v3.25.2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Total revenue	$ 1,973	$ 563	$ 30,780	$ 563
Costs and operating expenses:
Cost of revenue	326	268	5,042	268
Research and development	18,352	20,914	36,865	40,768
Selling, general and administrative	9,527	13,278	24,548	30,713
Gain on sale of non-financial asset (Note 17)	0	(105,000)	0	(105,000)
Total operating expense (income)	28,205	(70,540)	66,455	(33,251)
Loss from operations	(26,232)	71,103	(35,675)	33,814
Other income (expense), net:
Interest income	665	1,565	1,690	2,631
Interest expense	(2,232)	(2,176)	(4,433)	(4,050)
Change in fair value of warrant liability	2,642	20,215	13,472	6,460
Other (expense) income, net	(547)	144	(442)	249
Total other income, net	528	19,748	10,287	5,290
(Loss) income before provision for income taxes	(25,704)	90,851	(25,388)	39,104
Provision for income taxes	37	18	71	37
Net (loss) income	$ (25,741)	$ 90,833	$ (25,459)	$ 39,067
Net loss per share attributable to common stockholders—basic	$ (3.47)	$ 13.59	$ (3.59)	$ 5.85
Weighted average shares of common stock outstanding—basic	7,412,990	6,681,349	7,095,846	6,673,868
Net loss per share attributable to common stockholders—diluted	$ (3.47)	$ 13.57	$ (3.59)	$ 5.85
Weighted average shares of common stock outstanding—diluted	7,412,990	6,693,376	7,095,846	6,681,862
Supplemental Income Statement Elements [Abstract]
Change in net unrealized gains on marketable debt securities	$ (10)	$ (6)	$ (16)	$ (42)
Comprehensive (loss) income	(25,751)	90,827	(25,475)	39,025
License and other revenue
Total revenue	$ 229	$ 0	28,094	0
Product revenue, net
Total revenue			$ 2,686	$ 563

The aggregate cost of goods produced and sold and services rendered during the reporting period.

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X4 Pharmaceuticals, Inc 10-Q