XORTX Therapeutics reported financial results for Q3 2024, ending September 30. The company's cash position stood at $2.3M, down from $3.4M at 2023 year-end. Net loss for the quarter was $587,011, an improvement from $1.3M in Q3 2023. R&D expenses decreased significantly to $34,741 from $569,713 YoY.In February and March 2024, XORTX raised $2M through a private placement of 899,717 units at CAD $3 per unit. Each unit included one common share and one warrant exercisable at CAD $4.50 for two years. The company also extended its office lease to May 2025.Post quarter-end, on October 18, XORTX closed a $1.5M registered direct offering and concurrent private placement, issuing units consisting of common shares or pre-funded warrants, plus warrants exercisable at $2.18 for five years. Proceeds will be used for working capital and general corporate purposes as the company advances its kidney disease therapies.

XORTX Therapeutics reported financial results for Q3 2024, ending September 30. The company's cash position stood at $2.3M, down from $3.4M at 2023 year-end. Net loss for the quarter was $587,011, an improvement from $1.3M in Q3 2023. R&D expenses decreased significantly to $34,741 from $569,713 YoY.In February and March 2024, XORTX raised $2M through a private placement of 899,717 units at CAD $3 per unit. Each unit included one common share and one warrant exercisable at CAD $4.50 for two years. The company also extended its office lease to May 2025.Post quarter-end, on October 18, XORTX closed a $1.5M registered direct offering and concurrent private placement, issuing units consisting of common shares or pre-funded warrants, plus warrants exercisable at $2.18 for five years. Proceeds will be used for working capital and general corporate purposes as the company advances its kidney disease therapies.