Latest news with #XORTX
Yahoo
3 days ago
- Business
- Yahoo
XORTX Completes USD $114,500 Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICESOR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, Aug. 08, 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 the closing of its previously announced non-brokered private placement of units ('Units'), whereby it issued 156,849 Units at a price of US$0.73 per Unit for aggregate gross proceeds of US$114,500 (the 'Offering'). Under the Offering, each Unit consisted of one common share in the capital of the Company ('Common Share') and one common share purchase warrant ('Warrant'). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of US$1.20 for a period of sixty (60) months following the date of issuance provided, however, that if the closing price of the Common Shares on the Nasdaq is greater than US$2.00 for ten (10) or more consecutive trading days, the Warrants will be accelerated and will expire on the 30th business day following the date of such notice. Closing of the Offering was conditionally approved by the TSX Venture Exchange ('TSXV'), and the securities issued under the Offering are subject to a four-month and one-day statutory hold period. The Company intends to use the proceeds of the Offering for gout programs, general corporate and working capital purposes. No finder's fees were paid in connection with the Offering. The securities have not and will not be registered under the U.S. Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any applicable state securities laws and may not be offered or sold to, or for the account or benefit of, persons in the United States or 'U.S. persons,' as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. 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 For more information, please contact: Allen Davidoff, CEO Nick Rigopulos, Director of Communications adavidoff@ nick@ +1 403 455 7727 +1 617 901 0785 Forward Looking Statements Statements contained in this news release that are not historical facts are 'forward-looking information' or 'forward-looking statements' within the meaning of applicable Canadian securities laws. Such forward-looking statements or information are provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as 'anticipate', 'proposed', 'estimates', 'would', 'expects', 'intends', 'plans', 'may', 'will', and similar expressions, although not all forward-looking information contains these identifying words. More particularly and without limitation, the forward-looking information in this news release includes (i) expectations regarding the Company's current and future financing plans; (ii) expectations concerning the Company's plans and objectives in respect of the Offering's gross proceeds; and (iii) expectations regarding the Company's business plans and operations. Forward-looking information is based on a number of factors and assumptions that have been used to develop such information, but which may prove to be incorrect and are inherently subject to significant business, economic and competitive uncertainties, and contingencies. The material factors and assumptions used in preparing the forward-looking information contained herein include, among others, our ability to obtain additional financing; the accuracy of our estimates regarding expenses, future revenues and capital requirements; the success and timing of our preclinical studies and clinical trials; the performance of third-party manufacturers and contract research organizations; our plans to develop and commercialize our product candidates; our plans to advance research in other kidney disease applications; and our ability to obtain and maintain intellectual property protection for our product candidates. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. The forward-looking information in this news release reflects the Company's current expectations, assumptions and/or beliefs based on information currently available to the Company. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement. 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, (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 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Toronto Star
3 days ago
- Business
- Toronto Star
XORTX Completes USD $114,500 Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, Aug. 08, 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 the closing of its previously announced non-brokered private placement of units ('Units'), whereby it issued 156,849 Units at a price of US$0.73 per Unit for aggregate gross proceeds of US$114,500 (the 'Offering'). Under the Offering, each Unit consisted of one common share in the capital of the Company ('Common Share') and one common share purchase warrant ('Warrant'). Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of US$1.20 for a period of sixty (60) months following the date of issuance provided, however, that if the closing price of the Common Shares on the Nasdaq is greater than US$2.00 for ten (10) or more consecutive trading days, the Warrants will be accelerated and will expire on the 30th business day following the date of such notice. Closing of the Offering was conditionally approved by the TSX Venture Exchange ('TSXV'), and the securities issued under the Offering are subject to a four-month and one-day statutory hold period. The Company intends to use the proceeds of the Offering for gout programs, general corporate and working capital purposes. No finder's fees were paid in connection with the Offering. ARTICLE CONTINUES BELOW The securities have not and will not be registered under the U.S. Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any applicable state securities laws and may not be offered or sold to, or for the account or benefit of, persons in the United States or 'U.S. persons,' as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. 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 For more information, please contact: Forward Looking Statements Statements contained in this news release that are not historical facts are 'forward-looking information' or 'forward-looking statements' within the meaning of applicable Canadian securities laws. Such forward-looking statements or information are provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as 'anticipate', 'proposed', 'estimates', 'would', 'expects', 'intends', 'plans', 'may', 'will', and similar expressions, although not all forward-looking information contains these identifying words. More particularly and without limitation, the forward-looking information in this news release includes (i) expectations regarding the Company's current and future financing plans; (ii) expectations concerning the Company's plans and objectives in respect of the Offering's gross proceeds; and (iii) expectations regarding the Company's business plans and operations. Forward-looking information is based on a number of factors and assumptions that have been used to develop such information, but which may prove to be incorrect and are inherently subject to significant business, economic and competitive uncertainties, and contingencies. The material factors and assumptions used in preparing the forward-looking information contained herein include, among others, our ability to obtain additional financing; the accuracy of our estimates regarding expenses, future revenues and capital requirements; the success and timing of our preclinical studies and clinical trials; the performance of third-party manufacturers and contract research organizations; our plans to develop and commercialize our product candidates; our plans to advance research in other kidney disease applications; and our ability to obtain and maintain intellectual property protection for our product candidates. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. The forward-looking information in this news release reflects the Company's current expectations, assumptions and/or beliefs based on information currently available to the Company. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement. 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, (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 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Toronto Star
4 days ago
- Business
- Toronto Star
XORTX Provides Corporate Update and Planned Activities for 2025 / 2026
CALGARY, Alberta, Aug. 07, 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, is pleased to provide a comprehensive update on its 2025 progress and strategic goals for 2026. The first half of 2025 has been marked by intense focus and significant advancement, solidifying a robust plan to accelerate the lead gout program towards a NDA filing, aiming to propel technology toward revenue generation and foster substantial shareholder value.
