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XORTX Therapeutics Inc ( (TSE:XRTX) ) has shared an announcement.
XORTX Therapeutics Inc. announced the completion of a non-brokered private placement of units, raising gross proceeds of US$925,000. Each unit consists of one common share and one warrant, with the proceeds intended for gout programs and general corporate purposes. The placement was approved by the TSX Venture Exchange, and the securities issued will not be subject to a statutory hold period. The announcement also noted that a previously announced private placement from May 2025 will not proceed. This development could enhance XORTX’s financial position and support its ongoing research and development efforts.
The most recent analyst rating on (TSE:XRTX) stock is a Buy with a C$14.00 price target. To see the full list of analyst forecasts on XORTX Therapeutics Inc stock, see the TSE:XRTX Stock Forecast page.
Spark’s Take on TSE:XRTX Stock
According to Spark, TipRanks’ AI Analyst, TSE:XRTX is a Underperform.
XORTX Therapeutics Inc faces significant challenges with no revenue and consistent losses, leading to a low financial performance score. Technical analysis indicates a neutral to bearish outlook, which, along with poor valuation metrics, weighs down the overall stock score. However, potential advancements in FDA discussions for gout treatment provide a glimmer of hope for future revenue generation, but current financial and compliance risks remain substantial.
To see Spark’s full report on TSE:XRTX stock, click here.
More about XORTX Therapeutics Inc
XORTX Therapeutics Inc. is a late-stage clinical pharmaceutical company focused on developing innovative therapies for the treatment of gout and progressive kidney disease. The company has three clinically advanced products in development, including XRx-026 for gout, XRx-008 for ADPKD, and XRx-101 for acute kidney and organ injury associated with respiratory virus infections. Additionally, XORTX is working on a pre-clinical program, XRx-225, for Type 2 diabetic nephropathy, targeting aberrant purine metabolism and xanthine oxidase to decrease uric acid production.
Average Trading Volume: 3,526
Technical Sentiment Signal: Sell
Current Market Cap: C$4.85M
For an in-depth examination of XRTX stock, go to TipRanks’ Overview page.