 94.3M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 1417.6% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 06, 2026

S-3 filing: This is an S-3 filing for X4 Pharmaceuticals, Inc. registering for sale common stock with an aggregate offering price of up to $75,000,000 through Jefferies LLC as sales agent.

94M 0
May 06, 2026

10-Q filing | 94.3M shares outstanding

94M 0
Aug 13, 2025

8-K filing: X4 Pharmaceuticals closed two private placements on August 13, 2025, raising $85 million through the sale of common stock and pre-funded warrants, with approximately 87.2 million fully diluted shares outstanding following the closing. ($25.0M proceeds)

87M 0
Aug 12, 2025

8-K filing: X4 Pharmaceuticals, Inc. entered into a securities purchase agreement with institutional accredited investors to issue and sell 11,040,776 shares of common stock at $1.42 per share and pre-funded warrants to purchase 31,234,731 shares of common stock at $1.419 per share, with expected gross proceeds of approximately $60 million.

5.8M 170K
Jun 23, 2025

8-K filing: X4 Pharmaceuticals, Inc. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, allowing the Company to sell up to $40,000,000 of its common stock to Lincoln Park, with the Company issuing 137,099 shares of Common Stock to Lincoln Park as a commitment fee.

5.8M 170K
May 01, 2025

10-Q filing | 5.8M shares outstanding

5.8M 170K
Apr 28, 2025
Stock Split

8-K filing: Stock split 1-for-30 | Outstanding: 173,662,376 → 5,788,166

5.8M 180K
Mar 26, 2025

10-K filing | 173.7M shares outstanding

170M 5.3M
Nov 13, 2024

10-Q filing | 170.5M shares outstanding

170M 8.4M
Aug 08, 2024

10-Q filing | 168.5M shares outstanding

170M 10M
May 07, 2024

10-Q filing | 167.9M shares outstanding

170M 11M
Mar 21, 2024

10-K filing | 177.8M shares outstanding

180M 1.1M
Nov 09, 2023

10-Q filing | 167.3M shares outstanding

170M 12M
Aug 14, 2023

S-3 filing: The company may offer shares of its common stock, shares of its preferred stock, various series of debt securities and warrants to purchase any of such securities, up to a total aggregate offering price of $300,000,000 from time to time in one or more offerings under this prospectus.

170M 10M
Aug 10, 2023

10-Q filing | 168.7M shares outstanding

170M 10M
Jun 09, 2023

S-3 filing: S-3 filing for common stock offering by selling stockholders.

120M 57M
May 16, 2023

8-K filing: X4 Pharmaceuticals, Inc. entered into a securities purchase agreement to issue and sell shares of common stock and pre-funded warrants in a private placement, expected to close around May 18, 2023, with gross proceeds of approximately $65 million. ($65.0M proceeds)

120M 14M
May 04, 2023

10-Q filing | 122.2M shares outstanding

120M 14M
Mar 21, 2023

10-K filing | 122.2M shares outstanding

120M 14M
Dec 09, 2022

8-K filing: X4 Pharmaceuticals, Inc. entered into an underwriting agreement for the issuance and sale of 52,300,000 shares of common stock, pre-funded warrants to purchase 6,800,000 shares of common stock, and Class C warrants to purchase 29,550,000 shares of common stock or pre-funded warrants at a price of $1.10 per share for common stock and $1.099 per pre-funded warrant, with an expected closing on or about December 9, 2022. ($65.0M proceeds)

69M 67M
Nov 03, 2022

10-Q filing | 69.2M shares outstanding

69M 67M
Aug 04, 2022

10-Q filing | 68.6M shares outstanding

69M 68M
Jul 29, 2022

S-3 filing: This S-3 filing relates to the resale from time to time of up to 101,850,730 shares of common stock of X4 Pharmaceuticals, Inc. by the selling stockholders.