Toronto Star
31-07-2025
- Business
- Toronto Star
XORTX Announces USD $114,500 Private Placement
CALGARY, Alberta, July 31, 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 a non-brokered private placement to raise up to USD $114,500 through the issuance of up to 156,849 common share units ('Units') of the Company at a price of USD $0.73 per unit (the 'Offering'). Each Unit will be comprised of one common share and one common share purchase warrant (a 'Warrant'). Each Warrant will entitle the holder, on exercise, to purchase one additional common share in the capital of the Company, at a price of USD $1.20 per Warrant until the close of business on the day which is 60 months from the date of issuance of the Units, provided, however, that if the closing price of the common shares on the Nasdaq is greater than USD $2.00 for 10 or more consecutive trading days, the Warrants will be accelerated and the Warrants will expire on the 30th business day following the date of such notice. Allen Davidoff, CEO of XORTX stated, 'With additional interest in the LIFE offering (see news release of June 26 and July 22, 2025) from non-Canadian investors, XORTX has undertaken this small private placement to accommodate these subscribers.'
Hamilton Spectator
31-07-2025
- Business
- Hamilton Spectator
XORTX Announces USD $114,500 Private Placement
CALGARY, Alberta, July 31, 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 a non-brokered private placement to raise up to USD $114,500 through the issuance of up to 156,849 common share units ('Units') of the Company at a price of USD $0.73 per unit (the 'Offering'). Each Unit will be comprised of one common share and one common share purchase warrant (a 'Warrant'). Each Warrant will entitle the holder, on exercise, to purchase one additional common share in the capital of the Company, at a price of USD $1.20 per Warrant until the close of business on the day which is 60 months from the date of issuance of the Units, provided, however, that if the closing price of the common shares on the Nasdaq is greater than USD $2.00 for 10 or more consecutive trading days, the Warrants will be accelerated and the Warrants will expire on the 30th business day following the date of such notice. Allen Davidoff, CEO of XORTX stated, 'With additional interest in the LIFE offering (see news release of June 26 and July 22, 2025) from non-Canadian investors, XORTX has undertaken this small private placement to accommodate these subscribers.' This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act') or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. The closing date of the Offering is expected to occur on or about August 5, 2025, or such later date or dates as the Company may determine, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including approval from the TSX Venture Exchange. The Company intends to use the proceeds of the Offering for gout programs, general corporate and working capital purposes. All securities issued under the Offering will be subject to a four month and one day 'hold period' under applicable Canadian securities legislation. 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 . For more information, please contact: 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. These forward-looking statements include, but are not limited to, the Company's beliefs, plans, goals, objectives, expectations, assumptions, estimates, intentions, future performance, other statements that are not historical facts and statements identified by words such as 'expects', 'anticipates', 'intends', 'plans', 'believes', 'seeks', 'estimates' or words of similar meaning. 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. Such risks, uncertainties, and other factors include, but are not limited to, the use of the net proceeds of the Offering; the terms of the Offering; the timing and completion of the Offering; and the receipt of regulatory, stock exchange and other required approvals in connection with the Offering, our ability to obtain additional financing; the accuracy of our estimates regarding expenses, future revenues and capital requirements; the success and timing of our preclinical studies and clinical trials; the performance of third-party manufacturers and contract research organizations; our plans to develop and commercialize our product candidates; our plans to advance research in other kidney disease applications; and, our ability to obtain and maintain intellectual property protection for our product candidates. 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, (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 .
