Mergers & Acquisitions ·
XORTX Therapeutics Inc. filed unaudited condensed interim consolidated financial statements for the six months ended…
XRTXXORTX Therapeutics Inc.
XORTX Therapeutics Inc. filed unaudited condensed interim consolidated financial statements for the six months ended June 30, 2026. The company reported a net loss of $2,499,206 and cash on hand of $994,045. During the period, XORTX completed the acquisition of the VB4-P5 renal anti-fibrotic therapeutic program from Vectus Biosystems Limited for an aggregate deemed value of US$3.0 million, issuing 154,544 common shares and pre-funded warrants valued at $1,871,194. On May 15, 2026, the company raised gross proceeds of $5,000,000 through a public offering of common shares and pre-funded warrants. The filing also notes that XORTX completed a 5-for-1 share consolidation on April 6, 2026, to regain compliance with Nasdaq's minimum bid price requirement. XORTX Therapeutics Inc. is a late-stage clinical pharmaceutical company focused on developing innovative therapies for gout and progressive kidney disease.