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XORTX Therapeutics Inc. (NASDAQ: XRTX) is a bio-pharmaceutical company dedicated to developing and commercializing innovative therapies aimed at treating progressive kidney diseases worldwide. Headquartered in Calgary, Canada, XORTX focuses on addressing serious health conditions related to aberrant purine and uric acid metabolism, including diabetic nephropathy, polycystic kidney disease (PKD), and complications arising from diabetes and cardiovascular diseases.
The company has two lead programs targeting progressive kidney disease due to diabetes and PKD. Additionally, XORTX is actively involved in the development of uric acid-lowering agents to treat conditions like hypertension, insulin resistance, metabolic syndrome, and diabetes. Their pipeline includes xanthine oxidase inhibitors that show potential in managing diabetic nephropathy.
One of XORTX's strategic milestones is its alliance with Teijin Pharma Limited for the development of TMX-049, a promising xanthine oxidoreductase inhibitor. Another significant partnership is with the Icahn School of Medicine, focusing on studying acute kidney injury and hyperuricemia in patients hospitalized with COVID-19.
XORTX Therapeutics Inc. is at the clinical-stage of biotechnology, aiming to identify, develop, and potentially commercialize therapies that can slow or reverse the progression of chronic kidney diseases. Their focus includes addressing the immediate needs of individuals facing acute kidney injury (AKI) due to respiratory virus infections and exploring other opportunities where their intellectual property can mitigate various health issues.
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.
XORTX Therapeutics announced the filing of a provisional patent related to polycystic kidney disease (PKD), focusing on a new mechanism of injury tied to aberrant purine metabolism. This patent covers methods for diagnosing and treating PKD by addressing xanthine oxidase expression and uric acid levels. CEO Dr. Allen Davidoff highlighted the importance of these findings, which aim to expand the company's patent portfolio and enhance product development opportunities. The lead program, XRx-008, targets progressing kidney disease due to autosomal dominant PKD.
XORTX Therapeutics has announced the publication of a peer-reviewed study in the American Journal of Nephrology regarding hyperuricemia's implications in COVID-19 patients. The study, conducted with the Icahn School of Medicine, involved 834 hospitalized patients, revealing that 60% experienced acute kidney injury (AKI) and 31.7% died. Elevated serum uric acid was identified as a significant risk factor for AKI and mortality. XORTX's CEO emphasized the need for uric acid measurement in COVID-19 patients and the potential for uric acid-lowering treatments to improve outcomes.
XORTX Therapeutics Inc. (NASDAQ: XRTX) announced that A.G.P./Alliance Global Partners has initiated research coverage on the company. This marks a significant milestone for XORTX, which is developing innovative therapies for progressive kidney disease, including XRx-008 for Autosomal Dominant Polycystic Kidney Disease and XRx-101 for COVID-19. The coverage report by James Molloy, a senior biotechnology analyst, emphasizes XORTX’s commitment to addressing critical health concerns. It can be accessed online or via direct contact with A.G.P.
XORTX Therapeutics has appointed Altasciences as the contract research organization for its planned bridging pharmacokinetic study, XRX-OXY-101, aimed at advancing therapies for autosomal dominant polycystic kidney disease (ADPKD) and acute kidney injury related to Coronavirus infections. This study will assess the bioavailability of oxypurinol following promising results in animal models. CEO Dr. Allen Davidoff emphasized that this marks the beginning of multiple clinical trials designed to enhance treatments for kidney diseases.
XORTX Therapeutics Inc. (TSXV: XRTX | NASDAQ: XRTX) has announced its annual and special meeting of shareholders scheduled for December 20, 2021. Shareholders will vote on key matters, including the election of directors and re-appointment of auditors. The company will feature a new board member, Dr. Raymond Pratt, who brings extensive experience in nephrology and drug development. Due to COVID-19 restrictions, the meeting will be held via conference call, and shareholders are encouraged to vote by proxy. XORTX is advancing therapies for kidney diseases and COVID-19.
Argus Research has begun coverage on XORTX Therapeutics (Nasdaq: XRTX), focused on innovative therapies for progressive kidney diseases. XORTX aims to advance its two leading candidates into Phase 3 trials in 2022, with a significant financing round completed in October 2021, raising approximately $13.5 million. The company anticipates additional funding from warrant exercises and has a fair value estimate of $13 per share, substantially higher than the current trading price of around $3. With a potent pipeline targeting conditions like autosomal-dominant polycystic kidney disease, XORTX shows strong market potential.
XORTX Therapeutics Inc. has completed a public offering, issuing an additional 355,000 common shares at US$4.129 each, raising approximately US$1.47 million. This follows the earlier announcement of total gross proceeds of about US$13.47 million from 3,261,000 shares and 3,341,900 warrants sold. Dr. Allen Davidoff, CEO, noted this investment reflects strong investor interest amid the company's NASDAQ uplisting. The offering is registered with the SEC, and further details can be accessed via the SEC’s website.
XORTX Therapeutics Inc. (TSXV: XRTX | NASDAQ: XRTX), a pharmaceutical company focused on kidney disease therapies, announced the de-listing of its common shares from the Canadian Securities Exchange (CSE) effective today. Trading will resume on the TSX Venture Exchange (TSXV) tomorrow without any need for shareholders to exchange share certificates. The company is advancing two clinical products: XRx-008 for Autosomal Dominant Polycystic Kidney Disease and XRx-101 for acute kidney injury related to COVID-19. The CUSIP will remain unchanged for the common shares.
XORTX Therapeutics Inc. (CSE: XRX | NASDAQ: XRTX) announced the final approval for its common shares to be listed on the TSX Venture Exchange (TSXV), effective November 4, 2021. This move aims to enhance the Company's visibility and attract domestic and institutional investors, according to President and CEO Dr. Allen Davidoff. In conjunction with this, XORTX will voluntarily delist from the Canadian Securities Exchange. Shareholders do not need to take any action regarding share certificates as there will be no changes to the trading symbol or CUSIP.
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