XORTX Therapeutics has successfully closed its previously announced registered direct offering and concurrent private placement, raising gross proceeds of approximately US$1.5 million. The offering included 810,810 common shares (or pre-funded warrants) at US$1.85 per share, along with common warrants to purchase up to 810,810 shares in a private placement.The common warrants were issued with an exercise price of US$2.18, featuring immediate exercisability and a five-year expiration term. A.G.P./Alliance Global Partners served as the sole placement agent for the transaction. The company plans to utilize 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 conducted under Section 4(a)(2) of the Securities Act and Regulation D. The company, focused on developing therapies for progressive kidney disease, maintains two clinically advanced products in development: XRx-008 for ADPKD and XRx-101 for acute kidney injury associated with COVID-19.

XORTX Therapeutics has successfully closed its previously announced registered direct offering and concurrent private placement, raising gross proceeds of approximately US$1.5 million. The offering included 810,810 common shares (or pre-funded warrants) at US$1.85 per share, along with common warrants to purchase up to 810,810 shares in a private placement.The common warrants were issued with an exercise price of US$2.18, featuring immediate exercisability and a five-year expiration term. A.G.P./Alliance Global Partners served as the sole placement agent for the transaction. The company plans to utilize 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 conducted under Section 4(a)(2) of the Securities Act and Regulation D. The company, focused on developing therapies for progressive kidney disease, maintains two clinically advanced products in development: XRx-008 for ADPKD and XRx-101 for acute kidney injury associated with COVID-19.