XORTX prices $5 million public offering at $1.88 per share

XORTX Therapeutics Inc. (NASDAQ: XRTX) announced the pricing of a public offering of 2,659,574 common shares or pre-funded warrants at $1.88 per share for gross proceeds of $5 million.

The Calgary-based pharmaceutical company said the offering is expected to close on or about May 15, 2026, subject to customary closing conditions and regulatory approvals, including approval from the TSX Venture Exchange.

The pre-funded warrants carry an exercise price of $0.0001 per share, are immediately exercisable, and will terminate once fully exercised. E.F. Hutton & Co. is serving as the exclusive placement agent for the offering.

The securities are being offered under a registration statement on Form F-1 that was declared effective by the Securities and Exchange Commission on May 13, 2026. XORTX develops therapies for gout and progressive kidney disease.

The company has three clinical-stage programs in development: XRx-026 for gout treatment, XRx-008 for autosomal dominant polycystic kidney disease, and XRx-101 for acute kidney injury associated with respiratory virus infections.

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