31M 110M
Jul 01, 2022

8-K filing: X4 Pharmaceuticals, Inc. entered into a securities purchase agreement with institutional investors to issue and sell shares of common stock, pre-funded warrants, and warrants in a private placement, expecting gross proceeds of approximately $55 million. ($55.0M proceeds)

31M 3.5M
May 12, 2022

10-Q filing | 30.8M shares outstanding

31M 3.5M
Apr 22, 2022

S-3 filing: This prospectus covers the sale or other disposition by the Selling Stockholder of up to the total number of shares of our Common Stock that were issued to the Selling Stockholder pursuant to the Purchase Agreement, plus the total number of shares of our Common Stock issuable upon exercise of the pre-funded warrants issued to the Selling Stockholder pursuant to the Purchase Agreement, without giving effect to the Beneficial Ownership Limitation.

31M 3.5M
Mar 17, 2022

10-K filing | 30.8M shares outstanding

31M 0
Mar 03, 2022

8-K filing: X4 Pharmaceuticals, Inc. entered into a securities purchase agreement to issue and sell 900,000 shares of common stock at $1.80 per share and pre-funded warrants to purchase 766,666 shares of common stock at a price of $0.01 per share, with expected gross proceeds of approximately $3.0 million.

28M 2.5M
Jan 14, 2022

8-K filing: X4 Pharmaceuticals, Inc. entered into a purchase agreement with Lincoln Park Capital Fund, LLC, where the Company can sell shares of its common stock up to $50,000,000, and as an initial purchase, the Company sold 1,382,488 shares at $2.17 per share for approximately $3,000,000. ($3.0M proceeds)

28M 2.5M
Dec 23, 2021

S-3 filing: This prospectus relates to the resale from time to time of up to 2,008,032 shares of common stock, par value $0.001 per share, of X4 Pharmaceuticals, Inc. by the selling stockholder.

25M 5.9M
Nov 05, 2021

8-K filing: X4 Pharmaceuticals, Inc. entered into a securities purchase agreement with BCLS II Investco, LP, an affiliate of Bain Capital Life Sciences, for a private placement of pre-funded warrants to purchase 2,008,032 shares of common stock at a price of $0.01 per share, with the company expecting to receive gross proceeds of approximately $10.0 million. ($10.0M proceeds)

25M 3.9M
Nov 04, 2021

10-Q filing | 24.7M shares outstanding

25M 3.9M
Aug 03, 2021

10-Q filing | 24.9M shares outstanding

25M 3.8M
Jun 25, 2021

S-3 filing: Resale of 6,321,836 shares of common stock by selling stockholders.

24M 5M
May 06, 2021

10-Q filing | 23.7M shares outstanding

24M 0
Mar 19, 2021

8-K filing: X4 Pharmaceuticals, Inc. entered into a securities purchase agreement with institutional accredited investors to issue and sell 6,271,836 shares of common stock at $8.70 per share and pre-funded warrants to purchase 50,000 shares of common stock at $0.01 per share, expected to close on March 23, 2021, for gross proceeds of approximately $55.0 million. ($55.0M proceeds)

16M 6M
Mar 19, 2021

10-K filing | 17.4M shares outstanding

17M 4.9M
Nov 05, 2020

10-Q filing | 16.3M shares outstanding

16M 6M
Oct 19, 2020

S-3 filing: The company is filing an S-3 to register an offering of up to $150,000,000 in common stock, preferred stock, and debt securities from time to time.

16M 6.1M
Aug 07, 2020

S-3 filing: X4 Pharmaceuticals files an S-3 registration statement to offer up to $150,000,000 in various securities, including common stock, preferred stock, and debt securities, as well as up to $50,000,000 of common stock in an at-the-market offering.

16M 6.1M
Aug 04, 2020

10-Q filing | 16.2M shares outstanding

16M 0
May 07, 2020

10-Q filing | 16.1M shares outstanding

16M 0
Mar 12, 2020

10-K filing | 0.1M shares outstanding

110K 0
Weekly Research

Get Weekly Super Stonk Alerts

Never miss a squeeze opportunity. Get our weekly analysis of high short interest stocks, AI-discovered gems, and dilution warnings delivered to your inbox.

No spam Unsubscribe anytime