XORTX Announces Closing of US$1.1 Million Registered Direct Offering
Rhea-AI Summary
XORTX (NASDAQ: XRTX) closed a registered direct offering on Oct 29, 2025 raising gross proceeds of US$1,102,500 by issuing 1,750,000 securities at US$0.63 each (572,470 common shares and 1,117,530 pre-funded warrants).
Each pre-funded warrant is exercisable for one common share at $0.001. The company intends to use net proceeds for working capital and general corporate purposes. D. Boral Capital acted as sole placement agent and will receive 87,500 agent warrants exercisable at US$0.69 beginning 181 days after issuance for 18 months.
Shares/warrants were issued under an effective Form F-3 shelf registration (File No. 333-269429).
Positive
- Gross proceeds of US$1,102,500 raised
- Issuance of 1,117,530 pre-funded warrants preserves immediate cash while allowing later share issuance
- Agent warrants: 87,500 aligns placement agent compensation without immediate cash payment
Negative
- 1,750,000 securities issued creates potential dilution for existing shareholders
- Offering price of US$0.63 per share may reflect downward pressure on market valuation
News Market Reaction
On the day this news was published, XRTX gained 2.88%, reflecting a moderate positive market reaction. Argus tracked a peak move of +2.9% during that session. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $105K to the company's valuation, bringing the market cap to $4M at that time.
Data tracked by StockTitan Argus on the day of publication.
CALGARY, Alberta, Oct. 29, 2025 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the “Company”) (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat gout and progressive kidney disease, announces that it has closed its registered direct offering announced on October 21, 2025, for the purchase and sale of 1,750,000 common shares (the “Common Shares”) (or pre-funded warrants (the “Pre-Funded Warrants”) in lieu thereof) in a registered direct offering (the “Offering”) at a purchase price of US
In connection with the Offering, the Company entered into a definitive securities purchase agreement with an institutional investor pursuant to which the Company has issued 572,470 Common Shares and 1,117,530 Pre-Funded Warrants. Each Pre-funded Warrant will entitle the holder to acquire one common share at an exercise price of
The gross proceeds from the Offering were US
D. Boral Capital LLC acted as sole placement agent for the Offering, and will be issued 87,500 agent warrants. Each agent warrant is exercisable into one Common Share of the Company at an exercise price of US
The Common Shares (and Pre-Funded Warrants in lieu thereof) were issued in a registered direct offering pursuant to an effective shelf registration statement on Form F-3 (File No. 333-269429) previously filed with the U.S. Securities and Exchange Commission (the “SEC”), under the Securities Act of 1933, as amended (the “Securities Act”), and declared effective by the SEC on February 3, 2023. A final prospectus supplement describing the terms of the proposed registered direct offering was filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, or by telephone at +1 (212) 970-5150, or by email at info@dboralcapital.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About XORTX Therapeutics Inc.
XORTX is a pharmaceutical company with three clinically advanced products in development: 1) our lead program XRx-026 program for the treatment of gout; 2) XRx-008 program for ADPKD; and 3) XRx-101 for acute kidney and other acute organ injury associated with respiratory virus infections. In addition, the Company is developing XRx-225, a pre-clinical stage program for Type 2 diabetic nephropathy. XORTX is working to advance products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX, we are dedicated to developing medications that improve the quality of life and health of individuals with gout and other important diseases. Additional information on XORTX is available at www.xortx.com.
| For more information, please contact: | |
| Allen Davidoff, CEO adavidoff@xortx.com or +1 403 455 7727 | Nick Rigopulos, Director of Communications nick@alpineequityadv.com or +1 617 901 0785 |
Neither the TSX Venture Exchange nor Nasdaq has approved or disapproved the contents of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward Looking Statements
This press release contains express or implied forward-looking statements pursuant to applicable securities laws. For example, the Company is using forward-looking statement in this press release when it discusses the intended use of proceeds and closing of the Offering. These forward-looking statements and their implications are based on the current expectations of the management of XORTX only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as otherwise required by applicable law and stock exchange rules, XORTX undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting XORTX is contained under the heading “Risk Factors” in XORTX’s Annual Report on Form 20-F filed with the SEC, which is available on the SEC's website, www.sec.gov (including any documents forming a part thereof or incorporated by reference therein), as well as in our reports, public disclosure documents and other filings with the securities commissions and other regulatory bodies in Canada, which are available on www.sedarplus.ca.
FAQ
How much did XRTX raise in the registered direct offering on Oct 29, 2025?
What securities did XRTX issue in the Oct 29, 2025 offering (ticker XRTX)?
What are the exercise terms of XRTX pre-funded warrants from the Oct 29, 2025 offering?
What agent compensation was paid in the XRTX registered direct offering?
How will XRTX use the net proceeds from the Oct 29, 2025 offering?
Under what registration was XRTX able to complete the Oct 29, 2025 offering?
