XORTX Announces Closing of US$1.1 Million Registered Direct Offering

Executive Summary

• XORTX Therapeutics closed a registered direct offering of 1,750,000 common shares (or pre‑funded warrants) at $0.63 per share, generating gross proceeds of US$1.1025 million.
• The issuance comprised 572,470 common shares and 1,117,530 pre‑funded warrants (exercise price $0.001), plus 87,500 agent warrants for the placement agent.
• Net proceeds are earmarked for working capital and general corporate purposes, providing additional liquidity to advance XORTX’s late‑stage clinical programs.

Key Details

• Offering Structure: 1,750,000 units (common shares or pre‑funded warrants) at US$0.63 per unit.
• Shares Issued: 572,470 common shares.
• Pre‑Funded Warrants Issued: 1,117,530 warrants, each convertible into one share at an exercise price of $0.001.
• Placement Agent Warrants: D. Boral Capital LLC received 87,500 agent warrants, exercisable at US$0.69 per share after a 181‑day lock‑up, with an 18‑month term.
• Gross Proceeds: US$1,102,500 before placement fees and other offering expenses.
• Use of Proceeds: Working capital and general corporate purposes to support ongoing clinical development (gout, ADPKD, acute kidney injury, etc.).
• Securities Purchase Agreement: Executed with an institutional investor; securities issued under an effective Form F‑3 shelf registration (File No. 333‑269429) declared effective February 3 2023.
• Closing Date: October 29 2025.

Notable Quotes

(No direct quotes were provided in the release.)