XORTX Therapeutics Inc.

XORTX Therapeutics provided a corporate update, focusing on restructuring, re-initiating drug development, and preparing regulatory filings for its lead gout program, XRx-026. The company clarified with the FDA the remaining steps for a New Drug Application (NDA) via the 505(b)(2) pathway and is developing an Investigational New Drug (IND) application. XRx-026 targets a US $700 million per year market for allopurinol-intolerant gout patients. Additionally, Mika Grasso was appointed as co-CEO for finance and public markets, enhancing the c-suite effectiveness.

XORTX Therapeutics Inc. announced the appointment of Mika Grasso as Co-CEO, focusing on finance and public markets, as part of a corporate restructuring. The company is prioritizing its lead gout program (XRx-026) and its progressive kidney disease program (XRx-008). XORTX is preparing for an NDA submission for XRx-026 following FDA feedback and aims for marketing approval within 18 months.

XORTX Therapeutics Inc. announced its decision to voluntarily delist its common shares from the TSX Venture Exchange (TSXV). This strategic move aims to eliminate duplicative exchange fees, reduce legal and accounting expenses, optimize financing, and minimize regulatory complexity, allowing greater management focus on its XRx-026 program for gout. Shareholders will maintain full trading access on Nasdaq, and no action is required from them. The delisting was approved by the Board of Directors and does not require shareholder approval as shares are listed on an acceptable alternative market.

XORTX Therapeutics Inc. announced its decision to voluntarily delist its common shares from the TSX Venture Exchange (TSXV). This strategic move aims to reduce costs, administrative burdens, and regulatory complexities associated with maintaining a dual listing. The company believes this will optimize financing initiatives and allow greater focus on its XRx-026 program for long-term shareholder value. Shareholders will continue to have full trading access on Nasdaq, and no action is required on their part.

XORTX Therapeutics Inc. has closed its previously announced public offering, raising gross proceeds of US$5 million. The offering involved the issuance of 183,577 common shares and 2,475,997 pre-funded warrants at a purchase price of US$1.88 per share/equivalent. The net proceeds will be used for working capital, general corporate purposes, and investor relations activities, including US$2.5 million allocated for marketing and advertising services.

XORTX Therapeutics Inc. has closed its previously announced public offering, raising US$5 million in gross proceeds. The offering involved the issuance of 183,577 common shares and 2,475,997 pre-funded warrants at a purchase price of US$1.88 per share or equivalent. The company intends to use the net proceeds for working capital and general corporate purposes, including allocating US$2.5 million for investor relations activities. The closing remains subject to final approval from the TSX Venture Exchange.

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.

XORTX Therapeutics Inc. announced the pricing of a public offering to raise US$5 million in gross proceeds. The offering consists of 2,659,574 common shares or common share equivalents in the form of pre-funded warrants, priced at US$1.88 per share or warrant. The pre-funded warrants are immediately exercisable with a nominal exercise price of US$0.0001 per share. The offering is anticipated to close around May 15, 2026, pending customary closing conditions and regulatory approvals.

XORTX Therapeutics Inc. announced the pricing of a public offering of 2,659,574 common shares or pre-funded warrants at US$1.88 per share/warrant. This offering is expected to generate gross proceeds of US$5 million before deducting placement agent's fees and other expenses. The pre-funded warrants are immediately exercisable with an exercise price of US$0.0001 per share. The offering is anticipated to close around May 15, 2026, subject to customary closing conditions and regulatory approvals.

XORTX Therapeutics Inc. announced that it estimates its stockholders' equity to be approximately $4.1 million as of May 8, 2026. This preliminary, unaudited estimate indicates that the company currently exceeds the Nasdaq Capital Market's minimum stockholders' equity requirement for listing compliance. The estimate considers the company's financial position as of March 31, 2026, the recent acquisition of Vectus Biosystems Limited's VB4-P5 asset, and estimated results for Q1 and Q2 2026.