CALGARY, Alberta, Oct. 18, 2024 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the “Company”) (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat progressive kidney disease, today announced that it has closed its registered direct offering and concurrent private placement, announced on October 17, 2024, for the purchase and sale of 810,810 common shares (or pre-funded warrants in lieu thereof) in a registered direct offering and common warrants to purchase up to 810,810 common shares in a concurrent private placement (together with the registered direct offering, the “Offering”) at a combined purchase price of US$1.85 per common share. The common warrants issued pursuant to the concurrent private placement have an exercise price of US$2.18, are immediately exercisable and expire five years from issuance.

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XORTX Announces Closing of US$1.5 Million Registered Direct Offering and Concurrent Private Placement