XORTX Therapeutics Closes US$5 Million Public Offering

On May 19, 2026, XORTX Therapeutics Inc. announced the closing of a US$5 million public offering. The offering consisted of 2,659,574 units, comprised of 183,577 common shares and 2,475,997 pre-funded warrants, priced at US$1.88 per share/warrant. Each pre-funded warrant is exercisable for one common share at a nominal price of US$0.0001. The gross proceeds reached US$5 million before placement agent fees and expenses. Notably, the company disclosed that US$2.5 million of the proceeds—half of the gross amount—will be paid to IR Agency LLC for marketing, advertising, and investor relations services. The remaining net proceeds are intended for general corporate purposes and working capital. E.F. Hutton & Co. served as the exclusive placement agent, receiving a 4% cash commission. XORTX continues to focus on its clinical pipeline, including XRx-026 for gout and XRx-008 for ADPKD. The closing remains subject to final approval from the TSX Venture Exchange.