XORTX Announces Closing of US$1.1 Million Registered Direct Offering

Core Viewpoint - XORTX Therapeutics Inc. has successfully closed a registered direct offering, raising gross proceeds of US$1,102,500 for the sale of 1,750,000 common shares at a price of US$0.63 per share, which will be used for working capital and general corporate purposes [1][3]. Group 1: Offering Details - The offering included 572,470 common shares and 1,117,530 pre-funded warrants, with each warrant allowing the holder to acquire one common share at an exercise price of $0.001 [2]. - D. Boral Capital LLC acted as the sole placement agent for the offering and will receive 87,500 agent warrants, each exercisable into one common share at an exercise price of US$0.69 [4]. Group 2: Company Overview - XORTX is focused on developing innovative therapies for gout and progressive kidney disease, with three clinically advanced products: XRx-026 for gout, XRx-008 for ADPKD, and XRx-101 for acute kidney injury associated with respiratory virus infections [7]. - 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 [7].