X4 Pharmaceuticals Inc Q2 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Kristen Kluska - Cantor Fitzgerald & Co. - Analyst : Congratulations on reaching 10 years. It's a great milestone and how better to celebrate with the drug approval this year. So first, I wanted to ask how you believe physicians are going to measure success differently in a commercial setting versus the clinic for XOLREMDI. Will it be primarily on patient anecdotes, reports around infections or anything else to consider?

Question: Kristen Kluska - Cantor Fitzgerald & Co. - Analyst : And can you give us a sense of how partnership discussions ex US are going at this stage? And just curious, your press release noted some ways you're looking to maximize the value of mavorixafor beyond WHIM syndrome and CN. So curious in these conversations, this has come up with potential partners about ways that they can also potentially utilize this drug in other indications as well. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2024 / 12:30PM, XFOR.OQ - Q2 2024 X4 Pharmaceuticals Inc Earnings Call

Question: Ed Tenthoff - Piper Sandler & Co. - Analyst : Yes, it's exciting to see some revenues at a company that a lot of work has gone to get that first couple of hundred thousand dollars, and I know it will grow from here. My question had to do with sort of characterizing the patients that are on drug. Can you give us a sense for how many patients are on drug? And anything about sort of the backlog? And if you're not able to give us direct patient numbers, maybe tell us sort of a little bit about the journey of patients that you're seeing as you sort of get them into commercial use of XOLREMDI.

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC. - Analyst : Congratulations on the 10 years and also the launch. In terms of -- I know it's early stages of the launch. But when you go and attend these conferences, such as the Immunodeficiency Conference, how are -- what is it that you're hearing from physicians and patients at this point in terms of getting ready to take -- to adopt the drug. And also have you learned anything else that needs to be looked at in terms of improving -- I'm not saying improving, getting adoption to a better level from the get-go?

Question: Swayampakula Ramakanth - H.C. Wainwright & Co., LLC. - Analyst : Well said. And then for the SCN indication, so between now and if there is an interim analysis for the 4WARD study, is there any other data that will be presented so that we can understand how this program is moving forward?

Question: Leah Cann - Brookline Capital Markets LLC - Analyst : I have a financial question. So Adam, could you help us with the number of fully diluted shares at the end of the quarter, including the prefunded warrants?

Question: Stephen Willey - Stifel, Nicolaus & Company, Inc. - Analyst : Could you maybe just talk a little bit about -- and again, I understand that it's early, but the kinetics of the reimbursement process? I know the paperwork that is required sometimes for these higher-priced rare disease drugs can be a somewhat lengthy process. And just curious if you have an early read just based on the limited experience thus far as to what that process might look like from just a timing perspective.

Question: Stephen Willey - Stifel, Nicolaus & Company, Inc. - Analyst : Okay. That's helpful. And maybe a guidance question, not one related to actual sales. But just curious how you're thinking about communicating enrollment progress in the Phase 3 4WARD trial going forward? Should we expect updates in conjunction with certain milestones, say, at like 50%? Or is this just going to be kind of a moving target and we'll hear about it when we hear about it? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 08, 2024 / 12:30PM, XFOR.OQ - Q2 2024 X4 Pharmaceuticals Inc Earnings Call

Question: Stephen Willey - Stifel, Nicolaus & Company, Inc. - Analyst : Okay. And then maybe just another financial question for Adam. SG&A just looks to be down about 25% sequentially, which I guess I wouldn't have been anticipated in the context of undertaking a launch. So can you just remind us if there's anything either unique to the 1 quarter number or this quarter number that impacts that SG&A line item?

Question: Stephen Willey - Stifel, Nicolaus & Company, Inc. - Analyst : Congrats on the progress.

Question: David Bautz - Zacks Investment Research, Inc. - Analyst : Question on the mechanism of how prescriptions are filled. Are they filled on a monthly basis? Is it multiple monthly? And then if you could talk a little bit about how revenue is recognized in relation to when those prescriptions are filled?