XORTX Therapeutics Inc. - XRTX STOCK NEWS

XORTX Therapeutics Inc. (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU) has closed its previously announced US$1.5 million registered direct offering and concurrent private placement. The offering included the sale of 810,810 common shares (or pre-funded warrants) at US$1.85 per share and common warrants to purchase up to 810,810 common shares. The warrants have an exercise price of US$2.18, are immediately exercisable, and expire in five years.

A.G.P./Alliance Global Partners acted as the sole placement agent. The company plans to use the net proceeds for working capital and general corporate purposes. The common shares were offered through an effective shelf registration statement, while the private placement of warrants was made under exemptions from registration requirements.

XORTX Therapeutics Inc. (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU) has announced a US$1.5 million registered direct offering and concurrent private placement. The company will sell 810,810 common shares (or equivalents) at US$1.85 per share and issue warrants to purchase up to 810,810 common shares at US$2.18 per share. The warrants will be immediately exercisable and expire in five years. The offering is expected to close around October 18, 2024, subject to conditions. A.G.P./Alliance Global Partners is acting as the sole placement agent. XORTX intends to use the net proceeds for working capital and general corporate purposes. The offering includes a registered direct offering under an effective shelf registration and a private placement of warrants.

XORTX Therapeutics Inc. (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU) has initiated a precision medicine program following recent research linking genetic factors to xanthine oxidase (XO) over-expression in various diseases, including kidney disease. This initiative aims to combine genetic diagnostics with XO inhibition to target individuals most in need.

The company plans to develop diagnostic tools to identify specific genetic factors, which, combined with XORTX's expertise in developing unique formulations of uric acid lowering agents and XO inhibitors, will allow for tailored treatments for subpopulations with common susceptibilities or similar drug responses.

XORTX will begin evaluating individuals in their planned registration clinical trial for autosomal dominant polycystic kidney disease (ADPKD) patients, providing an opportunity to better understand the role of genetic factors in progressive kidney disease.

XORTX Therapeutics Inc. (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU) held its annual and special meeting of shareholders on September 12, 2024. Key outcomes include:

1. Election of all seven management nominees to the board of directors
2. Appointment of Smythe LLP as auditors
3. Re-approval of the stock option plan

The meeting saw a 31% shareholder representation. Chairman Anthony Giovinazzo highlighted recent board additions and advancements in the company's intellectual property portfolio and research studies in autosomal dominant polycystic kidney disease (ADPKD). He emphasized the board's expertise in clinical trials, regulatory approvals, commercialization, and public company governance.

XORTX Therapeutics Inc. (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a late-stage clinical pharmaceutical company focusing on progressive kidney disease treatments, has refiled its management's discussion and analysis (MD&A) for the financial year ended December 31, 2023 and the interim period ended June 30, 2024. This action follows a continuous disclosure review by the Alberta Securities Commission.

The refiling addresses the following changes:

• Inclusion of the full definition of Disclosure Controls and Procedures as per NI 52-109
• Breakdown of use of funds for the Company's product candidates
• Estimated costs in the Outlook section

The amended MD&A documents are restated as of September 12, 2024, and should be read alongside the corresponding financial statements. They have been reviewed by the Company's Audit Committee and approved by the Board of Directors.

XORTX Therapeutics (NASDAQ: XRTX) reminds shareholders to vote for the upcoming Annual and Special Meeting on September 12, 2024. The Board recommends voting FOR ALL proposed items, including:

• Fixing the number of directors at seven
• Electing the board of directors
• Appointing the auditor
• Approving the amended Stock Option Plan

The proxy voting deadline is 10:00 am (Calgary time) on September 10, 2024. Independent proxy advisory firm ISS recommends voting 'FOR' all proposed resolutions. The meeting will be held at XORTX's offices in Calgary. Shareholders can contact Laurel Hill Advisory Group for voting assistance.

XORTX Therapeutics Inc. (NASDAQ: XRTX) highlights recent research indicating genetic factors are linked to over-expression of xanthine oxidase (XO), supporting the company's approach to treating kidney diseases. The research suggests XO modulates progression of chronic kidney disease, diabetic kidney disease, and polycystic kidney disease. CEO Allen Davidoff emphasized the potential of pharmacologic targeting of XO, especially where increased XO activity is associated with kidney diseases.

The company's proprietary formulation, XORLO™, will be tested in a planned clinical trial for patients with autosomal dominant polycystic kidney disease (ADPKD). This trial aims to further understand the role of newly identified genetic factors in individuals with PKD. XORTX believes its expertise in developing XO inhibitors, protected by patents, positions the company to deliver targeted therapeutics to at-risk individuals.

XORTX Therapeutics Inc. (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU) has announced the filing and mailing of meeting documents for its upcoming Annual and Special Meeting of Shareholders. The management information circular is now available on the company's website, SEDAR+, and the SEC's website. The meeting is scheduled for September 12, 2024, at 10:00 am (Calgary Time) at the company's offices.

Shareholders are encouraged to review the circular and vote their shares by September 10, 2024. The Board of Directors recommends voting FOR ALL proposed items. For assistance with voting, shareholders can contact Laurel Hill Advisory Group. The company also clarified a misreported statement regarding Patrick Treanor's board attendance in 2023.

XORTX Therapeutics Inc. (NASDAQ: XRTX) announced the acceptance of an abstract for presentation at the American Society of Nephrology's Kidney Week 2024. The abstract, titled 'Xanthine oxidase in rats, mice and humans with polycystic kidney disease', focuses on the role of xanthine oxidase (XO) in polycystic kidney disease (PKD). The study, conducted at the University of Colorado and sponsored by XORTX, aimed to understand serum xanthine oxidase activity (XOa) in PKD and its relation to total kidney volume and glomerular filtration rate (GFR) decline.

The research investigated XO activity in PCK1 rats, PKD1RC/RC mice, and 34 patients from the HALT-PKD Clinical study. Results provide insights into how aberrant purine metabolism in PKD tissue may contribute to circulating uric acid levels, kidney expansion rate, and GFR decline. This study builds on previous findings suggesting XO overexpression in PKD kidney tissue. XORTX plans to provide a detailed update on the study results in early November.