XORTX Announces USD $114,500 Private Placement

Core Viewpoint - XORTX Therapeutics Inc. is conducting a non-brokered private placement to raise up to USD $114.5 million through the issuance of common share units at a price of USD $0.73 per unit, aimed at funding its gout and kidney disease treatment programs [1][3]. Group 1: Offering Details - The private placement will consist of up to 156,849 common share units, each unit comprising one common share and one common share purchase warrant [1]. - Each warrant allows the holder to purchase an additional common share at USD $1.20 for 60 months, with an acceleration clause if the share price exceeds USD $2.00 for 10 consecutive trading days [1]. - The closing date for the offering is expected around August 5, 2025, subject to necessary approvals [3]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated to gout programs, general corporate purposes, and working capital [3]. Group 3: Company Overview - XORTX Therapeutics is focused on developing innovative therapies for gout and progressive kidney disease, with three advanced clinical products: XRx-026 for gout, XRx-008 for ADPKD, and XRx-101 for acute kidney injury [4]. - The company is also developing XRx-225, a pre-clinical program for Type 2 diabetic nephropathy, targeting purine metabolism and xanthine oxidase to reduce uric acid production [4].