XORTX prices $1.1 million registered direct offering at $0.63 per share

XORTX Therapeutics Inc. (NASDAQ: XRTX) announced it has entered into a securities purchase agreement with an institutional investor for a registered direct offering of 1,746,631 common shares at $0.63 per share.

The pharmaceutical company expects to receive gross proceeds of $1.1 million from the offering, before deducting placement agent fees and other expenses. The closing is expected to occur on or about October 22, 2025, subject to customary closing conditions and approval from the TSX Venture Exchange.

XORTX stated it intends to use the net proceeds for working capital and general corporate purposes. D. Boral Capital LLC is serving as the sole placement agent for the offering.

The shares will be issued under an effective shelf registration statement on Form F-3 previously filed with the U.S. Securities and Exchange Commission and declared effective on February 3, 2023.

XORTX is a Calgary-based clinical pharmaceutical company developing therapies for gout and progressive kidney disease. The company has three clinical programs in development: XRx-026 for gout treatment, XRx-008 for ADPKD, and XRx-101 for acute kidney injury associated with respiratory virus infections. The company is also developing XRx-225, a pre-clinical program for Type 2 diabetic nephropathy.

The company's products target aberrant purine metabolism and xanthine oxidase to decrease uric acid production.

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