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XORTX Therapeutics Inc. develops therapies for gout and progressive kidney disease, with programs that include XRx-026 for gout, XRx-008 for autosomal dominant polycystic kidney disease, XRx-101 for acute kidney and other acute organ injury associated with respiratory virus infections, and XRx-225 for Type 2 diabetic nephropathy. The company also holds the VB4-P5 kidney anti-fibrotic program, a pre-IND asset targeting rare and prevalent forms of kidney disease.
Company announcements cover clinical and preclinical pipeline development, acquired kidney-disease assets, share consolidations, Nasdaq and TSX Venture Exchange listing matters, annual meeting results, board elections, auditor appointments, stock option plan approvals, and other governance actions tied to its public-company status.
Argus Research has begun coverage on XORTX Therapeutics (Nasdaq: XRTX), focused on innovative therapies for progressive kidney diseases. XORTX aims to advance its two leading candidates into Phase 3 trials in 2022, with a significant financing round completed in October 2021, raising approximately $13.5 million. The company anticipates additional funding from warrant exercises and has a fair value estimate of $13 per share, substantially higher than the current trading price of around $3. With a potent pipeline targeting conditions like autosomal-dominant polycystic kidney disease, XORTX shows strong market potential.
XORTX Therapeutics Inc. has completed a public offering, issuing an additional 355,000 common shares at US$4.129 each, raising approximately US$1.47 million. This follows the earlier announcement of total gross proceeds of about US$13.47 million from 3,261,000 shares and 3,341,900 warrants sold. Dr. Allen Davidoff, CEO, noted this investment reflects strong investor interest amid the company's NASDAQ uplisting. The offering is registered with the SEC, and further details can be accessed via the SEC’s website.
XORTX Therapeutics Inc. (TSXV: XRTX | NASDAQ: XRTX), a pharmaceutical company focused on kidney disease therapies, announced the de-listing of its common shares from the Canadian Securities Exchange (CSE) effective today. Trading will resume on the TSX Venture Exchange (TSXV) tomorrow without any need for shareholders to exchange share certificates. The company is advancing two clinical products: XRx-008 for Autosomal Dominant Polycystic Kidney Disease and XRx-101 for acute kidney injury related to COVID-19. The CUSIP will remain unchanged for the common shares.
XORTX Therapeutics Inc. (CSE: XRX | NASDAQ: XRTX) announced the final approval for its common shares to be listed on the TSX Venture Exchange (TSXV), effective November 4, 2021. This move aims to enhance the Company's visibility and attract domestic and institutional investors, according to President and CEO Dr. Allen Davidoff. In conjunction with this, XORTX will voluntarily delist from the Canadian Securities Exchange. Shareholders do not need to take any action regarding share certificates as there will be no changes to the trading symbol or CUSIP.
XORTX Therapeutics announced the successful closing of a public offering on October 15, 2021, raising approximately US$12 million through the sale of 2,906,000 units, each consisting of one common share and one warrant with an exercise price of US$4.77. The offering has positioned the company for strategic advancement in its clinical programs, particularly for products targeting progressive kidney disease. The company also granted underwriters a 45-day option for additional shares, enhancing liquidity.
XORTX Therapeutics Inc. will participate in the LD Micro Main Event from October 12-14, 2021. The company, focused on innovative therapies for progressive kidney disease, emphasizes the importance of this conference for connecting with investors and analysts. CEO Allen Davidoff mentioned the significance of investor presentations, while LD Micro founder Chris Lahiji expressed excitement about returning to in-person events. The company's products target conditions like Autosomal Dominant Polycystic Kidney Disease and COVID-19. A replay will be available on their website.
XORTX Therapeutics Inc. has announced a public offering of 2,906,000 units at a price of US$4.13 each, aimed at raising approximately US$12 million in gross proceeds. Each unit comprises one common share and one warrant with an exercise price of US$4.77. The offering has received conditional approval to list on the Nasdaq under the symbol 'XRTX.' The offering is expected to close around October 15, 2021. Additionally, the company has granted underwriters a 45-day option to purchase additional shares. XORTX focuses on developing therapies for progressive kidney disease.