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Source: XORTX Therapeutics Inc.
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  • XORTX Therapeutics (XRX) announced the closing of a US$12M public offering
  • The company issued 2,906,000 units at $4.13 per unit
  • A.G.P. exercised its over-allotment option to purchase up to an additional 435,900 common shares
  • XORTX Therapeutics Inc. is a biotechnology company working to create new therapeutics for kidney disease
  • XORTX Therapeutics Inc. (XRX) opened trading at C$3.71 per share

XORTX Therapeutics (XRX) announced the closing of a US$12M public offering.

The company issued 2,906,000 units at $4.13 per unit. Each unit consists of one common share and one warrant. Each warrant is exercisable to acquire one common share. XORT granted the underwriters an over-allotment option to purchase up to an additional 435,900 common shares and/or warrants. On October 15, 2021, A.G.P. exercised its option to purchase up to an additional 435,900 common shares.

A.G.P. / Alliance Global Partners acted as sole book-running manager for the offering.

Dr. Allen Davidoff, President and CEO stated,

“We wish to thank the team at Alliance Global Partners for this successful offering and to welcome our new shareholders.  This financing, along with recent warrant exercises that have brought in over C$1 million, places XORTX in a strong cash position to continue to advance our clinical trial programs and regulatory filings in support of our proprietary formulations – XRx-008 and XRx-101.”

XORTX Therapeutics Inc. is a pharmaceutical company with two clinically advanced products in development. 

XORTX Therapeutics Inc. (XRX) opened trading at C$3.71 per share.

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