Quarterly ResultMay 19, 2026, 06:07 AM
XORTX Q1 Net Loss $(0.81)M; EPS $(0.58); Cash $0.25M
AI Summary
XORTX Therapeutics Inc. reported a net loss of $(808,472) for the first quarter ended March 31, 2026, an increase from the $(698,673) net loss in the same period last year. The company's cash balance significantly decreased to $250,275, down from $864,514 at the end of 2025. The financial statements include a 'going concern' warning, indicating material uncertainty about the company's ability to continue operations without additional funding.
Key Highlights
- Net loss for Q1 2026 was $(808,472), compared to $(698,673) in Q1 2025.
- Basic and diluted loss per common share was $(0.58) in Q1 2026, an improvement from $(0.93) in Q1 2025.
- Cash balance decreased to $250,275 as of March 31, 2026, from $864,514 at December 31, 2025.
- Total assets declined to $2,144,791 at March 31, 2026, from $2,683,530 at December 31, 2025.
- Total liabilities increased to $860,988 at March 31, 2026, from $599,071 at December 31, 2025.
- Research and development expenses significantly decreased to $33,113 in Q1 2026 from $276,309 in Q1 2025.
- Professional fees increased to $312,379 in Q1 2026 from $81,834 in Q1 2025.
Price Impact
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