XORTX Reports Annual & Special Meeting Results
XORTX Therapeutics Inc. (NASDAQ: XRTX) announced the results of its 2021 Annual Meeting of Shareholders, where approximately 38% of shares were voted.
Sentiment and the balance of points
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Rhea-AI Summary
XORTX Therapeutics Inc. (NASDAQ: XRTX) announced the results of its 2021 Annual Meeting of Shareholders, where approximately 38% of shares were voted. All resolutions passed almost unanimously, including the election of six directors and the re-appointment of Smythe LLP as auditors. The company also approved a 10% rolling stock option plan. Following Raymond Pratt's appointment, 30,000 stock options were granted at $2.54 CAD, along with 56,495 options to independent directors. XORTX is developing therapies for progressive kidney diseases, including XRx-008 for ADPKD and XRx-101 for COVID-19-related kidney injury.
Positive
- All resolutions at the Annual Meeting passed with near-unanimous support.
- Six director nominees were successfully elected, enhancing board stability.
- Approval of the 10% rolling stock option plan to attract and retain talent.
- Granting of stock options indicates confidence in future growth.
Negative
- None.
Details
News Market Reaction – XRTX
The recorded move for XRTX in the trading session of this news was +1.02%.
Data tracked by StockTitan Argus. Session date unavailable.
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CALGARY, Alberta, Dec. 21, 2021 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the “Company”) (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a pharmaceutical therapeutics company focused on developing innovative therapies to treat progressive kidney disease, is pleased to announce the results of the Company’s 2021 Annual and Special Meeting of Shareholders held yesterday. A total of 4,990,819 common shares of the Company were voted at the Meeting, representing approximately
In connection with the appointment of Raymond Pratt, the Company has granted in accordance with the Company’s stock option plan 30,000 options to purchase common shares of the Company exercisable at
About XORTX Therapeutics Inc.
XORTX Therapeutics Inc. is a pharmaceutical company with two clinically advanced products in development – XRx-008 for Autosomal Dominant Polycystic Kidney Disease (ADPKD), XRx-101 for acute kidney and other acute organ injury associated with Coronavirus / COVID-19 infection and XRx-225 is a pre-clinical stage program for Type 2 Diabetic Nephropathy (T2DN). XORTX is working to advance its clinical development stage products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX Therapeutics, we are dedicated to developing medications to improve the quality of life and future health of patients. Additional information on XORTX Therapeutics is available at www.xortx.com.
For further information, please contact:
| Allen Davidoff, CEO | Nick Rigopulos, Director of Communications |
| adavidoff@xortx.com or +1 403 455 7727 | nick@alpineequityadv.com or +1 617 901 0785 |
The TSX Venture Exchange and Nasdaq have neither approved nor disapproved the contents of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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